By John Lee. Swiss-based Sulzer has signed an agreement to form a joint venture with the Unaoil Group to service of rotating equipment for oil and gas, and power customers in Southern Iraq. The joint venture (JV) will operate under the name of Sulzer Rotating Equipment FZCO and will have offices in Dubai, with local operations […]
By John Lee. According to a report from Reuters, a US federal appeals court has rejected Iraq's effort to sue dozens of companies for allegedly conspiring with the Saddam Hussein regime to subvert the United Nations' oil-for-food programme and deprive Iraqi citizens of humanitarian aid. The court said Iraq's government could not recoup damages under […]
Alstom has secured a contract with Eni Iraq B.V. to build the 740 MW Zubair gas-fired power plant near Basra. The contract is valued at close to €400 million. For this turnkey project, Alstom will be responsible for engineering, building and commissioning the plant as well as supplying key equipment - most notably four highly […]
By John Lee. An Iraqi parliamentary committee has asked the Commission of Integrity to investigate the contract awarded to Satarem to build a $6-billion refinery in Maysan. Iraq Business News' Expert Blogger Ahmed Mousa Jiyad recently questioned the legitimacy of the contract signed with the Swiss company, prompting the Ministry of Oil to issue a statement […]
By John Lee. Prime Minister Nouri al-Maliki says Iraq has signed a $6 billion deal with Swiss company Satarem to build and run southern Iraq's first new, large-scale refinery in 30 years. The oompany will set up the 150,000 barrel-per-day refinery near Amara, in Missan [Maysan] province, on a 50-year build-own-operate (BOO) contract. Satarem was created […]
ABB has won an order worth around $30 million from Zagros Energy to build four new transmission and distribution substations in the Kurdistan region of Iraq, as part of an overall initiative to expand and strengthen the regional power grid. The order was booked in the second quarter. Demand for reliable power is growing at […]
ABB, the global power and automation technology group, has won an order from LS Industrial Systems (LSIS) to deliver a utility communications solution that will serve seven electricity distribution control centers in Iraq. The project is part of a larger infrastructure improvement initiative currently being carried out by the Ministry of Electricity in Iraq, aimed […]
By John Lee. The Swiss Non-Resident Ambassador in Iraq, Michael Winzb, has presented his credentials to Foreign Minister Hoshyar Zebari. During the ceremony, the two sides discussed the development relations between the countries, and plans to gain full diplomatic representation. Minister Zebari stressed the Ministry's readiness to provide support and assistance for the success of […]
By John Lee. Swiss company Cotecna has been officially appointed by the Iraqi Central Organization for Standardization and Quality Control (COSQC), to handle the implementation of a verification of conformity program for goods imported into Iraq. Based on article 3 (clause 8) of Iraqi law n°54 of 1979, COSQC has been empowered by the Iraqi […]
By John Lee. Swiss luxury watchmaker TAG Heuer plans to open its first store in Iraq by either 2013 or 2014, company President and CEO Jean-Christophe Babin told Gulf News in an interview. Gulf News: You have opened a boutique in Iran and planning one for Iraq and Kurdistan. How much growth do you expect […]
By John Lee. Iraq's State Oil Marketing Organisation (SOMO) has finalised a deal to buy up to 1.097 million tonnes of gasoil for delivery next year from BP and Swiss trader Vitol, according to Reuters. The company has agreed to pay a premium of $7.99 a barrel above Middle East quotes on a delivered basis, […]
By John Lee. Iraq plans to invest up to $1.6 billion on renewable energy over the next three years, according to a report from Retuers. The new solar and wind power stations will to add 400 megawatts to the national grid, helping to close the gap between the 8,800 MW produced and the 14,000 MW needed. […]
