Tag Archives | United Arab Emirates (UAE)

US Treasury Sanctions Iraq-based Money Services Business

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions today on Afaq Dubai, an Iraq-based money services business (MSB) that has been moving money for the Islamic State of Iraq and Syria (ISIS). Today’s designation follows action taken by the Department of Defense—announced on October 11—against a key ISIS financial […]

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Air Arabia launches fourth Iraqi Destination

Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), has announced the launch of non-stop service to the city of Sulaymaniyah in the north of Iraq. The new service from the carrier’s primary hub in Sharjah marks Air Arabia’s fourth destination in Iraq and 152 worldwide. From November 6, 2018, […]

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Trade Bank in talks to Buy a Gulf Lender

By John Lee. The state-owned Trade Bank of Iraq (TBI) is reported to be in talks to buy a Gulf bank with branches in the United Arab Emirates (UAE) and Qatar. Chairman Faisal al-Haimus told Reuters that talks are underway and the purchase is expected to be completed in six to eight months. The name […]

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Iraq signs Air Transport MoU with UAE

The Iraqi Civil Aviation Authority (ICAA) has signed a Memorandum of Understanding with its UAE counterpart. According to a statement from Iraq’s General Establishment of Civil Aviation (GECA), the MoU will guarantee all operational and technical matters related to the field of air transport. The Director General of the Iraqi Civil Aviation Authority, Mr. Ali […]

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Crescent Petroleum, Dana Gas support AMAR IDP Clinics

Crescent Petroleum and Dana Gas deliver vital support to AMAR IDP clinics As Iraq’s security conditions have improved, international donors have turned their attention to other troubled parts of the world, leaving many IDP camps in the country on the brink of closure. Thanks to the continued support of Crescent Petroleum and Dana Gas, however, […]

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Dana Gas gets $44m from KRG in 1H

By John Lee. Dana Gas has said it has received $43.8 million in dividends from Pearl Petroleum Company Limited for condensate and LPG sales in the Kurdistan Region of Iraq (KRI) in the first half of 2018, including a $7 million payment for the month of June. The company added that the capacity to process […]

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A Roadmap to Drive the Iraqi Economy Forward

By Sadek Ali. Resounding Victory At the height of its reach, Daesh occupied almost 40% of Iraq’s territory. A tragedy for the communities they enslaved and also for Iraq’s economy: the area occupeid produced 80 thousand barrels of crude oil in 2014. The December 2017 liberation of Iraq was therefore a significant release for both […]

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Ducorr completes Corrosion Protection work at Majnoon

By John Lee. Sharjah-based Ducorr has reportedly completed the design and deployment of a cathodic protection system for Shell’s Majnoon oil field. Construction Week Online quotes company sources as saying that the flowlines were buried in very corrosive soil, hence the need for protection. (Source: Construction Week Online)

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Iraq Awards New Oilfield Licences: FULL LIST

By John Lee. Iraq’s Ministy of Oil has awarded all four development projects, and two of the seven exploration blocks, that it offered in its fifth auction of oil licences. Only nine of the 26 companies originally pre-qualified took part in the auction, with majors such as Lukoil (Russia), ExxonMobil (US) and Total (France) not bidding. Development […]

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