Tag Archives | Kuwait

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

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). […]

Zain Iraq Revenues Fall 11%

By John Lee. Kuwait-based telecommunications group Zain has said that revenues at its Iraqi unit fell by 11 percent in 2016. In its full-year results, the company blamed “exceptional circumstances” with revenues for the full-year reaching USD 1.1 billion, and EBITDA reaching USD 394 million, down 18 percent, with a net loss of USD 5 […]

Dyncorp in $31m Aviation Deal

By John Lee. Dyncorp International LLC has been awarded a $30,790,391 modification (P00148) to foreign military sales contract (Afghanistan, Iraq, Kuwait) W58RGZ-13-C-0040 to exercise option year three of a regional management fee for aviation field maintenance services in support of the Army Aviation and Missile Command, Aviation Field Maintenance Division outside the continental U.S. operations. […]