Saudi Arabia’s Industrialization and Energy Services Company (TAQA) has announced that its drilling subsidiary, Arabian Drilling Company (ADC), has agreed to acquire Schlumberger’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million (SAR 1.56 billion). According to a TAQA press release, the transaction transforms ADC into a regionaldrilling leader […]
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for March of 104,696,872 barrels, giving an average for the month of 3.377 million barrels per day (bpd), down from the 3.621 bpd exported in February. These exports from the oilfields in central and southern Iraq amounted to 100,909,946 barrels, while exports from […]
Finnish technology group Wärtsilä has said it will supply the equipment to enable an efficient, reliable, and independent power source for an Iraqi cement producing plant. The 20 MW engine power plant is being built by Al Shumookh Lucky Investments Ltd, a JV company of Lucky Cement Limited and a limited liability company registered in […]
By John Lee. Petrofac has announced that it has secured new awards and contract extensions, with a combined value of over US$30 million, to provide training solutions for key National Oil Company and International Oil Company clients in Oman, the UAE and Iraq. In Iraq, where Petrofac has delivered more than 50,000 in-country delegate training […]
By Omar al-Jaffal for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Conservatives in Iraq's Najaf want to legislate religiosity Hundreds of residents in Iraq's Najaf province rallied and called for a new law that would "strengthen the sanctity" of the […]
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]
Advertising Feature By Veronica Cotdemiey, CEO of Citizenship Invest. 6 questions you must ask when obtaining a second citizenship Citizenship programs offer people a chance to obtain a second powerful nationality that allows them freedom of movement and security for their families, as well as a better way to safekeep their businesses and wealth. However, […]
New IEA report provides practical roadmap to address Iraq’s current electricity shortfall and future energy needs Iraq, one of the world's biggest energy producers, can address its current electricity shortfall and growing power needs through immediate action to relieve pressure on the system, according to an in-depth report published Thursday by the International Energy Agency […]
By John Lee. Foreign Minister Mr. Mohamad A. Alhakim Head of the Iraqi side and Russian Deputy Prime Minister Mr. Yury Borisov Head of the Russian side, signed the joint meeting minutes of the eighth session of the joint Iraqi-Russian committee. They agreed to develop and enhance mutual cooperation in various productive and service sectors, as well […]
Cumulative production at the West Qurna-2 field has reached 100 million tons of oil as part of successful implementation of Phase 1 of the project. With 184 wells drilled at the field, the average daily production rate is 400,000 barrels. Operator Lukoil said in a statement that, to manage the field's production, it uses "the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th April 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD584 (-1.2%) / $629 (-1.1%) (weekly change) (-11.4% and -11.4% YTD change, respectively). The number of week traded […]
By John Lee. The National Investment Commission (NIC) has announced a new investment opportunity in Iraq: Rehabilitation of Bismayah Connecting Road, Ministry of Construction, Municipalities and Public Works (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)
