Tag Archives | Basra News

The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News

Deal Signed for 96 new Wells at West Qurna 1

By John Lee. Iraq has signed a contract with Schlumberger to drill 96 horizontal and diagonal oil wells at the West Qurna 1 field in Basra. Saad Al-Damen, Vice President of Schlumberger, said the contract will add 200,000 barrels per day to production at the field. The Undersecretary at the Ministry of Oil, Hamid Younis, […]

INOC to be Partner in TotalEnergies Basra Projects

By John Lee. The Iraqi cabinet has approved a plan for the newly-formed Iraqi National Oil Company (INOC) to be a financial partner with TotalEnergies in its projects in Basra. It said it will support INOC to "maximize revenues and financial returns to the general budget." In September, TotalEnergies signed a number of major agreements […]

Ministerial Energy Council urges Progress on Refineries

By John Lee. At the most recent meeting of Iraq's Ministerial Energy Council, headed by Oil Minister Ihsan Abdul-Jabbar Ismail, the Council decided that the South Refineries Company (SRC) should "take the necessary steps" to develop the Shuaiba refinery in Basra Governorate. It also urged the acceleration of work on the 140,000-bpd Karbala oil refinery, […]

Expanding Basic Services to Poor Neighbourhoods in Basra

The European Union supports UN-Habitat to expand basic services to poor neighbourhoods in Basra City The last 18 months have highlighted the importance of access to safe potable water, sanitation, waste management, and hygienic conditions to prevent and protect human health during disease outbreaks. Nearly 1.8 billion people world-wide live in inadequate housing, in overcrowded […]

TotalEnergies signs $10bn New Deals in Iraq

TotalEnergies, the Iraqi Ministries for oil and electricity, and the country's National Investment Commission (NIC) have signed, in the presence of the Prime Minister of Iraq, major agreements covering several projects in the Basra region, designed to enhance the development of Iraq's natural resources to improve the country's electricity supply. Iraq, a country rich in […]

Japan extends $300m Loan for Basra Refinery

By John Lee. Japan's Minister for Foreign Affairs, Motegi Toshimitsu, visited Iraq on Saturday, meeting with Foreign Minister Fuad Hussein, Prime Minister Mustafa Al-Kadhimi, and President Barham Salih. Minister Motegi announced that Japan intends to extend the "Basrah Refinery Upgrading Project (Phase 3)" Yen loan project (up to the amount of 32.7 billion yen) [$300 […]

Wood Wins 5-Year Contract in Iraq

By John Lee. Scottish-based Wood, the global consulting and engineering company, has announced that it has been awarded a five-year contract to deliver specialist engineering solutions at a major oilfield in Iraq. The company did not specify which oilfield, or the value of the contract. It has previously won business at the West Qurna 1 […]

Water Governance in Basra

By Michael Mason, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Water Governance in Basra In summer 2018 protests erupted in Basra amidst a water contamination crisis, with over 100,000 admitted to hospital by […]

Axens to support Basrah Refinery Upgrading Project

By John Lee. French-based Axens -- part of the IFP Energies Nouvelles group -- has said it is pleased to continue working with JGC Corporation on the Basrah Refinery Upgrading Project. Earlier this month, Prime Minister Mustafa Al-Kadhimi laid the foundation stone for the $4bn-project. In a statement, the company said: Part of Iraq's Ministry […]