Tag Archives | Kuwait

The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News

Iranian Universities enter Iraq

By Zep Kalb for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. In the aftermath of the US-led invasion of Iraq in 2003, the country’s educational system all but collapsed. Illiteracy rates have exploded. Universities have turned into sectarian battlegrounds. Systemic violence — including beatings, rape and […]

Iraq to send Gas to Kuwait for Gulf War Compensation

By John Lee. Kuwait’s Oil Minister, Essam Al-Marzouq, has said his government has agreed to receive natural gas from Iraq in part payment of it Gulf War reparations. According to a report from BasNews, Iraq will initially send 50 million cubic meters of natural gas (per day?), later increasing to 200 million cubic meters; KUNA […]

Kuwait Energy plans New Wells in Iraq

By John Lee. Kuwait Energy has said that by focusing on its Iraqi operations, it is protected against oil price fluctuations, allowing it to sustain growth and a strong balance sheet even under volatile market conditions. In its Financial Statement for 1st Half 2017, the company says: “Our finances reflect the continued growth in the […]

Wataniya Airways to serve Najaf

By John Lee. Kuwait’s Wataniya Airways is to commence return flights to Najaf from 23rd August. According to ArabianBusiness, the route will be served by a newly-delivered Airbus A320. The airline was recently granted a licence to operate at Kuwait International Airport, following a six-year break from business due to financial difficulties. (Source: ArabianBusiness)

New Oil Exploration Blocks Announced

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi] (pictured) has announced exploration and rehabilitation projects for nine exploration blocks in Iraq. These include the onshore exploration blocks of Khudher Al-Mai, Jebel Sanam (Jabal Sanam) and Umm-Qasr on the Kuwaiti border; the Sindbad, Huwaiza, Shihabi, Zurbatia and Naft Khana blocks on the Iranian border; and […]

Agility pays $95m to settle US Civil Case

Agility Public Warehousing Co. KSC (Agility), a Kuwaiti company, has agreed to globally resolve criminal, civil, and administrative cases arising from allegations that Agility overcharged the United States when performing contracts with the Department of Defense (DOD) to supply food for U.S. troops from 2003 through 2010. As part of the global resolution, Agility has […]

Kuwait signs $100m Grant for Iraqi Reconstruction

Kuwait has approved a $100 million grant for Iraq to support humanitarian and reconstruction projects in areas retaken from IS, according to a statement from Iraq’s Reconstruction Fund chief Mustafa Al-Hiti. The grant is the first Kuwaiti financial assistance to Iraq since Iraq’s occupation of Kuwait in 1990/1991 under then-President Saddam Hussein. Officials from the […]

Iraq to supply Kuwait with Gas soon

Oil Minister Jabar Ali al-Luaibi [Allibi] has stated that his country will soon complete a project for supplying gas to Kuwait in line with an earlier agreement hammered out between both sides. The minister made the remark during the third Iraq Energy Forum held in Baghdad, lauding good cooperative relations between Iraq and Kuwait. “Iraq […]

Zain Group names new CEO

By John Lee. At its annual Ordinary General Assembly in Kuwait on Monday, Zain Group appointed a new Board of Directors for the coming three years. Scott Gegenheimer, who has served as CEO for four-and-a-half years, has been moved to the new role of CEO of Operations, while Bader Al-Kharafi (pictured) becomes Vice-Chairman and CEO. […]

Faihaa-3 commences Oil Production

Kuwait Energy has announced the commencement of oil production from the Faihaa-3 well located in the Block 9 concession situated in the Basra Governorate. The Faihaa-3 well started commercial production on 12 February 2017 at 40/64 inch choke size and has stabilized at a gross daily rate of 5,200 barrels of oil per day (bopd). […]