By John Lee. The Iraqi Ministry of Oil has reportedly announced that it will select a number of international investment companies to build five new refineries around the country: Kirkuk with a capacity of 70,000 barrels per day (bpd); Wasit capacity of 140,000 bpd; Nasiriyah capacity of 140,000 bpd; Basra card 140,000 bpd; and al-Faw […]
Tag Archives | Al Fao
Tags: Al Fao, Al Faw, Basra News, Basra Refinery, Faw oil refinery, featured, Kirkuk, Kirkuk refinery, mn, Nasiriya oil refinery, Nasiriyah, Refineries, Wasit, Wasit oil refinery, Wassit
Petrofac Exec admits Bribes Paid to Win Iraq Contracts
In connection with the UK Serious Fraud Office (SFO)’s ongoing investigation into Petrofac Limited and its subsidiaries (“Petrofac”), on 6 February 2019 David Lufkin, 51, a British national, and previously Global Head of Sales for Petrofac International Limited, pleaded guilty at Westminster Magistrates’ Court to eleven counts of bribery, contrary to sections 1(1) and 1(2) […]
Tags: Al Fao, Al Faw, Badra, Corruption, featured, fraud, Grand Fao, Grand Faw, Petrofac, Serious Fraud Office, SFO, United Kingdom
China's CNOOC to Survey 2 Exploration Blocks
By John Lee. Iraq's Ministry of Oil has signed a contract with the China National Offshore Oil Corporation (CNOOC) to carry out seismic surveys of two oil exploration blocks. One of the fields is in the territorial waters of Iraq in the Gulf, while the second in the city of Faw (Fao). (Source: Ministry of […]
Video: Faw Peninsula faces Environmental Catastrophe
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Environmentalists say Iraq's once fertile Faw Peninsula is facing catastrophe. The region has seen a major collapse in its fishing and farming industries due to drought and decades of wars. Al Jazeera's Imran […]
$6bn Iraqi Port Development available for Investment
By John Lee. Iraq's National Investment Commission (NIC) has included the "Grand Port of Al Faw" 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: Project cost: $6 billion Location: Basra Design capacity: Phase one 2018: […]
Tags: Al Basra, Al Fao, Al Faw, Al Faw Grand Port, Basra News, featured, Grand Fao, Grand Faw, National Investment Commission (NIC), Ports
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. […]
Tags: Al Fao, Al Faw, Anbar refinery, China, Dhi Qar, featured, Petrochemicals, Power China, Qayara, Refineries, Thi-Qar, WW
Petrofac wins $160m Iraq Contract
Petrofac’s Engineering & Production Services (EPS) division has secured an award worth US$160 million from Basra Oil Company (BOC), previously known as South Oil Company (SOC), for its Iraq Crude Oil Export Expansion Project (ICOEEP). The new two-year extension reflects Petrofac’s continued delivery focus and five-year track record as the incumbent operations and maintenance service […]
Tags: Al Fao, Basra Oil Company (BOC), featured, Iraq Crude Oil Export Expansion Project (ICOEEP), Iraq Oil Exports News, Petrofac, Ports, Single Point Moorings, South Oil Company (SOC), SPM
More Details on New Basra Refinery Project
By John Lee. The Ministry of Oil has given more information on the new investment opportunity to build a new 300,000-bpd refinery in Basra's Faw (Fao). The refinery is capable of being extended by adding new units for the petrochemicals industries. The execution is according to the methods of BOT or BOO according to the […]
Ministry of Oil announces New Refinery Investment
By John Lee. Iraq's Ministry of Oil has announced the offering of a new investment refinery in Basra province. The facility at Fao [Faw] city will have a capacity of 300 thousand barrels/ day, and will be capable of being extended to produce the petrochemicals. (Source: Ministry of Oil)
Renewed Tensions over Kuwait-Iraq Border
By Editor on 8th February 2017 in Iraq Industry & Trade News, Iraq Oil & Gas News, Iraq Transportation News, Security
By Sara al-Qaher for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Controversial canal again sparks dispute in Iraq Iraq is fighting a tide of dissent as its lawmakers accuse the government of handing over the Khor Abdullah border canal to Kuwait […]
Tags: Al Fao, Al Faw, Bubiyan, Bubyan, featured, Khor Abdullah, Kuwait, Ports, shipping, Umm Qasr, Umm Qasr Port, Warbah Island
Iraq's Oil Exports Hit Record High
By John Lee. Surprising skeptics, the International Energy Agency has announced that Iraq's oil exports have hit 3.6 million bpd, a record 30 year high, The Wall Street Journal reports. Previously exports were falling due to export bottlenecks, bad weather and extensive work on infrastructure, while some northern areas such as Kirkuk were adversely affected by insecurity. […]
Tags: Al Fao, Basra News, International Energy Agency, Iraq, Iraq Oil Exports News, Iraq Oil Production News, Kirkuk, SOMO
Faw Port Companies Exempted from Taxes
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq has decided to exempt foreign companies involved in the Faw Port project from customs duties and taxes. This decision was an attempt to accelerate the completion of the stalled project, through […]