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  • Wolverine's Avatar
    Today, 01:03 PM
    6688 replies | 467929 view(s)
  • Investors Iraq News's Avatar
    Today, 09:11 AM
    DNO ASA, the Norwegian oil and gas operator, today announced expansion and acceleration of operations in the Kurdistan region of Iraq while building up its North Sea exposure. First quarter revenues, the highest in nearly four years, stood at USD 142 million and net profit at USD 18 million. The Company exited the quarter with cash balances of USD 518 million plus USD 76 million in treasury shares and marketable securities. The Company added a third license in Kurdistan following government and partner approvals of the previously announced transaction with ExxonMobil. Effective 10 April 2018, DNO assumed operatorship of the Baeshiqa license with a 40 percent (32 percent participating) interest alongside ExxonMobil, Turkish Energy Company and the Kurdistan Regional Government. At the Tawke license, the Company fast tracked development of the Peshkabir field with three new wells. The recently completed Peshkabir-4 well will shortly undergo production testing and the Peshkabir-5 well is drilling ahead at 2,250 meters. The Peshkabir-6 well was spudded as a development well last week and will also explore the field’s deeper Triassic formation. “We have the wind on our back,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani, “with higher oil prices, timely export payments in Kurdistan, a growing portfolio of quality assets, efficient drilling and bold strategy execution.“ On the DNO-operated Tawke license containing the Peshkabir and Tawke fields, 15,000 barrels of oil per day (bopd) of production from two Peshkabir wells are comingled with 90,000 bopd from the flagship Tawke field for export through Turkey. A new Tawke Cretaceous well was brought onstream earlier this month at more than 5,000 bopd. The Company will drill additional Tawke development wells in 2018 following mobilization of a fourth rig. Elsewhere, the Company acquired 28.71 percent of North Sea-focused Faroe Petroleum plc at a price of GBP 1.25 per share through four separate transactions in April, complementing DNO’s existing portfolio of 19 exploration licenses offshore Norway and the United Kingdom. DNO’s current cash balance stands at USD 356 million plus USD 280 million in treasury shares and marketable securities. The Company’s outstanding bond debt remains at USD 400 million and the equity ratio at 61 percent. (Source: DNO) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 28 view(s)
  • Investors Iraq News's Avatar
    Today, 07:06 AM
    By*Omar al-Jaffal for*Al-Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iran Business News. Saudi Arabia is considering investing in 2.5 million acres of agricultural land in Iraq’s western province of Anbar, which has suffered*both economically and otherwise after the bitter war to regain control of the province from the Islamic State.*If such an investment is made, it would be facilitated by the*Saudi-Iraqi Coordination Council, which was formed in October. The Iraqi Ministry of Commerce*announced the potential investment in a brief statement to the press April*4, but*did not disclose any further details on the matter. Iraqi-Saudi relations have remarkably improved since mid-2017, particularly after Iraqi Prime Minister Haider al-Abadi visited Riyadh in October. During that visit, an announcement was made on establishing the*Saudi-Iraqi*Coordination*Council, in the presence of Abadi, Saudi King Salman bin Abdul-Aziz Al Saud and then US Secretary of State Rex Tillerson. The*council aims to*develop*economic relations at all levels between Iraq and Saudi Arabia after nearly three decades of estrangement. It also seeks to open land borders, encourage investments, review the customs cooperation agreement and study the establishment of a trade zone. The*Ministry of Commerce’s media office declined to provide Al-Monitor with any details on the potential Saudi investment in Anbar. However, Yahya al-Mohammadi, a member of the Anbar provincial council, told Al-Monitor that officials in Anbar were indeed in contact with the Saudi Embassy in Baghdad, adding, “Provincial officials have noticed a Saudi desire to broadly invest in Anbar.” Meanwhile, Salman al-Ansari, chairman of the Washington-based*Saudi American Public Relation Affairs Committee, told Al-Monitor that the investment project in Anbar “will be launched soon.” A Iraqi political source told Al-Monitor on condition of anonymity about the nature of the investment project in Anbar, its economic feasibility, and all related security and political aspects. The source said the prospective investment will largely be “in the area of*Nukhayb, which lies on the borders of the province of Karbala and is also adjacent to the Saudi border.” The project “aims to build fields for breeding calves, as well as producing dairy products and drinking water.” Large dairy companies will likely be*established, mimicking a number of successful projects in Saudi Arabia. The source did not deny the*security objectives behind the project. “This area is lacking in security,” he said.