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Iraq Business
3 days ago
- Business
- Iraq Business
KBR Secures Two-Year Contract Extension at Majnoon Oil Field
By John Lee. KBR has announced the renewal of its engineering, procurement, and construction management (EPCM) contract with Basra Oil Company (BOC) for the Majnoon oil field in Iraq, extending the agreement for another two years. Under the contract, KBR will continue delivering EPCM services to support production targets, enhance operational efficiency, improve safety, and increase local content. Jay Ibrahim, President of KBR Sustainable Technology Solutions, emphasised KBR's role in advancing the sustainable development of the Majnoon field, a key national asset. Mr. Kadhim Kareem, CEO of the Majnoon Field at BOC, confirmed KBR's status as a strategic partner in delivering safe and efficient projects that support the field's long-term development. Days earlier, the US-based firm was awarded a front-end engineering design (FEED) contract by KAR Electrical Power Production Trading FZE (KEPPT) for the development of a major fertilizer facility in Basra. (Source: KBR)
Yahoo
6 days ago
- Business
- Yahoo
KBR Secures Two-Year Renewal of EPCM Contract with Basra Oil Company for the Majnoon Oil Field in Iraq
HOUSTON, July 17, 2025 (GLOBE NEWSWIRE) -- KBR (NYSE: KBR) announced today that it has secured the renewal of its engineering, procurement, and construction management (EPCM) contract with Basra Oil Company (BOC) for the Majnoon Oil Field for an additional two years. Under the contract, KBR will continue to provide comprehensive EPCM services to help BOC sustain forecasted production capacity, enhance operational efficiency, maximize local content, and drive continued safety improvements. 'This contract extension is a testament to the strong working relationship between KBR and BOC, and further reinforces KBR's ongoing commitment to Iraq's national energy strategy and the sustainable development of the Majnoon field, one of the most strategic assets in the country,' said Jay Ibrahim, President, KBR Sustainable Technology Solutions. 'KBR is committed to support local development and contribute to Iraq's long-term domestic capacity enhancement.' 'KBR will continue to be our strategic partner in EPCM projects in Majnoon, successfully supporting our long-term development goals and maximizing field potential through safe, efficient, and sustainable project execution,' said Mr. Kadhim Kareem, CEO of the Majnoon Field at Basra Oil Company. KBR's team in Iraq comprises a high number of local professionals to meet the targeted percentages at the Majnoon site and other regional hubs, ensuring the seamless execution of ongoing and upcoming projects as part of the Growth II Program. About KBRWe deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 38,000 people worldwide with customers in more than 80 countries and operations in over 29 countries. KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver. Visit Forward Looking Statements The statements in this press release that are not historical statements, including statements regarding project performance and outcomes and future demand for the company's services, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company's control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason. For further information, please contact: Jamie DuBrayVice President, Investor Relations713-753-5082Investors@ Philip IvyVice President, Global Communications and Marketing 713-753-3800MediaRelations@
IOL News
6 days ago
- Business
- IOL News
Numsa secures vital wage agreement with Bombela Operating Company for Gautrain staff
The National Union of Metalworkers of South Africa (Numsa) has welcomed the signing of a new wage agreement with the Bombela Operating Company (BOC). Image: Thobile Mathonsi / Independent Newspapers The National Union of Metalworkers of South Africa (Numsa) has confirmed and welcomed the signing of a new wage agreement of one year with the Bombela Operating Company (BOC), a company that manages the Gautrain. Numsa spokesperson, Phakamile Hlubi-Majola, in a statement on Thursday, indicated that the agreement was signed on Wednesday, July 16, and is valid from July 1, 2025, to June 30, 2026, with the agreement broken down in different ways. "We have negotiated a 4.25% wage increase across the board, a housing allowance from R1,300 to R1,400, while for night work and transport allowance has increased from R112 to R125. Night shift allowance increased from R38 to R40 per hour, while KPI bonus increased in terms of the wage increase at a rate of 4.25% from R9,600 to R10,016. The agreement will be backdated to the 1st of July," she said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Hlubi-Majola stated that the union is satisfied with the agreement as it was negotiated under 'very difficult conditions' of a low March CPI rate of 2.7%. "One of the benefits of this agreement is that all of the allowances increased by more than 4.25% across the board. Numsa is satisfied with the agreement because it was negotiated under very difficult conditions of a low March CPI rate of 2.7%. One of the benefits of this agreement is that all of the allowances increased by more than the 4.25% across-the-board increase," she added. The latest agreement comes hot on the heels of a negotiation process that deadlocked on June 9 and threatened the possibility of a strike. In a separate statement, the BOC, which operates the Gautrain, revealed that the agreement follows a ballot held on Tuesday, July 15, in which the majority of Numsa-affiliated employees voted against a strike action. "The signing of this agreement reflects a shared commitment to constructive dialogue, mutual respect, and the long-term success of our operations. We extend our sincere appreciation to all employees and union officials for their professionalism, patience, and cooperation throughout the process," the operating company said.
GMA Network
6 days ago
- GMA Network
Customs seizes P749M shabu concealed in balikbayan boxes
Operatives of the Bureau of Customs (BOC) seized a shipment found to contain illegal drugs at the Manila International Container Port (MICP). On Thursday, July 17, Customs Commissioner Ariel Nepomuceno led the inspection of the shipment, which was seized following an inspection which uncovered 110.24 kilograms of methamphetamine hydrochloride or shabu concealed within four boxes, with an estimated value of P749.63 million. Samples from the shipment in question were submitted to the Philippine Drug Enforcement Agency (PDEA) for confirmatory testing, which later confirmed that the recovered substances were indeed methamphetamine hydrochloride. The BOC said the seized shipment will be turned over to the PDEA for further investigation in relation to violations of Republic Act (RA) No. 9165, or the Comprehensive Dangerous Drugs Act of 2002, and R.A. No. 10863, or the Customs Modernization and Tariff Act. For his part, MICP District Collector Rizalino Jose Torralba cited cooperation among the agency's enforcement units, noting that the operation reflected the effectiveness of strengthened profiling measures and inter-agency coordination. Nepomuceno, likewise, said the Customs will remain unyielding in its campaign against drug smuggling. 'We will not allow criminal elements to exploit balikbayan privileges and tarnish the trust of our overseas Filipinos. This seizure underscores our commitment to protecting the country and its people,' said Nepomuceno. —VAL, GMA Integrated News
Filipino Times
14-07-2025
- Filipino Times
Senior citizen carrying undeclared P1.2 million cash intercepted at NAIA
A 61-year-old Filipina bound for Hong Kong was intercepted at NAIA Terminal 3 after authorities found PHP 1.2 million in undeclared cash hidden in her luggage. She was flagged during routine X-ray screening after airport personnel spotted an image resembling bundles of cash inside her trolley bag. Airport authorities, in coordination with the Bureau of Customs (BOC) and the PNP Aviation Security Group (AVSEGROUP), conducted a manual inspection that led to the discovery of the concealed money. In line with international anti-money laundering agreements, the Bangko Sentral ng Pilipinas (BSP) limits travelers from bringing in or out of the Philippines more than PHP 50,000 in Philippine currency—whether physically or electronically—without prior written authorization, and any excess without approval may be confiscated by the BOC. The passenger and the seized cash are now under the custody of the BOC for serial number identification and further investigation.
