The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
An Iraqi navy has tracked down the thieves who hijacked a number of ships near Iraq’s oil ports in Basra, a news report from Aswat al-Iraq quotes an Iraqi Web site. “We cannot describe these thieves as pirates, they are just thieves,” said an Iraqi source. He described such incidents as one-off events committed by […]
An official from Basra Provincial Council (BPC) said on Tuesday that the council allocated 400 billion Iraqi Dinars (IDs) -- around $350 million-- from oil and customs’ revenues to provide public services in the province, the head of the monitoring and planning committee of the BPC told AKnews. Walid Gitan said the Iraqi Finance Ministry […]
Oil exports from Iraq's Basra terminal fell to 720,000 barrels on Monday, down from 1.728 million barrels the previous day, due to maintenance on the offshore pipeline, according to a report from Reuters. "Exports from Basra dropped today as technical teams are conducting maintenance work on some parts of the export pipeline," a source said. […]
A number of UAE companies wanting to launch investment projects in Basra province has increased in recent weeks, said a spokesman for Basra's governor on Sunday. "Basra province received more than four UAE companies within a month," Salem Al-Taqi, told AKnews. [We assume that "more than four" means "five" - Ed.] "Basra's governor, Sheltag Aboud, […]
The managing director of the Italian national oil company, ENI, confirmed on Monday that the company aims to increase oil production by 15 percent in southern Iraq’s Zubair oil fields by the end of this year. AKnews reports that the remarks by Gino Jianoa came during a visit to Basra to discuss the Zubair contract […]
Gunmen robbed the crews of four ships anchored off Iraq's southern oil hub of Basra last week, in Iraqi regional waters patrolled by the U.S. Navy, a Navy official said on Sunday. The attackers targeted the Antigua-flagged Arminia, North Korea's Crystal Wave, Syria's Sana Star and the American ship Sagamore last Sunday and took personal […]
Occidental Petroleum is planning to build a water desalination plant in Umm Qasr, Basra, an oil expert said on Monday. “The oil company seeks to implement the project as the South Oil Company refused to provide it with the water it requires to inject into wells to develop oilfields,” Dr. Jabar al-Halfi told Aswat al-Iraq […]
A delegation from the U.S. Chamber of Commerce (USCC) arrived in Basra on Sunday to discuss investment projects and U.S. companies’ involvement with the province, according Max Haivanis, Senior Manager Middle Eastern Affairs. “A visit by USCC representatives to Basra is meant to set the stage for U.S. firms’ entry into business projects in the […]
Iraq's Transport Minister, Shirwan al-Waeli [al-Waili], met with the deputy president of DP World (formerly Dubai Ports Authority) on Monday in Basra, to discuss signing a deal between Iraqi and Dubai ports, according to Aswat al-Iraq news agency. “Talks between the two sides tackled steps to implement the deal between the two sides,” said Anmar […]
A source in the Iraqi Ports Company said on Monday that Acting Transport Minister and Minister of Oil, Hussein al-Shahristani, visited several ports in Basra in a surprising visit on Sunday evening, while the security forces seized a number of smuggled cars in one of the ports in the province. "Oil Minister, Hussein al-Shahristani, arrived […]
A delegation representing Indian companies is visiting Basra to learn about investment opportunities in the province, according to a report from Aswat al-Iraq. "The delegation, which consists of a number of Indian companies, held talks with the second deputy governor, Ahmad al-Hasni, on Thursday, regarding investment opportunities in different fields in Basra,” the source told […]
On Tuesday, Basra Council discussed projects which will be implemented in 2011, according to a head of the reconstruction committee. The projects are in several budgetary categories and have a total value of 286 billion Iraqi dinars ($240m). “The council made a comprehensive assessments of all projects for 2011 in the areas of health, electricity, […]
