The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
A Belgian dredger has arrived at Umm Qasr on Wednesday to work on increasing the depth of the shipping channel. The vessel is the 18,620 tonne trailing suction hopper dredger, the 'Francis Beaufort'. It is 142m in length, and has a maximum dredging depth of 71.5m. The report from AKnews says the project was facilitated […]
Iraq's South Oil Company, working with the IOCs, has set quarterly production targets for the country's southern oilfields for 2011, according to documents obtained by Reuters. Production is targeted reach an average of nearly 2.3m bpd by Q4 2011. Oilfields Q1 Q2 Q3 Q4 Rumaila 1,175,000 1,201,000 1,226,000 1,250,000 West Qurna 1 260,000 270,000 285,000 […]
More than 150 local and foreign firms will participate in the Basra Construction International Fair that will take place by the end of this month, according to a report from Aswat al-Iraq. “Most of the participating firms are either foreign or Arab,” said a local source. The fair will start on Sept. 24th and end […]
Germany's Siemens is eyeing up electricity investments in Basra. “A delegation from Siemens met today (Sept. 2) with officials of the provincial council’s electricity committee to discuss ways to carry out projects in the power sector in Basra,” Ziyad Ali told Aswat al-Iraq news agency. “The delegation expressed readiness to carry out power projects in […]
The project manager of Sheraton Hotel in Basra confirmed on Thursday that the Integrity Board suspended the Sumar company after it reached its final stages, because the company did not hand over the project on time. Wameeth Abass, an engineer on the project, told AKnews, "The Integrity Board suspended our work with the Sumar Company […]
The Dutch ambassador to Iraq, Peter van Leeuwen, visited Basra province to discuss investment opportunities with local officials. “During the visit, the ambassador had a close look at investment project and opportunities that could attract Dutch firms to Iraq,” the Basra Investment Commission said in a statement on Tuesday, as received by Aswat al-Iraq news […]
Iraqi Airways is planning to initiate its new service between Basra and Mash’had [Mashhad] in eastern Iran, according to a Transportation Ministry statement on Tuesday, quoted by Aswat al Iraq. "The Transport Minister, Amer Abdul-Jabbar, has instructed Iraqi Airways to initiate a route between southern Iraq’s Basra and Iran’s Mash’had from September 9, 2010, with […]
A delegation of Russian companies met with the chairman of Basra Council on Thursday to discuss investment opportunities in the city, a media official of the Basra council said. "A delegation of Russian companies’ representatives held a meeting with Jabbar Amin, with whom they discussed investment opportunities in the city," Hashem Ubeidi told Aswat al-Iraq […]
A senior official at Shell said that Iraq is losing $50 dollars per second, more than $4 million a day, as a result of flaring the gas associated with oil production in the province of Basra. The company's Vice-President for the Middle East and North Africa, Mounir Bouaziz, reportedly said his company was currently awaiting […]
Basra International Oil & Gas Conference and Exhibition 25–28 November 2010 International Exhibition Center, Basra – IRAQ Our participants has passed 100! Why Exhibit Have a key role in rebuilding of Iraqi Oil & Gas Sector. Build a network of new and productive business contacts and establish local partnerships which is important to do business in […]
The Basra Sheraton hotel, which has been undergoing renovation for the past six months, will be opened in the middle of September. “The refurbishment project has been executed by a local firm at a total cost of $55 million [66 billion Iraqi dinars],” a local media source told Aswat al-Iraq news agency. He noted that […]
Reuters reports that oil exports from Iraq’s Basra terminal recovered to 1.56 million barrels on Tuesday, after dropping to 720,000 barrels on Monday due to pipeline repairs. “The flow rate from Basra port is recovering after they finished repairs on some parts of the export pipeline yesterday evening,” a shipping source claimed. The shipper said […]