*“It is located on Saudi Arabia’s border, and the two countries are trying to turn it into a labor-intensive business center, which brings stability to it rather than it posing a permanent threat to both countries.” He said that, politically, “Saudi Arabia certainly seeks to expand in Iraq, but will not follow the Iranian example, which occupies the Iraqi market without employing the labor force in Iraq.”*Saudi Arabia, he said, “seeks soft dominance in Iraq by creating jobs for Iraqis,” which will make its*“presence and influence in the political scene acceptable within the Iraqi society.” Nukhayb has long been a disputed area between Anbar and Karbala. Nukhayb is administratively affiliated with*Anbar province, but Karbala demands that it be annexed to its administrative borders. Security tension is common there, but the area has been relatively stable for nearly two years now. Mohammadi denied “an actual start of investment operations in Anbar.” He said, “Saudi Arabia and Iraq only discussed the projects put forward,” noting that*“this is due to the security and political instability in Iraq.” In fact, not many political forces and Shiite factions welcome the idea of Saudi Arabia coming to Iraq and establishing business operations*there. This rejection was demonstrated in March, when*the media reported an upcoming visit to Iraq by Saudi Crown Prince Mohammed bin*Salman*and, in response, Shiite factions and parties organized protests*in a number of cities in Iraq. Some Iraqi parliamentarians*from Shiite blocs are seeking to pass a law similar to the American Justice Against Sponsors of Terrorism Act*to sue Saudi Arabia for allegedly allowing its citizens to enter Iraq and commit acts of terrorism on its territory. Mohammadi ruled out the possibility that this would*intimidate*Saudi Arabia and stop*it from launching projects in Anbar. “The Iranian-Saudi conflict has a wide impact on the countries of the region,” he said, “but Iraq’s neutral policy has been boding well so far, and I hope it continues to achieve what is in the interest of Iraq.” Addressing*whether Saudi Arabia fears*for its investments in Iraq from pro-Iranian factions, Ansari said, “Saudi Arabia does not fear anyone and is capable of protecting its interests by all means, be it in the region or anywhere in the world.” Iraq needs a very balanced policy in dealing with its conflicting neighbors*Iran and Saudi Arabia, a fact that ought to be taken into account when either of these two countries wants to invest in Iraq, especially since both Iran and Saudi Arabia believe that*investments are also a gateway to influence Iraq’s political situation. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Investors Iraq News's Avatar
    Today, 07:06 AM
    By John Lee. Iraq could transport up to a million barrels of oil per day through the Jordanian port of Aqaba (pictured), according to a report from The National. Ali Nazar Faeq Al Shatari, deputy director general for the State Oil Marketing Organization (SOMO) told The National: “That project is still in place and we’re going to go ahead with it. We need another outlet for our crude oil,” There has been little detail on the scheme’s timeline for completion or the scope of the project. More here. (Source: The National) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 28 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:30 PM
    From PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. A week-long Flower Festival is being held in the Iraqi capital Baghdad to celebrate the arrival of spring. Foreign participants say they are speechless with the sight of Baghdad shining in full bloom. Press TV‘s correspondent, Altaf Ahmad, reports from the Iraqi capital: Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 27 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:30 PM
    From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Former members of the Iraqi national football team Ahmed Radhi and Chaker Mohammed Sabbar are battling off the pitch in the country’s parliamentary election. View on YouTube Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:30 PM
