The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
By John Lee. The World Bank will reportedly lend a total of $200 million to Iraq for upgrades to its electricity grid. According to Basnews, the agreement was signed by Finance Minister Fuad Hussein and Yara Salim, a representative to the World Bank. "There will be attempts to address the problem of power supply in […]
The Euro-Mediterranean Human Rights Monitor denounced the kidnapping of a civil activist and prominent academic in Basra province in Iraq, as well as the arrest campaigns carried out by the Iraqi security services against activists leading peaceful protests against corruption in the country. According to local sources, Kazem Al-Sahlani was kidnapped because of his prominent […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Basra protests build in Iraq as sub-standard services persist In an exclusive interview with Al-Monitor, Iraqi Minister of Electricity Luay al-Khatteeb talked about the situation of Iraq’s electricity sector amid tense […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Cancer hits residents of Iraqi oil city of Basra The deputy governor of Basra province, Zahra al-Bijari, claimed June 6 that cancer rates have been growing dramatically in the province as a […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's vast oil wealth once paid for some of the best health services in the Middle East. But decades of conflict and political unrest have led to, what the government admits, a crisis […]
By John Lee. A rocket has hit a residential and oil operations headquarters near Basra city, wounding three workers at an Iraqi drilling company. The short-range Katyusha missile hit a compound in Burjesia which is used by several international oil companies (IOCs), including ExxonMobil. Oil production and exports are not expected to be affected. (Sources: […]
JICA to Support Iraq’s Reconstruction and Revitalization through Upgrade of Basrah Refinery Signing of Japanese ODA Loan Agreement for Iraq On 16 June, 2019, the Japan International Cooperation Agency (JICA) and the Iraqi Government signed a loan agreement at Ministry of Finance in Baghdad. The ODA (Official Development Assistance) loan amounting to JPY 110,000 million […]
By John Lee. Ride-hailing service Careem has reportedly started operations in Basra. According to The National, the company, which currently operates in Baghdad and Najaf, also has a pilot project in Erbil. Careem entered the Iraqi market in January 2018, and was bought by Uber for $3.1 billion in March 2019. (Source: The National)
US-based Capstone Turbine Corporation (Nasdaq: CPST) has announced today that it has secured an order for two C600 Signature Series microturbines to provide 1.2 megawatts (MW) of energy to power a triethylene glycol (TEG) dehydration facility in the Basra region of Southern Iraq. The order also includes Capstone’s new self-cleaning pulse filtration system which will […]
By John Lee. Oil production in the Al Faihaa area (Block 9) in Basra is reportedly expected to increase in the coming year with increasing investment. Dragon Oil CEO Ali Al Jarwan told Oil & Gas Middle East that the company plans to increase production in Iraq to 100,000 barrels per day (bpd) by 2025. […]
By Hamdi Malik for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. ExxonMobil evacuated dozens of its non-Iraqi employees from Iraq on May 18. The evacuation follows a US State Department decision to withdraw its non-essential staff from the US Embassy in Baghdad and its consulate […]
By John Lee. Hyundai Engineering & Construction has reportedly won a $2.45-billion deal to build a seawater processing facility in Iraq. South Korean media report that the company signed a letter of intent with Basra Oil Company (BOC) on Wednesday for the 49-month project, which will be capable of supplying 5 million barrels of fresh […]
