Iraq earns $7bn in Oil Revenues in April
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for April of 103,988,853 barrels, giving an average for the month of 3.466 million barrels per day (bpd), up from the 3.377 million bpd exported in March. These exports from the oilfields in central and southern Iraq amounted to 100,635,009 barrels, while exports […]
Genel Pauses Bina Bawi Plans; Numis Upgrades
By John Lee. Genel Energy has announced that it "will only proceed with significant investment in Bina Bawi once an agreement is reached on a commercial framework that provides a clear route to monetisation." In a statement, the company said: "As previously announced, the deadline to meet the conditions precedent relating to the Bina Bawi […]
Sandoog wins Iraq Start-up Championship
By Padraig O'Hannelly. Iraqi tech start-up Sandoog has won the Iraq round of Arabnet's Start-up Championship. The company aims to solve local logistical issues using an e-logistics solution that allows merchants to send, track and manage their deliveries, invoices and customer base anywhere in Iraq. As part of the IBBC (Iraq Britain Business Council) Tech […]
Kuwaiti Company granted Iraqi Telecom Licence
By John Lee. Kuwait's Qualitynet is reported to have been granted a licence to provide internet, telecommunications and satellite services in Iraq. According to CommsMEA, the move makes it the first Kuwaiti telecommunications service provider to win a service licence in the country. Said Qualitynet CEO Mohammed Nizar Al-Nusif is quoted as saying: "Winning this […]
Avis Budget wins Iraq Award
By John Lee. Avis Budget Group has announced that it has won an award for its business in Iraq. At the 2019 World Travel Awards in Abu Dhabi, the company was named Iraq's Leading Car Rental Company 2019. (Source: Avis Budget Group)
Iraq call on Turkish Companies to assist Reconstruction
By John Lee. Iraqi Foreign Minister Mr. Mohamad A. Alhakim received Turkish Foreign Minister Mr. Mevlüt Çavuşoğlu at the Ministry's headquarters in Baghdad; they reviewed bilateral relations, areas of joint cooperation between Baghdad and Ankara, as well as regional issues and mutual interest. Minister Alhakim called for Turkish companies to contribute to the reconstruction of […]
TAQA Acquires Schlumberger's Iraq Business
Saudi Arabia’s Industrialization and Energy Services Company (TAQA) has announced that its drilling subsidiary, Arabian Drilling Company (ADC), has agreed to acquire Schlumberger’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million (SAR 1.56 billion). According to a TAQA press release, the transaction transforms ADC into a regionaldrilling leader […]
Oil Ministry Finalises Export Figures for March
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for March of 104,696,872 barrels, giving an average for the month of 3.377 million barrels per day (bpd), down from the 3.621 bpd exported in February. These exports from the oilfields in central and southern Iraq amounted to 100,909,946 barrels, while exports from […]
Finnish Firm wins Repeat Order in Iraq
Finnish technology group Wärtsilä has said it will supply the equipment to enable an efficient, reliable, and independent power source for an Iraqi cement producing plant. The 20 MW engine power plant is being built by Al Shumookh Lucky Investments Ltd, a JV company of Lucky Cement Limited and a limited liability company registered in […]
Petrofac Contract to deliver Training Solutions Renewed
By John Lee. Petrofac has announced that it has secured new awards and contract extensions, with a combined value of over US$30 million, to provide training solutions for key National Oil Company and International Oil Company clients in Oman, the UAE and Iraq. In Iraq, where Petrofac has delivered more than 50,000 in-country delegate training […]
Conservatives in Najaf want to legislate Religiosity
By Omar al-Jaffal for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Conservatives in Iraq's Najaf want to legislate religiosity Hundreds of residents in Iraq's Najaf province rallied and called for a new law that would "strengthen the sanctity" of the […]
GardaWorld Weekly Security Report
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]