By John Lee. In its trading update on Tuesday morning, Petrofac has confirmed that it has reached "mechanical completion" of the third and final train on the Badra project. The scope of work included detailed design, engineering, procurement, construction, pre-commissioning, commissioning and start-up work on the Badra development’s central processing facility. (Source: Petrofac)
By John Lee. Work on a the $6-billion Karbala Refinery Project has reportedly been suspended. According to Korea Times, the work has been halted "due to the Iraqi government's late construction payment, raising concerns about its solvency." The Engineer, Procure and Construct (EPC) contractor for the Karbala Refinery Project is HDGSK, a South Korean joint […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 15.0 million from the Kurdistan Regional Government as partial payment to DNO and partner Genel Energy plc for May crude oil deliveries to the export market from the Tawke field. The total invoiced amount for May is USD 39.28 […]
UN emergency fund allocates $15 million to support people fleeing Fallujah The top United Nations relief official chief today released $15 million from the UN Central Emergency Response Fund (CERF) to provide urgent life-saving assistance for people affected by the recent fighting and military operations in Fallujah. “People escaping Fallujah are in desperate need of […]
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter and remotely piloted […]
Amec Foster Wheeler announced this morning that it has been awarded a three-year framework agreement by BP Iraq NV to complete conceptual studies and pre-front end engineering design (FEED) work to support BP plans to sustain and grown production at the Rumaila oil field in Iraq. Rumaila, one of the world's largest oil fields and […]
On the sidelines of the SPIEF'16 - St. Petersburg International Economic Forum, Kurdistan Region Prime Minister Nechirvan Barzani and his delegation met Mr. Alexander Novak, Russian Minister of Energy. Minister Novka welcomed the participation of Prime Minister Barzani and his delegation at St. Petersburg International Economic Forum, stressing the need to further develop the old […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th June 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQ670 (-2.5%) / $680 (-2.1%) (weekly change) (-38.5% and -40.7% YTD change, respectively). The number of week traded […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi forces say they have retaken a key government compound in the centre of the city of Fallujah from the Islamic State of Iraq and the Levant (ISIL). The minister of defence says […]
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq on Saturrday, Combined Joint Task Force Operation Inherent Resolve officials reported on Sunday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria Bomber, attack, fighter […]
By John Lee. Russia’s Lukoil plans to offset the costs on Iraqi fields in August, company President Vagit Alekperov (pictured) told TASS on Friday. He added that Iraq is ready to start negotiations to improved contract terms. (Source: TASS)
By John Lee. The first deputy speaker of the Iraqi parliament has reportedly said that Iraq plans to sue Israel for monetary compensation for bombing the Osirak nuclear reactor in Baghdad in 1981. Homam Hamoudi called on the UN to implement Security Council Resolution 487 from 1981 which gives Iraq the right to ask for […]
