BHGE: Growth in Iraq Offsets Decline in other Markets
By John Lee. In its 2017 Results, Baker Hughes, a GE company (BHGE) has said that rig count growth in Iraq and the UAE offset declines in other Middle Eastern markets. During the year, the company secured what it describes as the largest-ever turbomachinery and process solutions agreement with PetroChina for the provision of its […]
Sulzer appoints Authorized Repair Partner in Iraq
Sulzer, the Swiss-based specialist in pumping solutions, has appointed Al Majal Technical Services (AMTS) as their authorized repair partner in Iraq. AMTS was founded in 2015 to provide a full spectrum of Oil and Gas services including rotating equipment. The AMTS workshop, located in North Rumaila, is a 3000 m2 state-of-the-art facility, equipped with a […]
Drought Threatens 1m Acres in Kurdistan
By John Lee. Nearly 1 million acres (400,000 hectares) of land in the Kurdistan Region have reportedly been rendered barren due to drought. Faruq Ali, Director of Crop Production at the Ministry of Agriculture and Water resources, told Rudaw: “Due to the lack of rainfall during this year’s plantation season, I predict that nearly 60 […]
Iraqi Journalists face Attacks by Politicians' Bodyguards
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. During Prime Minister Haider al-Abadi’s visit to the southern city of Najaf on Jan. 7, his bodyguards attacked a group of journalists, causing them physical harm. Abadi's office launched […]
New Petroleum Round faces Many Serious Problems
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The New Petroleum Bid Round Faces Many Serious Problems Since the last Ministerial reshuffle of August 2016, the Ministry of Oil has been persistently trying to offer most possible oilfields and exploration […]
4 Metropolitan Transport Opportunities in Iraq
By John Lee. Iraq's National Investment Commission (NIC) has included four subway and metropolitan rail projects in its list of major strategic projects to be presented during the Kuwait International Conference for Iraq Reconstruction, to be held in Kuwait from 12th to 14th February: 1. Baghdad Metro The project consist of two lines with total […]
Iraq to Comply with Opec Supply Cuts
By John Lee. Financial Times reports that Iraq will comply with OPEC-led efforts to restrict crude oil production, even as Saudi Arabia said it is striving to boost its export capacity. It quotes Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] as saying that Iraq’s export capacity would reach 5m bpd by the end of this […]
Chinese Companies Win Al-Faw Projects
By John Lee. Iraq's Ministry of Oil has awarded the Al Faw [Al Fao] refinery and petrochemicals project to two Chinese companies. In a statement, the ministy named the companies as Power China and "Nerco Chinese Companies". Mr. Assim Jihad, the spokesman of the Ministry, said the refinery will have a capacity is 300,000 barrels/day. […]
US contributes $80m for Stabilization in Iraq
The United States Agency for International Development (USAID) has contributed an additional US$ 80.85 million to The United Nations Development Programme (UNDP). US$ 75 million will go to UNDP’s Funding Facility for Stabilization (FFS), with the remaining US$ 5.85 million committed to UNDP’s Funding Facility for Economic Reform (FFER). This brings the total United States […]
Road Projects available for Investment
By John Lee. Iraq's National Investment Commission (NIC) has included several road projects in its list of major strategic projects to be presented during the Kuwait International Conference for Iraq Reconstruction, to be held in Kuwait from 12th to 14th February: Rehabilitation and development of the existing roads Construction of highways next to the existing […]
US firm "Suspends" Tank Maintenance in Iraq
By John Lee. US-based General Dynamics, which produces Abrams tanks, has reportedly suspended its maintenance program in Iraq after one of its tanks was provided to the Iranian-backed Hashd al-Shaabi Popular Mobilization Force (PMF). Iraq's al-Ghad Press has reports that the company withdrew from its base at Baghdad’s al-Muthanna airport after finding out that Iraq […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th Jan 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD791 (+0.7%) / $822 (+1.5%) (weekly change) (-2.5% and -1.7% YTD change, respectively). The number of week traded […]