By John Lee. Iraqi Railways signed a contract to import 10 passengers trains from a Chinese company. Aswat al-Iraq reports that the contract is valued at $115 million. (Source: Aswat al-Iraq)
Iraq to Buys 10 Chinese Trains
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Chinese Company to Supply Iraqi Railways
By John Lee. The Ministry of Transportation's General Company for Railways has reached an agreement with a Chinese supplier to provide equipment for the Iraqi rail system, according to a report from AIN. Iraq Business News believes the Chinese company is China South Locomotive & Rolling Stock Corporation (CSR). (Source: AIN)
Automobile Factory to be Built in Sulaymaniya
By John Lee. Sulaymaniya's general directorate of investment has said that a local company called 'Mario' is building an automobile factory on a 22 hectare (90 donum) site. The company will initially import parts from China and assemble them at the new plant; at a later stage the factory will also make the parts itself, […]
Iraq Pipeline Delays Threaten Shell's Majnoon Output
By John Lee. Delays in the construction of an Iraqi pipeline threaten to stall production at Shell's Majnoon oilfield for at least three months, forcing the field to miss a 2012 target of 175,000 barrels per day, reports Reuters. In February, production at Majnoon was 54,000 bpd, Shell says, but averaged only 18,600 bpd for the […]
China to Open Consulate in Erbil
By John Lee. The Chinese Ambassador to Iraq, Mr Ni Jian, met with Prime Minister Nechirvan Barzani yesterday to explore ways of strengthening ties with the Kurdistan Region. Ambassador Jian presented his credentials to the Iraqi President last year November, and this is his first visit to Kurdistan. In his meeting with Prime Minister Barzani, […]
CNPC to Replace Statoil at West Qurna-2?
By John Lee. The China National Petroleum Corporation (CNPC) is reported to be in talks with Russia's OAO Lukoil about joining the company’s West Qurna-2 project in Iraq. Lukoil is seeking a partner for a 30 percent stake in the project following the exit of Norway's Statoil’s, Nefte Compass said, citing Andrei Kuzyaev (pictured), head […]
Oil Production at Starts at Halfaya
By John Lee. PetroChina and its partners Total and Petronas said on Wednesday that oil production has started at the Halfaya oil field in southern Iraq. Iraqi Oil Minister Abdul-Karim Elaibi [Luaibi] said the field will produce 100,000 barrels a day and reach 535,000 bpd in 2016. The consortium will be paid $1.40 for each […]
Foreign Firms to Build Multi-Billion-Dollar Housing Projects in Basra
Basra will soon become the scene of multi-billion dollar construction projects to be implemented by major foreign firms, according to a statement issued by Basra Investment Commission. According to a report from Azzaman, most of these projects will be in the city of Basra, giving it more than 70,000 new, modern apartments for low-income groups, […]
China Increases Presence in Iraq
China's Commercial Attache in Iraq, Wang Shi Tong [Wang Xi Tong], has said that Beijing will open a consulate office in its Baghdad embassy to facilitate Iraqis applying for visas to enter China. The office will be opened at the end of 2012. According to the report from AIN, he added that the Chinese consultancy […]
Zhenhua Backs Out of Iraq Venture; PPL to Proceed Alone
The Chinese firm Zhenhua has decided not to partner with Pakistan Petroleum Limited (PPL) in a bid for an exploration block in Iraq due to security issues, the Express Tribune reports. "The News", however, reports that Zhenhua walked out on the deal because a re-drawing of the boundary of the Bloc-9 meant "the opportunity became […]
Iraq to Buy New Trains
Iraq has reportedly asked several international companies to submit bids for the supply of 10 passenger trains. Bloomberg reports that France's Alstom, and China's Datong Electric Locomotive Company have been invited to submit bids, as have manufacturers in Turkey, Iran and Croatia. Jawad al-Kharsan, a spokesman for the national railway company, said the winning company […]
Iraq to Order Eight Cargo Vessels
Iraq will offer contracts for the construction of eight cargo ships over the next four years in an effort to expand its fleet, reports Bloomberg. The government also expects to take delivery of a $14 million cargo vessel in the next two weeks. The vessel, built by the Avic Dingheng Shipbuilding Company of China, is […]