    At a major Iraqi business event*in London on Tuesday, there was a strong sense that Iraq’s perceived risk profile is improving, and that this is an excellent time to do business in the country. Nearly 300 delegates attended the Iraq Britain Business Council (IBBC)‘s Spring Conference at the Mansion House, which focused on “building a diversified and modern economy“, with many of those flying in from Iraq specially for the occasion. This record attendance was just one of the positive indicators in evidence at the event, with speakers pointing to improved security, better relations between the Kurdistan Regional Government (KRG) and the central government in Baghdad, and a growing trend towards up-skilling and capacity building in the local population; here at Iraq Business News, we’ve seen a positive indicator of our own, with a 15 percent increase in our website traffic over the past year. Closing the conference’s first day, IBBC Managing Director Christophe Michels also drew attention to the growing number of companies joining his organisation, and a much more relaxed atmosphere in Iraq’s major cities. The second day of the conference also saw a full house at the Royal Overseas League to discuss business opportunities for Iraqi and British small- and medium-sized enterprises (SMEs). (Picture: Baroness Fairhead CBE, UK Minister of State for Trade and Export Promotion, addressing the conference.) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Wolverine's Avatar
    Yesterday, 08:33 PM
    Trump May Be Involved In 1956 Lemonade Stand Scandal, Mueller Investigation Finds Special counsel’s office has also discovered irregularities in tax filings for a newspaper route president had in 1958 Donald Trump (left), with his siblings, at around the time he was duping other kids into buying watered down lemonade. (Credit: dailymail.com) "Once a cheat, always a cheat,” appears to be Donald Trump’s lifelong motto in both business and politics. New revelations from special counsel Robert Mueller’s office suggest that a 10-year-old Donnie Trump might have avoided paying taxes on $12,000 he earned at a lemonade stand over four months in the summer of 1956. New information out of Robert Mueller’s office suggest that Donald Trump was hatching tax scandal schemes even at the angelic age of 3. The probe also learned that Mr. Trump’s lemonade was watered down to include only 10% lemon juice and was exorbitantly priced at 25 cents a cup when other children in his Queens, NY neighborhood were only charging 10 cents per glass of cold refreshment. “Donnie’s lemonade was always warm, weak, and watery, but he got 25 cents by bullying other kids and even their parents into buying his swill,” said Louise Marks, a former neighbor of Donald Trump in his family’s old New York neighborhood. “Donnie told everyone that his father would have them evicted from their homes if they didn’t buy his diluted crap. We were scared, so what could we do? Read entire article with exclusive results of Mueller probe here: https://medium.com/@allanishac/trump-may-be-involved-in-1956-lemonade-stand-scandal-mueller-investigation-finds-b21e246d9fc2
    6688 replies | 467929 view(s)
  • Brazileiro's Avatar
    Yesterday, 05:14 PM
    Me too HB cause we know if it don't happen before Ramadan it won't happen til afterwards. Share suscription was announced on 14 March so 4-8 weeks after puts us between now and mid May. I've lived in South America for so long now you think I'd be used to no one having any sense of urgency in getting something done lol.
    3 replies | 149 view(s)
  • haggisbasher's Avatar
    Yesterday, 04:00 PM
    Am hoping Warka announces AGM at the end of this month, that will be 30 days since they called for share option.?
    3 replies | 149 view(s)
  • Will-it-happen?'s Avatar
    Yesterday, 02:12 PM
    its not often you speak sense, but today you do
    3 replies | 149 view(s)
  • BatmaninIraq's Avatar
    Yesterday, 10:25 AM
    4-24-2018 Newshound Guru MilitiaMan Article “The Central Bank signs a memorandum with Visa International tomorrow” This is the same day for the start of the Financial Inclusion... Smells International! Article 8, convertible currency... What we all know now is that is about to change starting from what they say: TOMORROW. The memorandum with VISA comes the day of the beginning of Financial Inclusion. ...they were given phones by the CBI months ago and those phones are being used for a purpose and that purpose is now openly stated by the CBI that they are about to distribute the new notes and that they have a suitable environment. Citizens are getting TEXT MESSAGES now to come in and get paid, cards, exchange, etc...The program rate is imo about to change and they clearly are not hiding it. The process is underway and almost complete. I believe your witnessing that each and everyday.
