Tag Archives | Malaysia

IBBC Welcomes Five New Members

The end of 2016 saw several new members join the Iraq Britain Business Council (IBBC), each of which are underpinned by strong reputations for innovation, reliability and a commitment to investing in Iraq. GE, Khudairi Group, Pell Frischmann, Petronas and Siemens join 51 other world- and region-leading companies that form IBBC’s Council of Members. “IBBC […]

Oil Firms to Restart Investment, Boost Output

By John Lee. Reuters reports that Baghdad has reached agreement with BP, Shell and Lukoil to restart stalled investment in Iraqi oil fields, allowing production to increase by 250,000-350,000 bpd in 2017. According to documents seen by Reuters, the three firms agreed to spend in the second half of 2016 roughly half the budgets they proposed […]

Basra Heavy Trading at Discount

By John Lee. According to a report from Reuters, the new Basra Heavy crude oil grade has been trading at a widening discount. Malaysia's Petronas reportedly sold 2 million barrels for June loading to Indian refiner Essar Oil at a discount of more than $1 a barrel to its official selling price. bigger than expected […]

Ambassador: Tremendous Opportunities in Iraq

By John Lee. The Iraqi Ambassador to Malaysia, Prof. Dr. Basim Hattab Al-Tumma, has said that there are "tremendous opportunities" for Malaysian companies in the field of oil and gas exploration, infrastructure development, commodity trading, halal food and other consumer items. He said Iraq was looking forward to seeing Malaysia, a "brotherly Muslim country", assisting […]

Petronas "Can make it Work" in Iraq

By John Lee. The upstream international vice-president of Malaysia's Petronas, Sharbini Suhaili, has reportedly said that Petronas was the largest international oil company in Iraq, and that the assets returns were promising despite numerous challenges. "There are always challenges. "We can make it work and we are working well with our partners." (Source: AsiaOne) (Picture: Halfaya […]

Gazprom Starts Oil Deliveries from Badra

By John Lee. Russia's Gazprom Neft, the operator of the Badra oil field (pictured) in Iraq, has announced that first oil from the field is now being delivered to Iraq’s main pipeline system for transfer to the export terminal in Basra, on the Persian Gulf. Current deliveries from Badra to the pipeline stand at over […]

Malaysian Co eyes Helicopter Charter Market

By John Lee. Malaysia's Weststar Aviation Services is looking to tap the helicopter charter market in Iraq, according to a report from Astro Awani. Weststar group managing director and owner of Westar Aviation, Tan Sri Syed Azman Syed Ibrahim, said the company was planning to enter the market as early as next year and will […]

Development Work to Begin in Kut

By John Lee. A Malaysian firm has won a 71-billion Iraqi dinar ($61-million) contract to develop the southern area of Kut in Wasit [Wassit] province, according to a report from Al-Shorfa. Wasit governor Mahmoud Talal said: "The contract includes developing and rehabilitating the southern neighbourhoods of town by developing and paving streets and implementing water, […]

Malaysia Services Exhibition In Iraq

The Malaysia External Trade Development Corp (Matrade) is organising the Malaysia Services Exhibition (MSE) 2013 in Erbil, Kurdistan, Iraq on Oct 28-31 with a total of 17 participating Malaysian companies and 32 business representatives. Bernama describes it as an avenue to showcase the expertise and capabilities of Malaysian services companies, as well as to network […]

Malaysian Firms Urged to Tap Iraq Market

By John Lee. Malaysian companies have been urged to look into the vast opportunities in Iraq especially in construction, transportation, infrastructure and energy, according to a report from Bernama. The Iraqi Minister of Transport, Hadi Farhan Al-Amiri [Hadi al-Amari] (pictured), told the news agency that Iraq is seeking to tap Malaysian expertise as it looks […]

Production to Start at Gharraf this Month

By John Lee. Iraq's Ministry of Oil has announced that the long-awaited start of production at the Gharraf [Garraf] oilfield is now scheduled for the end of August. Initial output is expected to be 35,000 barrels per day (bpd). The company previously had a plan to start operations by September of last year, and were […]