Archive | 23rd March 2012

Gulf Keystone Boss Pockets $20m

Todd Kozel (pictured), CEO of Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) will receive a $20 million pay package, making him one of the UK’s highest paid executives. According to Reuters, his earnings doubled in 2011 to at least 12.8 million pounds ($20 million), 11 million of which is in share awards plus a cash […]

Gulftainer Appoints New Commercial Director

Gulftainer, the largest privately owned port operator in the world based in Sharjah, has recently appointed Jay New as its new Commercial Director. Jay will be based in the Sharjah headquarters, overseeing and progressing the company’s commercial operations in the region and worldwide. Jay has worked in the ports, shipping and logistics field for over […]

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Iraq in Talks over Highway to Turkey and Syria

The Iraqi government has agreed to hold talks with China’s Poly Technologies on a plan to build a highway linking the country with Turkey and Syria, according to a report from Bloomberg Businessweek. Iraq’s minister of construction and housing will discuss the design of the project with Denmark’s COWI Holding A/S, said government spokesman Ali […]

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Iraq Stock Market Report

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 22nd March 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,336 / $1,466,  +0.9% (weekly change). The number of week traded shares was 14.6 bn and the weekly trading volume was ID27.2bn ($23.0mn).   ISX […]

Iraq Still Considering Exxon Bidding Ban

The Iraqi oil ministry is said to be still considering whether to allow Exxon Mobil to bid in the country’s 4th energy licensing auction, lifting a ban that was imposed because of the deal it struck with the Kurdistan Regional Government (KRG). “We are going to discuss this matter in the ministry and, God willing, […]

Basra’s Unfair Share: Wealthy in Oil, Poor in Every Other Way

The citizens and authorities in what is potentially Iraq’s wealthiest oil boom town are upset. They say oil companies are causing environmental problems and Baghdad is getting rich while they’re missing out, according to this article from NIQASH. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq […]

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Separatism and Sectarianism in Barzani Speech

The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]

Iraq Denies Tech Fault in New Oil Terminal, Blames Weather

Iraq said on Thursday that weather, rather than a technical fault, was behind an interruption in the operation of the new single point mooring (SPM) terminal on the Persian Gulf. The new facility loaded 2 million barrels of oil into its first ship, the Maersk Hirado, between 8th March and 13th March, but has not […]