    3 replies | 149 view(s)
  • Will-it-happen?'s Avatar
    Yesterday, 04:32 AM
    Nice, Visa International to enter iraq
    83 replies | 11379 view(s)
  • Brazileiro's Avatar
    Yesterday, 12:32 AM
    I read a Bunnia family member ponied up 45 billion IQD towards capital, and that Warka is using property Warka owns valued around 300 billion iqd as collateral to the CBI. If true then things will be looking good at the GA meeting. I am anxiously waiting for that to happen :)
    22 replies | 1787 view(s)
  • BatmaninIraq's Avatar
    Yesterday, 12:30 AM
    Banks Economy News Baghdad:The Central Bank of Iraq announced that it will sign a memorandum with Visa International on Wednesday to grant its legal framework within Iraq."On Wednesday, the central bank will sign a memorandum of understanding with Visa International that will provide the legal framework for the company in terms of providing services, consultancy and support to the banking and financial sector," said Central Bank Payments Department Director, Duha Abdel Kareem."The presence of Visa International in Baghdad will make a positive change on the economic market," adding that "the central bank has steps to support competition between international financial companies
    83 replies | 11379 view(s)
  • Will-it-happen?'s Avatar
    Yesterday, 12:06 AM
    anyone tried liquidating other shares and cashing out ?
    22 replies | 1787 view(s)
  • dinar shore's Avatar
    04-24-2018, 09:50 PM
    I am one of the longest members at Investors Iraq and Mr. Issa was always there to process my USD happily. He always used English on the process. Nothing but English on the stocks that hundreds bought like me. I no longer trust Iraq banks but I hope I can get half of what I paid in over the years. I hope that I am wrong but there is a smell in Iraq’s banks and stocks that can’t clear the room. Good luck to all of us.
    18 replies | 792 view(s)
  • Brazileiro's Avatar
    04-24-2018, 11:49 AM
    I use these 2 emails for Mr Issa - mohammad.k.issa@warka-bank-iq.com ifrd@warka-bank-iq.com Response time has been good the last couple months. Usually the same day, before I didn't get a response many times unless for a password renew/reset.
    18 replies | 792 view(s)
  • crazyfrank's Avatar
    04-24-2018, 11:03 AM
    Brazileiro You are getting mail from Warka we see, what is the e mail address that is now responding to you, and was is the average lag time for a reply there?
    18 replies | 792 view(s)
  • haggisbasher's Avatar
    04-24-2018, 10:45 AM
    Thanks for that,i hope Al Bunnia steps up and goes all out for Warka,good read.
    22 replies | 1787 view(s)
  • Brazileiro's Avatar
    04-24-2018, 09:50 AM
    Thanks for the info! I'm hoping things happen soon (before Ramadan) and we get access to our cash :)
    22 replies | 1787 view(s)
  • Brazileiro's Avatar
    04-24-2018, 09:29 AM
    I got this email from Mr Issa today regarding this matter. It does not pertain to foreigners living outside of Iraq. It is only for Iraqis and foreigners living in Iraq. Dear Sir, Accordance to the regulations set by the CBI local clients (Iraqi Clients and foreigners residing in Iraq ) are required to updated their information where no account will be frozen. This matter related to clients with permanent and temporary residency in Iraq. Best regards, Mohammad K. Issa Managing Director Senior Executive Warka Bank for Investment and Finance
    18 replies | 792 view(s)
  • Will-it-happen?'s Avatar
    04-24-2018, 08:04 AM
    i just got an email from warka asking me to send in my auth letter with id and passport to buy the shares. this is despite my already sending in such a request (however id was saved as .pdf file) so i have resent my stuff again (and asked for an additional 500k too) reckon will happen v soon , like this month
    22 replies | 1787 view(s)
  • Investors Iraq News's Avatar
    04-24-2018, 01:40 AM
    By John Lee. Iraq has extended the deadline to bid for the construction and operation of a new 100,000-bpd Qayara refinery. The full statement from the Ministry of Oil is as follows: The ministry of oil would like to announce for the investment refinery in Ninawa governorate/ Qayara with a capacity of 100 thousand barrels / day. The execution is according to the methods of BOOT or BOO and according to the investment law of the refineries No.64 for the year 2007 and its amendments. The products of the refinery must be environment friendly according to the international standards. The tax breaks must be according to the investment law No.13 for the year 2006. In accordance with the second amendment of the investment law No.64 for the year 2007. The subtraction on the crude oil price over the ship is (8%) “The subtraction must be more than 5$ and