In connection with the UK Serious Fraud Office (SFO)’s ongoing investigation into Petrofac Limited and its subsidiaries (“Petrofac”), on 6 February 2019 David Lufkin, 51, a British national, and previously Global Head of Sales for Petrofac International Limited, pleaded guilty at Westminster Magistrates’ Court to eleven counts of bribery, contrary to sections 1(1) and 1(2) […]
UK Export Finance (UKEF) has announced it will support UK firms with US $1.02 billion to build two new power stations in Iraq and support the restoration of a number of electricity substations in the country. US $1.02 billion in support for UK firms to build two new power stations Agreement will help build and […]
A new UK aid package is to help the Government of Iraq to reinvigorate its economy and rebuild hospitals, schools and other vital infrastructure, allowing Iraqis displaced by conflict to return home and restart their lives, UK Minister for the Middle East Alistair Burt announced during a four-day visit to Iraq. The UK is the […]
The Iraq Britain Business Council (IBBC) held its Council Meeting, dinner and eception for members on 28th January. The Council Meeting, hosted by Baroness Nicholson of Winterbourne, President of IBBC and the Prime Minister’s Trade Envoy to Iraq, Azerbaijan, Turkmenistan and Kazakhstan took place in the House of Lords before a Reception and Dinner at […]
By John Lee. The UK's foreign office minister for the Middle East has reportedly said that Iraq must wean itself off economic reliance on Iran and become more energy self-sufficient. On a visit to Iraq on Sunday, Alistair Burt (pictured) told Reuters: “To expect Iran to have no influence in Iraq is fanciful ... What […]
By Alexander Southworth, Iraq Britain Business Council (IBBC). Exploring Tech in Iraq: ‘Sandoog – solving Iraq’s logistics nightmare by digital innovation’ There is a revolution happening in Iraq but not like the country has seen before. This revolution is based on advances in technology that are transforming the digital landscape of the country. The changes […]
Shares in Genel Energy were trading up 6 percent on Monday afternoon after the company announced that it has reached agreement to acquire stakes in the Chevron-operated Sarta and Qara Dagh blocks (pictured), in the Kurdistan Region of Iraq. Genel will acquire 30% equity in the Sarta licence by paying a 50% share of ongoing […]
Iraq Britain Business Council (IBBC) has announced that Al Maseer Insurance Company has joined the Council. Founded in 2011, Al Maseer provide a range of insurance products covering the key sectors in Iraq: construction insurance, energy insurance, agriculture insurance, health insurance, marine insurance, motor insurance, property insurance. Chairman and co-founder, Arak Fadhil Hameed Al-Bayati, said […]
More than a million Iraqis whose lives have been devastated by Daesh safely returned home in 2018, made possible in part thanks to a huge UK aid funded mine clearance mission. The Department for International Development (DFID) has today (Saturday 5 January) announced further support to clear explosives from schools, hospitals and roads in Iraq, […]
By John Lee. UK-based Weir Group has reportedly signed a $5-million contract to provide "rotating equipment overhaul services" in Iraq. The client was not named, but was described as "a major Iraq JV". (Source: Arabian Industry)
By John Lee. A report from UK-based newspaper The Guardian says that British Government-backed projects to tackle the aftermath of the war in Iraq have been hindered by the UK’s continuing “hostile” immigration policy. It cites the example of a civil service training scheme involving a £330,000 contract between the General Company for the Ports […]
On Wednesday 12th December, the Iraq Britain Business Council (IBBC) was pleased to host a first meeting between the British Chambers of Commerce and Chamber of Commerce & Industry representatives from the Kurdish Region of Iraq. Erbil Chamber of Commerce is a founding member of IBBC and the IBBC is now the affiliate Chamber for […]
