Genel Energy Receives Full Payment for June

Genel Energy has announced that the Taq Taq field partners have received a gross payment of $24.91 million from the Kurdistan Regional Government for oil sales during June 2016. Genel’s net share of the payment is $13.70 million. The payment reflects full settlement of the invoiced amount for June 2016 oil sales, and incorporates $20.82 […]

Five New Wells Completed at Halfaya

By John Lee. Iraq’s Ministry of Oil has announced the completion of five new oil wells at the Halfaya oil field. Mr. Adnan N. Sajit, the director general of the Maysan Oil Company (MOC), said the drilling was done by two Chinese companies contracted by Petrochina, the main operator of the field. Production at Halfaya […]

KRG PM: Education is Key to Success and Progress

Kurdistan Regional Government Prime Minister Nechirvan Barzani says education is the key to success and progress in Kurdistan. Prime Minister Barzani says, development and prosperity are achieved through the advancement of Kurdistan’s education system. Mr. Barzani made the statement during a special ceremony held on Tuesday in Erbil to honor top students for 2015-2016 academic […]

Strikes Target ISIL Terrorists 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 n Tuesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, ground […]

Currency Auction Results, 27th July

By John Lee. The Central Bank of Iraq (CBI) has reported that 30 banks and 17 remittance companies took part in its currency auction on Wednesday. A total of $154,161,114 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)

Over $2bn in New Money for People of Iraq

Statement by the Co-Hosts Canada, Germany, Japan, Kuwait, The Netherlands, and the United States at the July 20 Pledging Conference in Support of Iraq Over $2 billion in new money has been pledged for the people of Iraq in response to Da’esh’s campaign of tyranny that has resulted in enormous suffering, deprivation, and devastation for […]

10th Production Well Commissioned at Badra Oil Field

Russia’s Gazprom Neft has commissioned its 10th production well (P-07) at the Badra oil field. Together with the other wells at the field, the P-07 well is in free-flow production. With production volumes at the newly launched well now at 6,527 barrels per day, its commissioning has allowed daily production levels at the field to […]

IBBC Welcomes Marubeni-Itochu Steel

Japan’s Marubeni-Itochu Steel has joined the Iraq Britain Business Council (IBBC). The company is a joint venture between Marubeni Corporation and Itochu Corporation, established in October 2010 when the two companies merged their respective steel divisions. Its Tubular Products Division, which operates under the name Marubeni-Itochu Tubulars, supplies tubular products for the energy sector; its […]

Coalition Strikes Target ISIL in Iraq, Syria

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

Currency Auction Results, 25th July

By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 17 remittance companies took part in its currency auction on Monday. A total of $154,804,895 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)

Iraq considers Belarusian Universal Commodity Exchange (BUCE)

The Belarusian Universal Commodity Exchange (BUCE) recently held a meeting with a delegation from the Iraqi Businessmen Association (IBA). In the course of the talks, the representatives of Iraq’s production and trading companies learnt about BUCE main activities and principles as well as the advantages of leveraging the exchange mechanism to boost Belarus-Iraq bilateral trade. […]