By John Lee. The Iraqi cabinet has agreed to allow the Basra Oil Company (BOC) to take over ExxonMobil's holding in the West Qurna 1 oilfield, at a price of up to $350 million. Addressing media after Wednesday's cabinet meeting, Minister of Communications Arkan Al-Shaibani (pictured) said the cabinet also allocated an initial payment of […]
The Kurdistan Region's High Committee for Combating COVID-19 met on Tuesday and issued the following directives as part of the Kurdistan Regional Government's efforts to curb the spread of the pandemic: The vaccination deadline for public service employees (civil and military) will be extended to 20 January 2022. Any employee who fails to adhere to […]
By John Lee. Ardh Al-Mewada has won contracts with the United Nations Office for Project Services (UNOPS) for the provision the following for Primary Health Centers in Anbar: Lot 1 - Supply & Installation of Medical Equipment: Contract value $58,500 Lot 2 - Supply & Installation of Furniture: Contract value $68,870 Lot 3 - Supply […]
Genel Energy has announced that drilling operations on the QD-2 well at Qara Dagh (40% working interest and operator) have been suspended. As previously stated, the well had been side-tracked in response to encountering more complex geology above the target reservoir than expected. Two further side-tracks have been initiated, but the licence partners have now […]
By John Lee. The National Investment Commission (NIC) has opened a new entrance to the city of Bismayah, near Baghdad. Head of the NIC, Suha Daoud Najjar [Suha Dawood Najar], said the road will reduce traffic and facilitate smooth entry for residents into the complex. It is 235 meters long and 50 meters wide, connecting […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq Oil Licenses Rounds - Views of the Architect and the Technocrat, Ten Years On Petroleum licensing rounds, 2009-2010, are the most significant and impacting development that took place in post 2003 […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for December of 101,579,927 barrels, giving an average for the month of 3.277 million barrels per day (bpd), almost equal to the 3.273 million bpd exported in November. The exports from the oilfields in central and southern Iraq amounted to approximately 98,570,290 barrels; […]
By John Lee. The head of Iraq's National Investment Commission (NIC), Ms. Suha Daoud Najjar [Suha Dawood Najar] has reiterated the importance of reviving the Iraqi Marshes, and enabling them to receive tourists. At a meeting with the Director General of the Marshes, Mr. Hussein Ali Hussein, and his accompanying delegation, she said investment opportunities […]
By John Lee. The preliminary principles agreement for the Al-Faw investment refinery project has been signed in Baghdad. The refinery will have a capacity of 300,000 barrels per day, while the petrochemical complex will be able to produce 3 million tons [per annum?]. The Minister of Oil, Ihsan Abdul-Jabbar Ismail, said that this project will […]
By John Lee. The Iraqi cabinet has required the developer of the Al-Khairat [Al-Khayrat] power station to also supply smart meters for use by domestic and industrial customers. According to a statement from the Cabinet, the investing company, which it says is Harlow International, will prepare between 100,000 and 150,000 smart meters, in addition to […]
Once an ISIL Prison, today a safe space for young people; MOYS, UNFPA inaugurate Ramadi Youth Centre The Ministry of Youth and Sports, the Governorate of Anbar and UNFPA re-opened the Ramadi Youth Safe Space on 25 December. The Youth Safe Space serves as a place for girls and boys to receive life and leadership […]
The Board of Governors of China's Asian Infrastructure Investment Bank (AIIB) has approved the application of Iraq to join the Bank. Iraq becomes AIIB's 51st regional member, bringing the Bank's approved membership to 105 in total. As a multilateral development bank with the mission of financing infrastructure for tomorrow, AIIB aims to support its members […]
