Tag Archives | Abu Dhabi

WesternZagros Secures Investment, Shares Surge

WesternZagros Resources has announced a strategic investment agreement with the Abu Dhabi National Energy Company PJSC (“TAQA“). The company’s shares have risen 23% since Friday’s close. Under the Agreement, TAQA will purchase, through a private placement, 74 million common shares in the Company at C$0.63 per share for gross proceeds of C$46,620,000. When this private […]

Invest AD Iraq Fund up 27%

The head of Invest AD, the Abu Dhabi-based investment firm, sees growth in Iraq and Qatar. Gulf News reports that performance by the firm’s Iraq fund has been particularly strong. “This year, with political change in the Middle East, performance has been varied, with a large dispersion of returns across the region,” executive director Mohammad […]

Etihad to Increase Services to Erbil

Etihad Airways, the national airline of the United Arab Emirates, will double its flights from Abu Dhabi to Erbil at the beginning of September. The current twice-weekly service will increase to four services per week, complementing Etihad’s daily operation to its other Iraqi destination, Baghdad. Etihad commenced two-class Airbus A320 operations to Erbil in June […]

Basra Backs UAE Refinery Bid

A bid from an Emirati company to invest in one of Basra’s oil refineries to boost domestic production has won the support of the Basra Investment Commission. Haider Ali Fadel, chairman of the Commission, told AKnews on Monday that the Bin Khalid Group’s bid to increase the refinery’s production capacity to around 300,000 barrels per […]

Heritage Oil Shares Holding Firm on Rumours

Heritage Oil has held the 10% gain in its share price, following the report in the Thursday’s  Financial Times that the company had received a informal takeover offer from an un-named Abu Dhabi-based company. The company has not commented on these latest rumours, and is understood to have rejected the offer, which would value the […]

Invest AD Eyes Iraqi Companies

“Iraq is … getting back on track and it’s a country that cannot be allowed not to succeed.” So said a top executive at Abu Dhabi-owned asset management firm Invest AD said on Monday. Speaking at the Reuters Middle East Investment Summit, Mohammed al Hashemi said Invest AD was still putting its Iraqi portfolio together, […]

New Iraq Equities Fund to Tap Growth

Abu Dhabi’s Invest AD has launched an Iraq Investment Fund to channel investment into high-growth companies in a country where improving stability and increased oil production should fuel strong economic expansion in coming years. Invest AD is seeding the fund and is marketing it alongside its other equities and private equity funds that invest in […]

$66bn New Projects from Abu Dhabi Developers

Dr Sami al Araji, the chairman of Iraq’s National Investment Commission, has said that Abu Dhabi-based developers have closed deals worth $66bn [79 trillion Iraqi dinars] for housing projects in Iraq. The companies involved are Bloom Properties and Al Maabar. Bloom Properties’ projects include a $30bn development in Karbala, and $15bn to provide 300,000 dwellings […]

Abu Dhabi Lowers Crude Prices

Abu Dhabi National Oil Co., the state-owned producer, cut February prices on all its crude grades by about 4 percent after Persian Gulf suppliers including Saudi Arabia, Iraq and Iran lowered rates for buyers in Asia, according to Bloomberg. The price for Murban crude, its largest export grade, was lowered to $74.20 a barrel.Upper Zakum […]