Iraq’s Financial Problems “Cyclical”

At the Iraq Britain Business Council (IBBC)‘s Spring Conference in London last week, there was a general feeling that the downturn in oil prices is temporary, and that Iraq’s finances will rebound in due course. Referring to the long-term trend in oil prices, Vikas Handa of Weir Group was adamant that “there is only one […]

DNO Shares Jump as it steps up Kurdistan Activity

By John Lee. Shares in DNO, the Norwegian oil and gas operator, closed up more than 10 percent on Wednesday as the company announced the startup of an active drilling program at its flagship Tawke field in the Kurdistan region of Iraq. The company said it will boost investments on the back of seven consecutive […]

India to Open Consulate in Erbil

By John Lee. Indian Ambassador to Iraq, Mr. George Raju yesterday visited the KRG Department of Foreign Relations to discuss the opening of Indian consulate general in Erbil. Ambassador Raju announced the decision of the government of India to open its consulate general in Erbil, capital of Kurdistan Region. He said that India realizes the […]

UK Company Sponsors Ur Archaeological Project

By John Lee. Kirintec, a UK-based supplier of tactical equipment for anti-terror solutions in the security and defence industry, has announced that it is sponsoring the Ur Region Archaeological Project in Iraq, led by Dr Jane Moon. Founder and Managing Director Roy Peers-Smith commented: “We feel privileged to share the story so far and wait […]

Counter-ISIL Strikes Hit Terrorists in Iraq

U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq on Tuesday, Combined Joint Task Force Operation Inherent Resolve officials reported on Wednesday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Iraq Ground-attack, fighter, bomber, and remotely […]

Dana Gas Kurdistan Production Falls

In its Q1 Financial Report, Dana Gas reports that its production has fallen 16 percent in Iraqi Kurdistan: KURDISTAN REGION OF IRAQ – RESERVES UPDATE As reported previously Dana Gas and Crescent Petroleum, joint operators of Pearl Petroleum Company Limited (“PPCL”), estimate that P50 total geologically risked resources of petroleum initially in-place (PIIP) of the […]

Iraq, Syria weigh on Imperial Tobacco

By John Lee. Imperial Brands, formerly Imperial Tobacco Group, stated on Wednesday that “ongoing instability [in Iraq and Syria] continued to impact performance, particularly of Gauloises and Gitanes” cigarette brands. In its half-year results to the end of March, the company said that Iraq and Syris now represent less than 3 percent of total Group […]

Explosions hit Two Oil Wells in Kirkuk

By John Lee. Explosions have been reported at two oil wells near territory controlled by the Islamic State group (IS, ISIS, ISIL, Daesh) in northern Iraq on Wednesday. Production was halted at the Khabbaz oilfield, 20 km (12 miles) southwest of Kirkuk, in a region under control of the Kurdish peshmerga forces, according to Reuters. […]

UN Advertises Jobs in Iraq

By John Lee. The United Nations has advertised several new positions in Iraq: National Consultant: Employment Opportunity Assessment (UNDP); Field Security Assistant (UNDP); Programme and Operations Officer (UNDP); CAP Secretary (UNDP); Security Associate (World Food Programme, WFP); (Source: UN) (Recruitment image via Shutterstock)

Coalition Continue Strikes Against ISIL in Syria, Iraq

U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq on Monday, Combined Joint Task Force Operation Inherent Resolve officials reported on Tuesday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria Fighter and remotely […]

Currency Auction Results, 4th May

By John Lee. The Central Bank of Iraq (CBI) has reported that 31 banks and 22 remittance companies took part in its currency auction on Wednesday. A total of $109,224,885 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)