Gulf Keystone Petroleum: Half-Year Report

Gulf Keystone Petroleum (GKP) has announced its results for the six months ended 30 June 2016. Operational highlights Security situation and HSSE performance All operations in the Kurdistan Region of Iraq remain safe and secure with no significant HSSE incidents during the period Production and sales Strong production performance resulted in gross production of 6.0 […]

Latest Counter-ISIL Strikes in Syria, Iraq

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

Video: Military Commemorates Iran-Iraq War Anniversary

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iran has been holding nationwide parades to commemorate the anniversary of the 1980 war with Iraq. Every year, the event is used to highlight the latest advances in military technology. Al Jazeera‘s Reza […]

Finance Minister Zebari Sacked

By John Lee. Iraq’s finance minister, Hoshyar Zebari (pictured), has been voted out of office by the country’s parliament on Wednesday. Lawmakers voted 158 to 77 against Zebari, after a parliamentary inquiry last month into charges of corruption and mismanagement of public funds. Zebari, a senior Kurdish official who previously served as foreign minister, denies all […]

Diwaniya New Refinery: Another Dubious Proposal?

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Two recent statements from a non-oil producing province proposing a new oil refinery in the province, to be financed by private investor(s), were reported by local media. No reference was found to […]

Oil Minister Welcomes UK Companies

By John Lee. On Tuesday, Iraqi oil minister Jabbar al-Luaibi [Allibi] met the envoy of the British Prime Minister, Baroness Emma Nicholson, who was leading a delegation from the Iraq British Business Council (IBBC). The two parties discussed cooperation and the development of the oil and gas industry in Iraq. Mr. Allibi said the Ministry […]

Aug Oil Output Revised Down, Still at Record Levels

By John Lee. Iraq’s oil production in August has been revised down from 4.638 million bpd to 4.622 million bpd, according to a report from Platts. The latest estimate is still a 16,000 bpd increase from July, and is the fourth time Iraq has passed the 4.5 million bpd threshold. The State Oil Marketing Organization […]

PKK “planning to Sell Oil trough Iran”

By John Lee. BasNews reports that the Kurdistan Workers’ Party (PKK) is planning to extract crude oil in the border areas it controls in the Kurdistan Region and transport it to Iran by truck. According to some local sources, a PKK team is building a new 5-km road across the border areas of Kurdistan Region […]

Canadian Firm wins Contract for Night Vision Equipment

By John Lee. Canada’s Newcon Optik has won a contract for “the provision of night vision monocular with training and maintenance package” in Iraq. The contract was awarded by the United Nations Office for Project Services (UNOPS), and is valued at $834,058. (Source: UNGM)

Currency Auction Results, 19th Sept

By John Lee. The Central Bank of Iraq (CBI) has reported that 33 banks and 15 remittance companies took part in its currency auction on Tuesday. A total of $132,094,314 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)

Abadi announces Operation to Retake Shirqat

By John Lee. Iraqi Prime Minister Haider al-Abadi announced the launching of a military operation to retake Shirqat from the Islamic State group (IS, ISIS, ISIL, Daesh) on Tuesday. The town, on the banks of the Tigris River, 100 km (60 miles) south of Mosul, is thought to contain tens of thousands of civilians. Abadi […]

Video: Liberation of Mosul could come quickly – Obama

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. President Barack Obama says that US-backed Iraqi troops could be in a position “fairly rapidly” to liberate the northern city of Mosul from the Islamic State group: