6 November 2006 Three-and-a-half years after the toppling of Saddam Hussein’s regime in Iraq, some companies that had high hopes of business opportunities are shutting up shop after suffering heavy losses. US engineering giant Bechtel, which carried out $2.3 billion of work for the US in Iraq since April 2003, said last week that it was leaving the war-torn country after a spate of violence that killed 52 workers. Bechtel…
Tag: NOC
Iraqi Oil Minister Sets Up Committees in Bid to Fight Corruption
14 June 2005 Iraq’s Oil Minister Ibrahim Bahr al-Uloum has set up three new committees for marketing, contracts and downstream in a bid to fight corruption, as promised when he took over in May, Iraqi sources said. However, the sources warned that the new formula of running the oil ministry’s affairs by committees could paralyze the workings of the different departments by adding a new layer of bureaucracy. Just a…
Iraqi Officials Replaced In Political Move
1 July 2005 Two of Iraq’s top oil officials have been replaced by the country’s new oil minister, in a move widely regarded as politically motivated. The changes represent the second major shake up of the oil ministry since Ibrahim Bahr al-Uloum was appointed as minister in May, Baghdad sources told International Oil Daily Thursday. Nabil Lamuza, director general of planning and studies, was replaced by an outsider, Fayad Hassan…
Iraq Builds Modern Database After Sanctions, Chaos
7 July 2005 Regardless of its official name, Iraq Oil Exploration Co. (IOEC) has done little in the way of exploration for the past 15 years — and is unlikely to start exploring the country’s vast areas anytime soon, in the absence of seismic equipment and trained staff. However, since the collapse of the Baath regime in 2003, the company has been focusing on building a modern National Data Center…