Tag Archives | Canada

ShaMaran Increases Stake in Sarsang Contract

By John Lee. ShaMaran Petroleum has announced that it has signed an agreement with a subsidiary of French major TotalEnergies S.E. to acquire its affiliate (TEPKRI Sarsang A/S) holding an 18% non-operated participating interest in the Sarsang Production Sharing Contract in the Kurdistan Region of Iraq for an initial consideration of USD 155 million plus […]

Police Officers successfully Complete e-Learning Courses

First Iraqi police officers successfully complete UNDP's e-learning courses "This is the most valuable and scientific learning and training course I have ever had in my career as a police officer, in policing in general, and homicide investigating and e-learning in particular, thanks to a dedicated team of UNDP professionals and efficient trainers, for explaining […]

Canada Commits Funds to tackle Pandemic in Iraq

Protecting communities from COVID-19: Canada commits funds to tackle growing pandemic in Iraq The Government of Canada has contributed US$1.85 million (CAD 2.5 million) to support the Government of Iraq's response to the COVID-19 pandemic, in partnership with the United Nations Development Programme (UNDP) in Iraq. The funds will be directed toward two critical areas […]

Oryx Petroleum Announces Change in Control

Oryx Petroleum Corporation has announced that the Corporation's two largest shareholders have informed the Corporation that Zeg Oil and Gas Ltd. acquired control of the Corporation from AOG Upstream BV on July 23, 2020 in the context of the previously announced transaction. The acquisition was conditional upon and subsequent to the closing of the Loan […]

Shamaran Bondholders appoint Advisers

By John Lee. According to Bloomberg Law, a group of bondholders of Shamaran Petroleum has reportedly appointed restructuring specialists Akin Gump Strauss Hauer & Feld LLP to advise on ongoing debt talks. ShaMaran Petroleum said last week that that it continues to examine alternatives to address a breach of financial covenant and liquidity shortfall, and […]

Euro Ambassadors Condemn State Violence in Iraq

The Ambassadors of Canada, Croatia, Czech Republic, Finland, France, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Romania, Spain, Sweden, the United Kingdom and the United States condemn the excessive and lethal use of force by Iraqi security forces and armed groups since 24 January against peaceful protestors, including in Baghdad, Nasiriya and Basra. Despite assurances […]

Scheme to Smuggle Luxury Cars into Iraq

By John Lee. Three men and a woman have reportedly been charged in Canada in connection with a scheme to smuggle stolen high-end cars and pickup trucks into Iraq. According to CP24, the gang stole 39 cars, including a BMW X6, usually from car rental agencies. The accused are named as Yehia al-Jbouri, Amer al-Ogaili, […]

GardaWorld Recapitalized in $4bn Deal

Alongside Founder, Chairman and CEO Stephan Crétier (pictured), funds advised by BC Partners, a leading international private investment firm, and others have reached a definitive agreement to acquire Rhône Group's equity interest in Garda World Security Corporation ("GardaWorld"), the largest privately-owned security and cash services company in the world, in a C$5.2 billion recapitalization. Following […]

Canadian Firm Wins Nassiriya Refinery Contract

Iraq's Oil Ministry has approved a preliminary agreement with Vancouver-based Pacific Future Energy to build a refinery in Nassiriya. Pacific is likely to work on the project in tandem with SNC-Lavalin, a Montreal-based engineering and construction firm that has a partnership with Pacific dating back to 2015, and longstanding ties in Iraq. More details here […]

Towards Women’s Economic Empowerment in Iraq

The World Bank Group, the Government of Iraq, and the Government of Canada launched today a US$1.95 million grant to support Iraq’s efforts to strengthen systems and deliver programs to empower women economically and politically. The “Gender and Social Protection in Iraq: Towards Economic Empowerment” program consists of two complementary components: the first component will […]

Torino Power explores Opportunities in Iraq

By John Lee. Canada's Torino Power Solutions Inc. has announced that it has been working with a U.K. based engineering firm that has existing business and projects in the Iraqi market. Torino was approached regarding its Power Line Monitoring (PLM) temperature sensors and in the last few months, the UK engineering firm has introduced the […]