By John Lee. KAR Electrical Power Plant Production Trading FZE (KEPPT) has engaged JP Morgan to arrange development financing for a $1.6 billion urea plant in Basra. According to a statement from KEPPT, the company will work with the bank to progress financing for the project in conjunction with several leading export credit agencies. The […]
By John Lee. In its latest session, the Iraqi Cabinet has approved several measures to address the electricity needs during peak summer periods and to develop the country's power infrastructure. The key decisions include: Contract with Mass Holding Company: The Ministry of Electricity has been authorized to contract with Mass Holding Company to supply electricity […]
By John Lee. SACE the state-owned Italian insurance and financial group, which specialise in supporting Italian companies and the national economy, has entered an agreement with the Trade Bank of Iraq (TBI) to support the development of the private sector in Iraq by promoting Made in Italy exports to the country, with a total value […]
By John Lee. Iraq's Council of Ministers has approved the renewal of two contracts between the Ministry of Electricity's General Company for the Transmission of Electricity for the Northern Region and energy suppiers: Qaiwan's contract to supply 400-800 megawatts of energy to be extended for one year; Kar Group's contract for the supply of 150-385 […]
By John Lee. A rocket attack that targeted an oil refinery in the Khabat area of Erbil on Sunday has been widely condemned. Six rockets were fired at the Kawergosk refinery, which is owned by KAR Group, reportedly damaging a storage tank. The Iraqi Security Media Cell said it located a launch base near the […]
By John Lee. The Indian Oil Corporation (IOC) has reportedly loaded its first cargo of Iraq's new "Basra Medium" crude grade. According to the Financial Post, the ship is expected to arrive at Chennai port for IOC's subsidiary Chennai Petroleum Corp (CPCL) around 14th January. More here. (Source: Financial Post)
By John Lee. The Arab Swiss Engineering Company (ASEC) has reportedly signed a three-year agreement with Iraq's KAR Group for the operation and maintenance of the Qarachough [Qarachog] Cement Plant near Erbil. According to World Cement, the plant has a capacity of 1.9 million tonnes per year. (Source: World Cement)
Germany's Siemens will upgrade one of the country’s largest gas-fired power plants. Under a new contract, Siemens will add 650 megawatts (MW) to Shatt Al Basra Gas Power Plant, which currently has a power generation capacity of 1,250 MW and consists of non-Siemens turbines operating in simple-cycle mode. Siemens will supply five of its highly-efficient […]
Germany's Siemens has won a contract to add 700 megawatts (MW) to the Rumaila Gas Power Plant, which currently has a power generation capacity of 1500 MW. Siemens will supply its highly-efficient SST-5000 steam turbines, ensuring the additional power supply comes at no extra fuel requirement while increasing the overall power plant efficiency to more […]
By John Lee. The Iraqi parliament has reportedly banned Erbil-based Kar Group from operating oil fields in Kirkuk. According to Rudaw, it assigned the state-owned North Oil Company (NOC) to take over oil production in the province and export it through Iraq's State Oil Marketing Organisation (SOMO). Reuters reports that Kar Group had been operating some […]
Russia's Rosneft and Kurdistan Regional Government (KRG) have announced the start of joint implementation of an infrastructure project for the operation of the oil pipeline in the Kurdish Autonomous Region. According to a statement from Rosneft, its share in the project "may amount to 60%". "The other project participant with 40% share will be KAR […]
Germany's Siemens has expanded an existing service agreement with KAR Group in Iraq to provide comprehensive operations and maintenance (O&M) for two newly added SSC5-2000E power plant units at the Khormala plant in the Kurdistan region. The 930-megawatt (MW) natural gas-fired power plant meets nearly 30 percent of the power demand targeted by the Kurdistan […]
