The International Finance Corporation (IFC), a member of the World Bank Group, is investing in Basrah Gas Company (BGC) to support one of the largest gas flaring reduction projects in the world, helping to improve energy access, prevent associated greenhouse gas (GHG) emissions and support a more resilient, sustainable energy sector in Iraq. BGC is […]
Tag Archives | Mitsui
Japan to Resume Lending to Iraq
By John Lee. Nikkei Asian Review reports that state-owned Japan Bank for International Cooperation (JBIC) and the country's two leading commercial banks -- Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking -- are preparing to make Japan's first loan to Iraq in 31 years. The consortium will support an Iraqi government power project with a […]
New Oil Bidding Round Postponed to Mid-2017
By John Lee. The Ministry of Oil is to postpone a bidding round for 12 small- and medium-sized oil fields, following criticism of the plans by experts including IBN Expert Blogger Ahmed Mousa Jiyad. In a statement, the Ministry's Petroleum Contracts and Licensing Directorate (PCLD) said: "Following to the previous Ministry of Oil Announcement dated […]
Jiyad: Min of Oil should Withdraw Plan to Offer 12 New Oilfields
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Ministry of Oil should withdraw its plan to offer 12 new oilfields. In a rather surprise move, the Ministry of Oil (MoO) announced its “intention” to offer 12 medium and small […]
New Oil Development Opportunities in Iraq
By John Lee. Iraq's Ministry of Oil has requested proposals from international oil companies interestsed in developing a number of small- and medium-sized oil fields. The fields concerned are: Sindebad (Basra governorate); Umm Qasr [Um Qaser] (Basra governorate); Rachi (Basra governorate); Abu Khema (Basra governorate); Kumait (Missan governorate); Noor (Missan governorate); Umara (Missan governorate); Dema […]
Oil Minister meets Japanese Delegation
By John Lee. Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] met recently with a delegation from the Japanese companies Toyo and Mitsui. The meeting was attended by the deputies of the minister and the Directors General. Minister Mahdi confirmed that Iraq is keen to strengthen relations with major global companies, expand cooperation in the […]
Iraq Shortlists Candidates for Jordan Pipeline
By John Lee. The Wall Street Journal and Reuters report that Iraq has shortlisted 12 international companies to build the new $18-billion oil export pipeline to Jordan, the country's first such pipeline in decades. Iraq's oil ministry has chosen these companies from a list of more than 80 international firms which submitted their credentials to build […]
New Fertilizer Plant for Basra
By John Lee. The Ministry of Industry and Minerals has announced an agreement with a Japanese Company to build a new plant for nitrogenous fertilizers in Basra province. A statement from the Ministry said: "The MoI represented by the Petrochemical Industries and Fertilizers Commission concluded a non-binding goodwill letter and Confidentiality Agreement with the Japanese […]
$2bn Japanese Fertiliser Plant for Basra
Reuters reports that a Japanese consortium is planning to build and operate a $2 billion fertilizer plant in Basra. Citing an article from Japanese business daily The Nikkei, they say the Japan International Cooperation Agency (JICA) will provide up to 150 million yen ($2 million) to Mitsui, Toyo Engineering Corp and Tokyo-based consulting firm Unico […]