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Technology and Manufacturing firm Honeywell has announced the opening of a full-service office in Baghdad. Other offices are being planned for southern and northern Iraq.

Austrian high-precision oilfield components manufacturer Schoeller- Bleckmann Oilfield Equipment announced it has bought Dubai-based Drilling Systems International (DSI).

Oil trading companies are dramatically expanding their footprint in Dubai, opening new offices or increasing staff numbers as they attempt to capitalize on the growing refining activity and new products being developed in the Gulf Arab region.

Iraq will need to build some 7,000 km of new pipeline if it is to meet its target of exporting more than 10 Mbpd by 2017, according to David Stanley, Chief Executive of the Penspen Group.

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