less than 10$ of the global price”. The studies, planning and follow-up directorate in the ministry of oil have prepared the data portfolio of the refinery and the price of the data portfolio shall be (30) thousand dollars, or its equivalent in Iraqi Dinars “nonrefundable”. –* The closing date of selling data portfolios is at the end of the work hours of Tuesday the 15th of May 2018. –* The receipt of the documents from the companies whom would like to invest in the above mentioned refinery must be to the end of the work hours of Thursday the 14th of June 2018. The presentation of the documents will be to the Studies Planning & Follow-up Directorate directly in a closed envelop. Otherwise the documents will be rejected. For further information please contact the E-mails (studies@oil.gov.iq) or (studies.oil@gmail.com). (Source: Ministry of Oil) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 92 view(s)
  • crazyfrank's Avatar
    04-24-2018, 12:27 AM
    Well the renewed interest got my eye a few weeks ago, so I began looking here again to see if I could weed through the smoke and mirrors. Its been amazingly over 10 years now waiting for me as well. I see a few pumpers for an overnight RV still (business as usual) and a flurry of activity on the Warka web page. I have myself recently sent off work into the e-mail void for updated access and updated data from the ISX department, and I am not holding my breath on that. As it appears response time is a 50/50 chance or none at all, again business as usual. So what I see now is there is this general assembly meeting to occur TBD, and an upcoming nationwide general election May 12th I believe. This clown Malaki is in the wings running again, apparently he is still one of 3 or 4 current vice-presidents still? If he pulls off a win, then its all over, lights out, release the pigeons, and just might as well wallpaper the bathrooms with this stuff. Then on May 15th they all go into hibernation for this Ramadan hootenanny for 2 weeks. So based on all that............ I don't see much improvement after 10 years myself, and I decline to agree with the pumpers, nor would I even wager a estimate in this life time on any of this investment paying off. So to answer the question........... stay or go? Where can we go? Warka does not respond, you can dump what currency we may have on Ebay maybe, that's about all that any of us to do. Aside from just walking away, use it as a write off investment, or send paper work to the bank to pass down Probate data for next of kin, and hope it works out for them 30 years or so from now.
    5 replies | 238 view(s)
  • Investors Iraq News's Avatar
    04-23-2018, 11:40 PM
    By John Lee. Iraq’s*Ministry of Oil has announced final oil exports for March of 107,050,000 barrels, giving an average for the month of 3.453 million barrels per day (bpd), a slight increase from the 3.426 bpd exported in February. The exports were entirely from the southern terminals, through 39 international companies, with no exports registered from Kirkuk via Ceyhan. Revenues for the month were* $6.435 billion at an average price of $60.114 per barrel. February export figures can be found here. (Source: Ministry of Oil) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 76 view(s)
  • Investors Iraq News's Avatar
    04-23-2018, 11:40 PM
    For World Book Day 2018, the*AMAR International Charitable Foundation has delivered over 6,000 illustrated children’s books to displaced children in Iraq, all specifically designed for IDP youth. Hussein Al-Alak (pictured below), who is running the Manchester 10k on behalf of AMAR, said: “It’s the only charity in the United Kingdom that supports health, education and, more importantly, mental health programmes, in Iraq … “You’ve got a lot of amazing causes and it’s nice to be able to say: ‘This is what we’re doing at AMAR’.“ You can help AMAR in its essential work in Iraq by donating here. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 70 view(s)
  • Investors Iraq News's Avatar
    04-23-2018, 11:40 PM
    KRG Prime Minister Barzani’s statement on the construction of US mission in Erbil: Mr. Ambassador of the United States to Iraq, Mr. Consul General Ladies and Gentlemen, Good morning. I am pleased to be here, with you, today and take part in the announcement of building a new compound for the U.S. Consulate General in the Kurdistan Region. I applaud such a decision and see it as an important step.