Tag Archives | featured

Iraqi Forces Capture North Oil Company

By John Lee. Iraqi armed forces have reportedly captured the headquarters for the North Oil Company (NOC), northwest of Kirkuk, from Kurdish forces, without fighting. A Kirkuk-based official told Reuters that the Baghdad’s forces had also taken control of the K1 airbase and were deploying in the Baba Gurgur field and the North Oil refinery. […]

DNO: First Payment under Kurdistan Receivables Settlement

DNO ASA, the Norwegian oil and gas operator, today reported the first payment from the Kurdistan Regional Government under the recently concluded agreement covering outstanding receivables for past crude oil deliveries. Under the agreement effective 1 August 2017, the Company was assigned the Government’s 20 percent interest in the Tawke license as well as three […]

Federal Forces Advance on Kirkuk City

Iraqi Security Forces (ISF), Counterterrorism Services (CTS), Federal Police (FP), and Popular Mobilization Units (PMU) launched a combined offensive with intent to seize the K1 military base, Kirkuk airport, and Kirkuk’s oilfields at around 0200hrs (local) on October 16. The offensive followed two days of failed negotiations after the government of Iraq demanded Kurdish forces […]

IBBC Delegation meets Basrah Governor

On Thursday 12th October a delegation of IBBC Members, led by Baroness Nicholson, Honorary President, met with H. E. Mr Asaad A., the recently appointed Governor of Basrah. The meeting took place in the Governor’s office, included a Lunch and lasted until the early evening. The Governor presented his plans for Basrah and asked the […]

Iran Reported to have Shut Crossing with Kurdish Region

Iran reported to have shut crossing with Kurdish region; subsequently denied by Iran Reports on October 15 claimed that the Iranian authorities shut a main border crossing with the Kurdish region amid increased tensions. Ali Tawfiq, director of the terminal in Sulaimaniyah province reported that the main border crossing at Bashmaq had been closed by […]

GardaWorld Weekly Security Report

GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]

Iraq Stock Market Report

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th Oct 2017). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD778 (+2.5%) / $795 (+2.1%) (weekly change) (-19.0% and -16.1% YTD change, respectively). The number of week traded […]

OMV Pockets $107m from KRG Settlement

By John Lee. Austria’s OMV has said its third-quarter clean operating result “was positively impacted” by about 90 million euro ($107 million) following a settlement over a dispute relating to the Khor Mor and Chemchemal fields in Iraqi Kurdistan. On August 30, 2017, the Kurdistan Regional Government (KRG) and Dana Gas , Crescent Petroleum and […]

Genel Energy gets New COO

Genel Energy has announced that Paul Schofield is stepping down from the role of Chief Operating Officer and will leave the Company on 16 October 2017. Dr. William (Bill) Higgs will succeed him in the role and will join the Company on 6 November 2017. Dr. Higgs has nearly 30 years of global exploration, development […]

EU Steps Up Assistance for Stabilisation of Iraq

The European Commission has adopted a €60.4 million stabilisation package to support Iraq after the liberation of areas held by Da’esh, with the country still facing humanitarian, security, stabilisation and reconciliation challenges. This new funding comes in addition to EU humanitarian aid in the country and other forms of financial assistance that now total €608.4 […]

Military Strikes Continue Against ISIS Terrorists

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Wednesday, conducting 31 strikes consisting of 39 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, […]

Agility Center of Excellence Opens in Rumaila

Agility has opened a state-of the-art training facility, known as the Center of Excellence, at the Rumaila Energy Park in southern Iraq. In partnership with Strategic Analytics Team (SAT), the Center of Excellence offers training courses for the local workforce in the oil and gas industry, led by internationally accredited trainers. Training covers a wide […]