ShaMaran Petroleum has announced its financial and operating results for the three and nine months ended September 30, 2011. Highlights A major oil discovery in the Atrush Block was announced by the Company on April 13, 2011. The Atrush 1 well flowed at rates totalling over 6,393 bopd of 26.5 API oil from three tests […]
Gulf Keystone provided an update on Monday on its ongoing exploration and appraisal programme for the Shaikan block in the Kurdistan Region of Iraq. Shaikan is a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels calculated on the P90 to P10 basis with a mean value […]
Reuters reports that the United Arab Shipping Company (UASC), which is jointly owned by a group of Gulf Arab states and Iraq, has picked banks for investor meetings in advance of a possible bond issue. Deutsche Bank, Mitsubishi UFJ and UBS will arrange meetings for the company. Roadshows will begin in Singapore on Thursday, and […]
To encourage investment in Iraqi Kurdistan, state authorities are able to gift land to important projects. However the process is plagued by corruption and injustice and has resulted in empty plots, unfinished projects and some undeservedly wealthy locals, according to this article from Niqash. Any opinions expressed are those of the author and interviewee, and […]
By Gavin Jones, Director of Iraq Business News, and Partner at consultancy firm Upper Quartile. This article was originally published on the Emerging Economics blog. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Last week hundreds of people were arrested all over Iraq in […]
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd November 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,326 / $1,471, -6.7%. The number of weekly traded shares was 2.7bn and the weekly trading volume was ID161.0bn ($137.6mn). […]
By T. Keyzom Ngodup, co-founder and Executive Director at Ideas sYnergy www.ideas-sYnergy.net, a local multiple bottom line advisory enterprise, driving innovation for social impact. According to the recently released World Bank Report The Republic of Iraq: Financial Sector Review, “SME and microfinance is not well developed in Iraq”. Over 85% of lending to Iraq SMEs […]
Construction Week Online reports that Iraq’s Minister for Construction and Housing, Mohammad Sahib Al Darraji [Muhammad Sahib al-Daraji], is in discussions with Chinese companies regarding the construction of the road linking Baghdad with Zakho on the Turkish border, known as Highway No. 2. Al Darraji spoke with specialist firms during a visit to Beijing and […]
Iraqi minister of Industry and Minerals, Ahmed Nasir al-Karbouli [Ahmad Nassir Al-Karbooli], pictured, met the Japanese ambassador to Baghdad, Susumu Hasegawa, this week to discuss industrial cooperation. Aswat al-Iraq reports that both sides discussed how to encourage Japanese companies to enter Iraq markets. Karbouli confirmed the desire of the ministry to benefit from Japanese expertise […]
Iraq has allocated $250 million to fund joint development projects with international partners in 2012, according to reports from AFP. Peter Batchelor, country director for the UN Development Programme (UNDP) in Iraq said, "for next year, 2012, the government has put aside in the federal budget $250 million ... The aim... is to use it […]
The fourth agro-food trade fair will open in Erbil next week with 350 companies from 21 countries coming to put their products on show. Aziz Ibrahim, director of trade in the Kurdistan Regional Government (KRG)'s Ministry of Trade and Industry, told a news conference in Erbil on Thursday that there were new companies among the […]
By Chris Bowers, British Consul General in Erbil. This article was originally published by Rudaw, and is re-published with permission by Iraq Business News. Like all the best ideas, the concept for a British Film Festival in Kurdistan Region came from a chat between two friends over a few drinks a few months ago. Those […]
