By John Lee. ShaMaran Petroleum has announced its financial and operating results for the three and nine months ended September 30, 2013. (Unless otherwise stated all currency amounts indicated as "$" in this news release are expressed in thousands of United States dollars): Highlights The Company announced on October 30, 2013 that its USD 150 […]
By John Lee. Shares in DNO International, the Norwegian oil and gas company with significant interests in Iraqi Kurdistan, were trading up 5.4 percent on Thursday morning after the company announced third quarter 2013 net profit of NOK 282 million [$45 million] on operating revenue of NOK 810 million [$130 million]. The shares are now […]
By Semih Idiz for Al-Monitor . Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. It is no secret, thanks to frequent leaks to the media, that energy cooperation between Turkey and the Kurdistan Regional Government (KRG) is continuing apace. This, however, has not broken […]
By John Lee. Baker Hughes has announced that a protest incident by local residents occurred last Saturday at a subsidiary's facility near Basra. No injuries were suffered and the facility was secured. The incident is currently under investigation. Due to the significant disruption of business, Baker Hughes has suspended operations in Iraq, and has issued […]
By John Lee. Iraqi Kurdistan has finalized a comprehensive package of deals with Turkey to build multi-billion dollar oil and gas pipelines. Reuters reports that the deals could see Kurdistan export some 2 million barrels per day (bpd) of oil to world markets and at least 10 billion cubic meters per year of gas to […]
By John Lee. A British employee of security firm G4S has reportedly been injured by a group of workers at a Schlumberger camp near the Rumaila oilfield. The Daily Star says the man had tried to remove a picture of Imam Ali, and flags and pamphlets commemorating Imam Hussein, venerated figures in Shiite Islam, allegedly […]
From Jewish News One. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Disturbing video footage has appeared of dozens of angry Shi'ite Muslim workers storming a Schlumberger Ltd camp at the Rumaila oilfield and beating a British security adviser they accused of insulting their […]
By Reidar Visser. The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After the […]
By John Lee. Iraq's deputy prime minister for energy, Hussain al-Shahristani (pictured), has said that 'Big Oil' is about to spend over $25 billion next year to boost oil output towards record levels. He predicted that the southern fields are expected to pump an extra 500,000 bpd in 2014, compared to just over 3 million […]
By John Lee. The Iraqi government has said that construction has begun on a cabinet-approved project to build 2,500 houses for the victims of terrorism. Deputy Prime Minister Saleh al-Mutlaq said: "The project, which the industry, housing and construction ministries began last week, is an initial phase and includes Baghdad, Wasit, Babil and Anbar provinces." The […]
By John Lee. The Ministry of Telecommunications, in coordination with the National Investment Commission (NIC) has announced an opportunity for Iraqi and foreign investors to invest the lands belonging to the Ministry, the details of which are outlined below. The offer is made in accordance with investment law No. 13 (2006) as amended, and its […]
By Abbas Sarhan. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In Karbala religion is big business. But for some time now, the religious authorities there have been moving into businesses other than faith - such as […]
