No Room for More Crude Oil in Markets
Crude oil markets have no room for additional supplies this year, the Organization of the Petroleum Exporting Countries (OPEC) said on 9 June, as it reported that its members had increased output last month.
Iraq Resumes Turkish Exports
"We resumed pumping to Ceyhan port on Friday with a test flow rate between 300,000 to 350,000 bpd and flow will be back to normal rates within 24 hours," the official told Reuters.
Ergil Receives Second Storage Tank Order from Iraq in 2010
Ergil, headquartered in Turkey announced a second storage tank order for engineering, design, fabrication and supplying oil storage tanks and storage tank equipment for a power plant project in Iraq.
Water Resources Ministry Reclaims 3,500 Hectares in Karbala
The water resources ministry has finalized the reclamation of 14,000 donums [3,500 hectares] in al-Husseiniya area in Karbala province, at a total cost of 11.363 billion Iraqi dinars [$10m], according to a ministry press release. “Technicians and engineers of the ministry’s general organization for irrigation and reclamation projects finalized works of contract 23 of the […]
Former Army General Wounded in Mosul
A general of the former Iraqi army was wounded when he came under fire in western Mosul city. “The incident occurred late yesterday night in the Tammuz-17 neighborhood in western Mosul,” a local police source told Aswat al-Iraq news agency on Sunday. The source explained that the officer’s house is in this area, and that […]
Four New Refinery Projects Worth $3bn
Iraq's government said it plans to embark on a roadshow June 27 to attract investments for projects including four domestic refineries worth more than $3 billion, pan-Arab Al Hayat daily reports Thursday.
Iraq sees fall in deficit, Investment Increase
Iraq will decrease its deficit to 8 percent over the next three years from 18 percent, the finance minister said on Wednesday, and envisioned a substantial increase in investment as a percentage of the budget.
Scania to Increase Truck Dealerships in Iraq As Demand Grows
Iraq’s government has ordered 500 Scania trucks, which are being assembled locally by the Iraqi state automotive company. Scania has also delivered about 30 trucks to private buyers since reentering the country at the end of last year.
Bank Profitability in Iraq to Increase
HSBC has said that it is “remarkably bullish on Iraq” and expects bank profitability in the country to increase by 100 times within 10 to 20 years, Bloomberg has reported. “There is more lending activity as the economy gets stronger,” James Hogan, country manager of HSBC Holdings said. HSBC entered the Iraq’s post-war banking sector […]
Mosul Dam Repairs to be Completed by Germans
Atheel Al-Nejaifi, legal eng., Nineveh governor has met German company representatives from "Power", which is under contract to repair the Mosul dam. The company will construct a concrete core in the dam deep beneath the dam’s foundations. Work will start soon once discussions with the water resources ministry are completed. ( Eye media company )
Sterling Energy Update on Sangaw Well in Kurdistan
Sterling, the AIM listed independent oil & gas exploration and production company with interests in Africa and the Middle East has provided the following update on its activities: The Sangaw North #1 exploration well is currently drilling ahead at 1,505 metres. Since the last update on 7 May 2010 two intermediate casing strings have been […]
Welcome to the 'Your Country' Pages
Welcome to this latest initiative from Iraq Business News. The ‘Your Country’ pages carry useful information specific to businesses from participating countries. The first to be launched is the United Kingdom, and we plan to add other countries over the coming weeks and months. If you would like to see your country represented please contact […]