DNO Shares Rise on Record Results
Shares in DNO International, the Norwegian oil and gas company with operations in Iraqi Kurdistan, were up 8% in early trading on Monday following the release of record results for the first quarter of 2012. Operating revenues were NOK 712 million up from NOK 281 million in the first quarter of 2011. Net profit climbed [...]
Iraq to Increase Crude Exports for 2nd Half May
Bloomberg reports that Iraq will increase its exports of Basrah Light crude from the Persian Gulf by 20 percent in the second half of May, compared to a month earlier. According to the loading program, Iraq will ship 26 cargoes from the al-Basrah Oil Terminal (ABOT) (pictured), seven more than a month earlier. Exports will [...]
UAE’s Construction Tech Wins $47m Deals in Iraq
Construction Tech, part of the UAE-based Tech Group, has won two significant deals in Iraq totaling over $47 million, according to a report from Trade Arabia. The bigger of the contracts is a $45 million deal to revamp the Central Bank of Iraq, while there is also a $2.15 million agreement with Shell to support [...]
Iraqi-American Sentenced for Illegal Currency Transactions
A well-known businessman and cultural leader from Columbia, Missouri, has been sentenced to three years in federal prison for illegally siphoning more than $200,000 to Iraq during sanctions between 1991 and 2003. Shakir Hamoodi, an Iraqi-American store owner and former nuclear scientist with the University of Missouri, pleaded guilty in December 2009 to violating federal sanctions [...]