By John Lee. Iraq's Mass Group Holding has bought a power plant in Romania. According to a statement from the administrator, Expert Insolventa SRL, the company has bought the Mintia thermal power plant (pictured) from Complexului Energetic Hunedoara SA for 91.2 million euro ($91 million) in a public auction. Mass Global Energy Rom, a subsidiary […]
By John Lee. The Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. Following discussions, the Cabinet authorised the Ministry of Finance to negotiate and initialize a draft agreement for the avoidance of double taxation and the prevention of tax evasion on income and capital, between Iraq and Jordan, […]
The United Nations Development Programme (UNDP) in Iraq welcomes a EUR 50,000 (US$ 56,609) contribution from the Government of Romania to UNDP's Funding Facility for Stabilization (FFS), which implements fast-track initiatives to stabilize areas liberated from the Islamic State of Iraq and the Levant (ISIL). Romania's first contribution makes it the 30th partner to fund […]
A high-level meeting between the United Nations and international donors took place in Baghdad to discuss the United Nations' updated development strategy for Iraq. The meeting focused on the 2020-2024 United Nations Sustainable Development Cooperation Framework (UNSDCF), which was signed by the Government of Iraq in September. The UN was represented by the Deputy Special […]
The Ambassadors of Canada, Croatia, Czech Republic, Finland, France, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Romania, Spain, Sweden, the United Kingdom and the United States condemn the excessive and lethal use of force by Iraqi security forces and armed groups since 24 January against peaceful protestors, including in Baghdad, Nasiriya and Basra. Despite assurances […]
A federal jury convicted a Romanian citizen for his role in a government contract kickback scheme that caused a loss of more than $3.4 million to the U.S. Department of State. According to court records and evidence presented at trial, Emil Popsecu, 49, conspired to violate the Anti-Kickback Act related to the lease of real […]
By John Lee. The Minister of Water Resources, Dr.Hassan Janabi, has met with the Romanian Ambassador in Baghdad, Mr. Lacop Prada and the Economic Officer of the Embassy. During the meeting, they discussed cooperation in the area of irrigation, and the possible contribution of Romanian companies in dredging the Tigris and Euphrates rivers and preparing […]
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 […]
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 […]
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 […]
By John Lee. Syscom 18, the Romanian-based system integrator for the oil and gas sector, is reported to be "grappling with" the effects of the ongoing conflict in Iraq. General Manager Ion Andronache told Business Review that projects worth “several millions of euros annually” are at risk and could have a negative impact on its turnover. […]
The Romanian Ambassador to Iraq, Mr Jacob Prada, met with Minister Falah Mustafa today to discuss ways to further develop ties with the Kurdistan Region of Iraq. The meeting took place a day after the Romanian Consular Office hosted their first National Day celebration in Erbil. Also present in the meeting was the Assistant Head […]
