Cursor International executes projects and collaboration activities across several industries.
By John Lee.
Iraq began Covid-19 (coronavirus) vaccinations on Tuesday, immediately following receipt of its first shipment of vaccines from China’s Sinopharm.
According to a government statement, the first to be vaccinated are healthcare workers.
(Source: Govt of Iraq)
The post Iraq begins COVID Vaccinations first appeared on Iraq Business News.
By John Lee.
Iraq’s Ministry of Oil has announced initial oil exports for February of 82,877,757 barrels, giving an average for the month of 2.960 million barrels per day (bpd), up from the 2.868 million bpd exported in January.
These exports from the oilfields in central and southern Iraq amounted to approximately 79,105,329 barrels, while exports from Kirkuk amounted to 3,727,428 barrels.
Revenues for the month were $5.027 billion at an average price of $60.330 per barrel.
January’s export figures can be found here.
(Source: Ministry of Oil)
The post Iraq Oil Exports Rise in February first appeared on Iraq Business News.
Paul Bond has today been sentenced to three and half years’ imprisonment for conspiring with others to bribe Iraqi public officials to secure lucrative oil contracts in post-occupation Iraq.
Earlier this week, Bond, a former senior sales manager at SBM Offshore (SBM), was found guilty on two counts of conspiracy to give corrupt payments following a retrial of his case at Southwark Crown Court.
This was the fourth conviction the SFO secured in its wide-scale Unaoil bribery investigation, which uncovered the payment of over $17m worth of bribes to secure $1.7bn worth of contracts for Unaoil and its clients.
In 2007, the Iraqi Ministry of Oil set out a ‘master plan’ to rebuild Iraq’s oil infrastructure, which had been destroyed after years of conflict. The post-occupation government tasked the state-owned South Oil Company (SOC) to commission the construction of new oil pipelines and the installation of single offshore mooring buoys (SPMs) in the Persian Gulf.
Together with Unaoil employees, Paul Bond funnelled $900,000 in bribes to Iraqi public officials at the SOC and the Ministry of Oil, which bought access to sensitive information, allowing Bond and others to skew the tendering process in SBM’s favour. SBM went on to win a $55m contract for the provision of SPMs.
Lisa Osofsky, Director of the Serious Fraud Office, said:
“Bond and his co-conspirators manipulated the tendering process for an infrastructure project vital to Iraq’s developing economy, with no regard for the impact.
The string of convictions in this case demonstrate the SFO’s determination to root out and prosecute corrupt practices in all corners of the globe working with law enforcement partners across the world. “
Bond’s conviction follows that of former Unaoil territory managers Stephen Whiteley and Ziad Akle, who were last year found guilty of conspiring to bribe Iraqi public officials to secure substantial oil contracts. In July 2019, Basil Al Jarah, Unaoil’s former Iraq partner, pleaded guilty to five counts of conspiracy to give corrupt payments, and later asked for a number of additional offences to be taken into consideration, in total admitting to paying over $17m in bribes to secure contracts worth $1.7bn.
Ziad Akle was sentenced to five years’ imprisonment, Stephen Whiteley to three years’ imprisonment, and Basil Al Jarah to three years and four months’ imprisonment for their crimes.
The SFO would like to thank the Australian Federal Police, the French Parquet National Financier, the Police Judiciaires of the Principality of Monaco, the Fiscal Information and Investigation Service (FIOD) of the Netherlands, the United States Department of Justice, Greater Manchester Police, the Metropolitan Police, the National Crime Agency and West Mercia Constabulary for their valuable assistance in this case.
(Source: SFO)
The post Fourth Oil Exec Jailed for Iraq Bribery first appeared on Iraq Business News.
Impact of COVID-19 on Environmental Sustainability in Iraq
Impact of COVID-19 on Environmental Sustainability in Iraq is the fifth in a series released by UNDP on the impact of COVID-19 in Iraq.
It emphasizes how the pandemic has exacerbated Iraq’s environmental fragility, which was already affected by legacies of conflict, lack of significant public sector and governance reforms, loss of development gains and illicit activity such as illegal hunting, fishing and logging, amongst other factors.
It outlines how the virus has led to some negative environmental impacts, such as increased quantities of medical waste, but also positive impacts, such as temporary improvements in air quality and ecosystems. It also proposes how key drivers of fragility can be addressed over time.
Click here to read the full report.
(Source: UN)
The post COVID-19 and Environmental Sustainability in Iraq first appeared on Iraq Business News.
By John Lee.
The Iraqi Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi.
At the start of the meeting, the Prime Minister praised the efforts of state institutions and agencies to ensure the implementation of curfew regulations, and thanked all citizens for adhering to preventative health measures.
Following discussions, the Cabinet agreed to authorise the Ministry of Health to purchase the coronavirus vaccine from the Chinese company Sinopharm.
(Source: Govt of Iraq)
The post Iraq to buy Chinese COVID Vaccine first appeared on Iraq Business News.
Iran’s minister of interior unveiled plans to shut the border with Iraq in the southwestern province of Khuzestan in order to contain a new wave of the coronavirus pandemic.
Speaking to reporters on Saturday, Abdolreza Rahmani Fazli said the Coronavirus Fight National Headquarters has made new decisions to control the coronavirus in Khuzestan province, where the number of COVID-19 cases has risen in recent days.
He said the border crossings with Iraq are going to be closed and travels between cities in the Khuzestan province will be prohibited.
He also expressed hope that cooperation from people would help control the situation in Khuzestan ahead of the new Iranian year’s holidays.
Officials have warned that the coronavirus has begun to spread rapidly in Khuzestan, stressing the need for new travel bans and strict control at the border.
Several cities in the southwestern Iranian province have been categorized as red zones with high risk of infection.
(Source: Tasnim, under Creative Commons licence)
The post Coronavirus: Iran to Shut Border with Iraq first appeared on Iraq Business News.
By John Lee.
Iraq has reportedly “put on hold” it oil contract with China’s Zhenhua Oil.
The multi-billion-dollar agreement would have seen Zhenhua pre-pay Iraq’s State Oil Marketing Organization (SOMO) for a regular supply of crude oil.
Oil prices have risen significantly since the deal was struck.
(Source: S&P Global)
The post Iraq “Pauses Oil Pre-Payment deal with China” first appeared on Iraq Business News.
By John Lee.
The Iraqi Cabinet has agreed to approve a recommendation from the National Investment Commission (NIC) for the Ministry of Electricity to proceed with an investment project for the construction of seven “alternative energy” power plants.
The new power stations are to be built in Karbala, Wasit, Babylon, and Al-Muthanna provinces.
(Source: Govt of Iraq)
The post Iraqi Cabinet approves New “Alternative Energy” Power Plants first appeared on Iraq Business News.
By John Lee.
The Iraqi Cabinet has agreed to allocate funds for the purchase of an additional 300 ambulances.
The decision was made at a meeting of the Cabinet (Council of Ministers) on Tuesday.
(Source: Govt of Iraq)
The post Iraq to buy New Ambulances first appeared on Iraq Business News.
By John Lee.
The Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi.
It received a briefing from the Minister of Health on the latest Covid-19 related developments and on the ongoing national efforts to contain the spread of the Coronavirus.
Following discussions, the Cabinet agreed to:
(Source: Govt of Iraq)
The post Iraq allocates additional resources for Labs, Medicines first appeared on Iraq Business News.