By John Lee. GB Auto has reportedly decided to cease its representation of Hyundai passenger cars in Iraq. According to Daily News Egypt, the company rejected Hyundai’s new multi-distributor strategy, on the basis that such models never yield proper returns on investment. It adds that Hyundai had a market share of approximately 25 percent last […]
Tag Archives | Hyundai
Hyundai wins $2.4bn Desalination Contract
By John Lee. Hyundai Engineering & Construction has reportedly won a $2.45-billion deal to build a seawater processing facility in Iraq. South Korean media report that the company signed a letter of intent with Basra Oil Company (BOC) on Wednesday for the 49-month project, which will be capable of supplying 5 million barrels of fresh […]
Tags: Al Basra, Basra News, Basra Oil Company (BOC), desalination, featured, Hyundai, Iraq Oil Production News, korea, mn, South Korea
Contract Awarded for Trucks
By John Lee. A company has won a tender to supply two truck tractors with low-bed trailer to the United Nations Office for Project Services (UNOPS) in Iraq. The contract with US-based Al-Kasid Commercial Agencies Ltd is valued at $269,300. According to the company’s website, Al-Kasid Commercial Agencies Ltd is the official distributor in Iraq for […]
Karbala Refinery Project “Halted … Solvency Concerns”
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 […]
Tags: featured, GS Engineering & Construction, HDGSK, Hyundai, Iraq Budget News, Karbala, Karbala refinery, Kerbala, Kerbala refinery, korea, Refineries, SK Engineering & Construction, South Korea
New Allegations of Massive Corruption in Iraq Oil Industy
By John Lee. An investigation by Fairfax Media — publisher of The Age and The Sydney Morning Herald newspapers — and The Huffington Post, claims that Monaco-based Unaoil has been involved in widespread bribery and corruption in the oil industry, including in Iraq, Iran and Libya. Following examination of tens of thousands of emails, the report says that Unaoil […]
Tags: ABB, bribery, Cameron, Cameron/Natco, Clyde Pumps, Core Labs, Corruption, featured, FMC Technologies, Hyundai, Leighton, Luaibi, MAN Turbo, Monaco, Petrofac, Rolls-Royce, Rosetti Marino, Saipem, SBM Offshore, Shahristani, Shaw Group, South Oil Company (SOC), Unaoil, Weatherford, Weir Group
Veolia Wins Contract at Karbala Refinery
Veolia Water Technologies has been selected by HDGSK Joint Venture to supply a Zero Liquid Discharge Evaporator and Crystallizer for the Karbala Refinery Project in Iraq. Veolia will engineer, procure and deliver a Zero Liquid Discharge system based on its proven HPD® Brine Evaporator and Brine Crystallizer technologies for calcium sulfate seeded slurry processes. Iraq’s […]
Tags: featured, France, HDGSK, Hyundai, Karbala, Karbala refinery, Kerbala, korea, Refineries, State Company for Oil Projects (SCOP), Veolia, Water
US Officials ask how IS got so Many Toyota SUVs
U.S. counter-terror officials have asked Toyota to help them determine how the Islamic State group (ISIS, ISIL, IS) has managed to acquire the large number of Toyota pick-up trucks and SUVs seen prominently in the terror group’s propaganda videos. According to a report from ABC News, Toyota says it does not know how ISIS obtained […]
Copperchase Wins Hyundai Contract
By John Lee. UK-based Copperchase has won a $6 million (7.2 billion Iraqi dinar) contract with Hyundai Engineering & Construction to build a new security fence at Karbala oil refinery. The company used a £200,000 loan from the Tees Valley Catalyst Fund loan, which is managed by FW Capital, to secure the performance bond it […]
Tags: 'Your Country' - United Kingdom, Copperchase, FW Capital, Hyundai, Lloyds Banking Group, Refineries
Hyundai Elevator wins $63m Contract
By John Lee. South Korea’s Hyundai Elevator Co. has secured a $63-million contract to supply 1,668 elevators for all apartment buildings of the Bismaya New City Project until 2019. An additional $26 million deal is reported to be likely to be signed within the week to set up elevators in buildings, bringing the total to […]
Koreans win $1.7bn Power Contracts
By John Lee. Reuters reports that Iraq has approved $1.7 billion in contracts with Korean companies Samsung Engineering and Hyundai Heavy Industries to build two engineering projects: Samsung won a $894.5 million contract to handle engineering, procurement and construction work on a degassing station in the Zubair oilfield; Hyundai won a $818 million contract to […]
Maliki Heralds Construction of Karbala Refinery
By John Lee. Prime Minister Nouri al-Maliki has spoken at a ceremony to mark the start of construction on Karbala’s forthcoming 140,000 bpd refinery, Iraq Directory reports. As part of Iraq’s energy strategy to increase refining capacity to 750,000 bpd, the new $6 billion refinery will be constructed by a consortium led by Hyundai Engineering and […]
Hyundai Wins $6bn Kerbala Refinery Deal
By John Lee. A group of companies led by Hyundai Engineering & Construction has won a $6.04-billion contract to build the new 140,000-bpd Kerbala oil refinery. The Iraqi cabinet approved the deal between the Oil Ministry’s State Company for Oil Projects (SCOP) and the consortium on Tuesday. Construction is to be completed within 54 months. […]