Oil Companies in Iraq too Ambitious

An Iraqi oil industry veteran, Dr Thamir Al Uqaili, says there is a general belief that the production plateau targets (PPTs) of the international oil companies who have won contracts in Iraq are too ambitious and that export will face a marketing problem. The exploration of Iraq’s rich oil and gas fields will be under […]

Turkey’s Vakifbank to Open Branch in Erbil

Turkish bank Vakifbank will open a branch in the northern Iraq Kurdish city of Erbil by the end of this year, according to Turkish newspaper Hurriyet Daily on Friday. “We have submitted an application to the central Iraqi government to open a new branch of the bank in Erbil,” Suleyman Kalkan, Director General of the […]

International oil companies: Overcoming Iraq’s uncertainty

By Tariq Abdell, Founder & Chairman, Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. Operation New Dawn, ensuing the U.S. perspicacious plans to end combat operations in Iraq Aug. 31, underlines the U.S. commitment to a torn country that is in […]

JOBS IN IRAQ – Our New Free Service Starts Today!

We launch our new Jobs in Iraq page today on the IBN web site in response to reader demand. This is a free reciprocal service for Recruitment Agencies and Employers with jobs on offer in Iraq. For readers it provides a welcome source of employment options in a country crying out for skilled labour and […]

Weekly Security Update for 19th August 2010

National Overview This reporting period saw the levels of incidents rise by approximately 20% compared to the previous week. There was a significant rise in the number of recorded incidents in the North, North Central and Western Regions of Iraq, with the rest of the country experiencing no real change or slight reductions in the […]

Moving Into The Economic Recovery

It has been a busy week politically in Iraq, with both good and bad news emerging from the country: The last American combat brigade left the country on Thursday morning, seven years after the US-led invasion; 6,000 support troops will remain until the end of the month, and a further 50,000 will stay until the […]

Oil Contracts Legal Challenge Dismissed

We recently reported on a constitutional challenge to Iraq’s oilfield development contracts, which was being pursued by a former member of parliament – you can find our article here, with additional legal opinion here. The challenge centered on the Rumaila contract, signed with BP and CNPC in 2009, as a test case. According to Iraq […]

Basra Oil Exports Recover

Reuters reports that oil exports from Iraq’s Basra terminal recovered  to 1.56 million barrels on Tuesday, after dropping to 720,000 barrels on Monday due to pipeline repairs. “The flow rate from Basra port is recovering after they finished repairs on some parts of the export pipeline yesterday evening,” a shipping source claimed. The shipper said […]

Iraqi Force Tracks Down ‘Pirates’

An Iraqi navy has tracked down the thieves who hijacked a number of ships near Iraq’s oil ports in Basra, a news report from Aswat al-Iraq quotes an Iraqi Web site. “We cannot describe these thieves as pirates, they are just thieves,” said an Iraqi source. He described such incidents as one-off events committed by […]

Syndication Deals Boost for IWPR Reports

Two new syndication deals with Iraqi news agencies have boosted the impact of the Institute for War and Peace Reporting (IWPR) Iraq’s work across the country. Growing republication of IWPR’s acclaimed Iraqi Crisis Reports, ICRs, which editors and readers say provide impartial stories in a media landscape tainted by bias, are further evidence of the […]

Sales and Cash-Flow Up at DNO

Sales and cash-flow were up at Norwegian oil producer DNO in the second quarter of 2010, but its shares are down 0.8% this morning on the Norwegian bourse. The company, which has significant operations in Iraqi Kurdistan, issued the following statement: DNO International ASA achieved an EBITDA of NOK 171 million [$27.8m] from total sales […]