* I hope that the construction will be completed as planned and on schedule. The U.S Consulate General in Erbil is considered to be the first consulate to build its own compound in Erbil. This shows the United States’ trust in the promising future of the Kurdistan Region and it is a sign of the United States’ will for strengthening its relations with the Kurdistan Region on the basis of the diplomatic relations that it has with federal Iraq. Ladies and Gentlemen, The relations between the United States and the Kurdistan Region are not new, but they have been formed and strengthened over the years. After the uprising of the people of Kurdistan in 1991, the U.S. and other members of the international community had a major role in introducing a safe haven, which resulted in the protection of the people of the Kurdistan Region. During the overthrow of Baath regime and later in the fight against ISIS and their defeat, the U.S. continued to improve its relationships with the Kurdistan Region by supporting the stability of the region. Today, as we secured stability, the U.S. is starting to build a new home for its Consulate General in Erbil to continue its already strong relations with the Kurdistan Region and we hope that it will continue to develop strategic and long-term ties with the Region. The people and the government of the Kurdistan Region highly appreciate the political, military and humanitarian supports provided by the U.S. The Kurdistan Region is eager to further develop strong relationships with the U.S., based on mutual interests in politics, economics, trade, science, culture and other fields. Similarly, the Kurdistan Region is trying to continue to build good relations with neighbouring countries, countries in the region and across the world. The people of the Kurdistan Region and the Kurdistan Regional Government share the same values and principles as the U.S. and the modern world.* They, too, believe in the same values and concepts such as freedom, democracy, human rights, diversity, openness, tolerance, youth and women empowerment and the free market. The Peshmergas fought alongside the American and international coalition forces to protect these values. Ladies and Gentlemen, I would like to congratulate and commend the representative of the U.S. diplomatic mission in Iraq, who came from Baghdad to join us today, for the construction of a new compound for their Consulate in Erbil. I also would like to take this opportunity to thank the former and current American ambassadors and consuls in Baghdad and Erbil for their efforts to improve the relations between the U.S. and the Kurdistan Region. I would also like to thank the military, USAID teams and all the organizations and agencies from the U.S. that have worked and served in the Kurdistan Region. I commend them and we look forward to enhance the cooperation and collaboration between the United States of America and the Kurdistan Region. We would like to see all the neighboring countries, countries in the region and across the world, to follow the United States in building diplomatic compounds in the Kurdistan Region, as we strive to build and improve good relations with them within a federal Iraq. In the end, I wish to see all nations in the world enjoy peace, stability and prosperity. Thank you and have a good day. (Source: KRG) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 72 view(s)
  • Investors Iraq News's Avatar
    04-23-2018, 11:40 PM
    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 Culture Firiyad Rawanduzi for the $50.4 million project in coordination with the UN’s heritage agency. “This is a historic partnership, the largest and unprecedented cooperation to rebuild cultural heritage in Iraq ever,” UNESCO Director General Audrey Azoulay stated, welcoming the agreement. More here. (Source: Rudaw) (Picture credit: Faisal Jeber) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 73 view(s)
  • Investors Iraq News's Avatar
    04-23-2018, 11:40 PM
    Germany’s Siemens has won a contract to add 700 megawatts (MW) to the Rumaila Gas Power Plant, which currently has a power generation capacity of 1500 MW. Siemens will supply its highly-efficient SST-5000 steam turbines, ensuring the additional power supply comes at no extra fuel requirement while increasing the overall power plant efficiency to more than 50 percent by converting the facility into combined cycle mode. This upgrade delivered by Siemens equipment will supply around one million Iraqis with clean and efficient electricity Siemens was awarded the contract by Sinohydro, the Chinese state-owned hydropower engineering and construction company. The developer is KAR Electrical Power Production Trading FZE. Previously, Siemens had supplied five of its SGT5-4000F gas turbines to the plant, which was one of the first large-scale gas-fired facilities installed and commissioned in Iraq in 2013. The upgrade works are scheduled for completion by 2020. (Source: Siemens) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 71 view(s)
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