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Afren Shares Slump, “Unauthorised Payments” Investigated Kurdish Oil Tanks Full in Turkey Teeling Updates on Petrel Resources Online Survey: State of Iraq 2014
 
Afren Shares Slump, “Unauthorised Payments” Investigated

Afren Shares Slump, “Unauthorised Payments” Investigated

By John Lee. Shares in Afren plc have fallen by more than 30 percent on the London Stock Exchange on Thursday, following the announcement that the Board has temporarily suspended the CEO, Osman Shahenshah (pictured) and the COO, Shahid Ullah, pending the investigation of alleged “unauthorised payments”. The company has operations at the Barda Rash,  […]

Kurdish Oil Tanks Full in Turkey

Kurdish Oil Tanks Full in Turkey

By Patrick M Schmidt. For over a week, the oil pipeline from Kurdistan to Turkish port facilities has been shut off. Government officials have stated that all the available storage tanks are full of Kurdish oil and remain in holding for when shipment continues. “The flow has stopped. It’s been around a week. The tanks […]

Teeling Updates on Petrel Resources

Teeling Updates on Petrel Resources

By John Lee. As part of his statement to the AGM of Petrel Resources, Executive Chairman John Teeling made the following comment on the company’s operations in Iraq: “Petrel has a 5% full free carry on the interests held by Oryx in the Wasit province of Iraq. “This is held via a 20% shareholding in […]

Online Survey: State of Iraq 2014

Online Survey: State of Iraq 2014

It’s a well-known fact that Iraq Business News has the best-informed and most influential readers – you! Now we want to hear your opinions about the current state of the country: How easy is it to do business? How is the security situation affecting you? And who do you think will lead it for the […]

US Contractor Extradition from Iraq

US Contractor Extradition from Iraq

29 July 2014

By John Lee. A former contractor has been extradited from Iraq after six years on the run, making him the first person to be returned to the United States under the U.S.-Iraq extradition treaty of 1936. Metin Atilan, 54, who has dual U.S. and Turkish citizenship, pleaded not guilty to fraud...

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Does President hold any Real Power?

Does President hold any Real Power?

29 July 2014

By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The position of president in Iraq has always been described as an honorific one without privileges, which does not allow its occupant to affect the...

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Tanker Cleared to Offload Kurdish Oil

Tanker Cleared to Offload Kurdish Oil

28 July 2014

By Patrick M Schmidt. On Sunday, the United States Coast Guard granted permission for the Kurdish oil tanker, United Kalavrvta, to offload its payload of crude oil from Kurdistan Regional Government (KRG) controlled oilfields in northern Iraq. The State Department further indicated that they...

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Baiji Oil Refinery Comes Under Attack

Baiji Oil Refinery Comes Under Attack

28 July 2014

By Patrick M Schmidt. On Saturday, Iraqi security forces reported that ISIS militants had taken control of a portion of the Baiji [Bayji, Beiji] oil refinery. Since then, security forces have driven the militants off of the oil refinery’s premises and are now searching the area for any...

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Iraq Stock Market Report

Iraq Stock Market Report

28 July 2014

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 24th July 2014). Note: ISX will be closed starting from July 27, 2014 to July 31, 2014 due to the national holiday of Eid Al-Fitr. The next session will be held on Sunday, August 3, 2014. Please click...

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Emirates to Reroute Flights

Emirates to Reroute Flights

28 July 2014

By Patrick M Schmidt. Sir Tim Clark, Chief Executive of Emirates Airlines, has announced that the airline would no longer allow its own aircraft to fly over Iraq. This statement comes as a reaction to the missile strike on Malaysian Airlines MH-17 and concerns about ISIS militants in the north...

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Audio: Kurdistan – a State of Uncertainty

Audio: Kurdistan – a State of Uncertainty

28 July 2014

From the BBC. John McCarthy meets the Kurds of northern Iraq, a unique island of stability in a nation broken into warring fragments. He asks how a people who have been victims of abuse and atrocity for generations managed to transform their fortunes so dramatically. How did they recently...

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Another $1.2bn Compensation Paid to Kuwait

Another $1.2bn Compensation Paid to Kuwait

27 July 2014

The United Nations Compensation Commission (UNCC), which settles the damage claims of those who suffered losses due to Iraq’s 1990 invasion of Kuwait, today made $1.19 billion (1.4 trillion Iraqi dinars) available to the Government of Kuwait. With today’s payment, the Commission has disbursed...

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Could Law 21 Save Iraq?

Could Law 21 Save Iraq?

27 July 2014

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Giving Provinces More Power: Could Law 21 Save Iraq? How can a country like Iraq – with its different sects, religions and ethnicities...

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Iran Dominates Market after Occupation of Mosul

Iran Dominates Market after Occupation of Mosul

27 July 2014

By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After the occupation of the Iraqi town of Mosul by armed groups, including the Islamic State (IS) and the Baath Party — banned by the Iraqi...

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Why Islamic State is no al-Qaeda Clone

Why Islamic State is no al-Qaeda Clone

27 July 2014

By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. With the public appearance in Mosul of Ibrahim Awwad Ibrahim Ali al-Badri al-Samarrai, known as Abu Bakr al-Baghdadi, and his self-proclamation as...

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Economic Prospects for Erbil Look Bright

Economic Prospects for Erbil Look Bright

26 July 2014

By Patrick M Schmidt. While the security situation in some parts of Iraq remains in flux, the north region of Kurdistan continues to attract foreign businesses as a promising location for investment. With a 12 percent growth in Gross Domestic Product (GDP) in 2012 and another 8 percent growth...

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Shahristani Receives the Gereman Ambassador

Shahristani Receives the Gereman Ambassador

26 July 2014

Acting Minister of Foreign Affairs Dr. Hussain al-Shahristani received on July 22, 2014 a copy of the credentials of the Ambassador of the Federal Republic of Germany's new ambassador to the Republic of Iraq, Mr. Eghard Boroza during the ceremony took place in the office of the ministry. The...

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ISIS “Greater Threat” to West than al-Qaeda

ISIS “Greater Threat” to West than al-Qaeda

26 July 2014

By Daniella Peled. This article was originally published by the Institute for War and Peace Reporting, iwpr.net, and it is reproduced by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News The...

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Peshmerga to ‘Fill in’ for Iraqi Army

Peshmerga to ‘Fill in’ for Iraqi Army

26 July 2014

By Shaida al-Ameen for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Kurdistan’s Ministry of Peshmerga Affairs said its troops are not attacking armed groups in Iraq, but are just taking defensive positions. It...

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Echoes of Apocalypse in Iraq Conflict

Echoes of Apocalypse in Iraq Conflict

26 July 2014

By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. When George W. Bush invaded Iraq, he was criticized, including for being motivated by eschatology (the aspect of theology that deals with the end of...

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