Crescent Petroleum and Dana Gas deliver vital support to AMAR IDP clinics As Iraq’s security conditions have improved, international donors have turned their attention to other troubled parts of the world, leaving many IDP camps in the country on the brink of closure. Thanks to the continued support of Crescent Petroleum and Dana Gas, however, […]
By John Lee. Fleet Line Shipping (FLS) has won a contract to transport 11,000 tons oil and gas equipment and pipes from the United Arab Emirates (UAE) to Iraq. The first batch of pipe laying machines, each weighing 45 tons, was loaded on a ro-ro ship from Jebel Ali to the port of Umm Qasr […]
By John Lee. Dana Gas has said it has received $43.8 million in dividends from Pearl Petroleum Company Limited for condensate and LPG sales in the Kurdistan Region of Iraq (KRI) in the first half of 2018, including a $7 million payment for the month of June. The company added that the capacity to process […]
By Sadek Ali. Resounding Victory At the height of its reach, Daesh occupied almost 40% of Iraq’s territory. A tragedy for the communities they enslaved and also for Iraq’s economy: the area occupeid produced 80 thousand barrels of crude oil in 2014. The December 2017 liberation of Iraq was therefore a significant release for both […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. When the Al-Nouri Mosque and the adjacent al-Hadba minaret in Mosul were bombed by the Islamic State (IS) on June 21, 2017, many thought that the landmark mosque […]
By John Lee. Sharjah-based Ducorr has reportedly completed the design and deployment of a cathodic protection system for Shell’s Majnoon oil field. Construction Week Online quotes company sources as saying that the flowlines were buried in very corrosive soil, hence the need for protection. (Source: Construction Week Online)
By John Lee. Iraq's Ministy of Oil has awarded all four development projects, and two of the seven exploration blocks, that it offered in its fifth auction of oil licences. Only nine of the 26 companies originally pre-qualified took part in the auction, with majors such as Lukoil (Russia), ExxonMobil (US) and Total (France) not bidding. Development […]
By John Lee. UAE’s Minister of Culture has reportedly signed an agreement funding the rebuilding of Mosul’s famed al-Hadba minaret, which was destroyed by the Islamic State group (IS, ISIS, ISIL, Daesh) in the last weeks of the war. According to a report from Rudaw, Minister Noura al-Kaabi signed the agreement with Iraq’s Minister of […]
By John Lee. Zawya reports that the Iraqi cabinet has asked the National Investment Commission (NIC) to go ahead with the huge Al-Rashid City project planned for Baghdad. The $10-billion development is to be carried out by Dubai’s Emaar Properties and Abu Dhabi’s Eagle Hills, and will include the building of "up to" (sic) 64,000 […]
By Laura Rozen for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The dealmaker: Mueller witness helped broker $4.2 billion Iraq-Russia arms deal A Lebanese-American businessman reported to be cooperating with Special Counsel Robert Mueller’s Russia probe helped broker a controversial 2012 Iraq-Russia arms deal valued at […]
Kuwait Energy Signs Block 9, Iraq Farm-out Agreement with Dragon Oil Kuwait Energy (KEC) has announced the signing of the Block 9, Iraq Farm-out Agreement with Dragon Oil (a wholly-owned subsidiary of Emirates National Oil Company Ltd, the national oil company of Dubai). As per the Farm-out Agreement, Kuwait Energy will assign a 15% participating […]
By John Lee. UAE-based Crescent Petroleum is reportedly planning a significant increase in its production of natural gas at its Pearl Petroleum operations in Iraq. President Badr Jafar (pictured) is quoted as saying that there will be an investment of $1 billion to boost production to 500 million cubic feet of gas per day by […]
