By John Lee. Bloomberg reports that Oryx Petroleum Corp. (OXC) is to drill a well at its Banan site in Iraqi Kurdistan in the third quarter. The company, Canada’s newest publicly traded oil explorer, is hoping to find out of the site has the same type of reserves as its Demir Dagh discovery, which has 160 million […]
By John Lee. The Governor of Iraq's Central Bank, Abdulbasit Turki, has said that Iraq’s financial capabilities are stronger than any challenges the country might be facing. Speaking at a celebration to mark the 10th anniversary or Iraq’s Commercial Bank, he said "The near future will be a surprise … our potentials are greater than […]
By John Lee. Sonoro Energy Ltd. has announced that the Company has changed its strategy of making significant use of advisory and consulting services in Iraq to primarily utilizing its own established network. With this change, the Company has terminated its advisory and consulting agreement with Amira Management B.V. (an entity with the same principals […]
By John Lee. The head of the Baghdad Investment Commission (BIC), Shakir al-Zamil [Shaker Shabib] (pictured), said he recently authorized the construction of 2600 housing units for the Ministry of Higher Education and Scientific Research. Azzaman reports him as saying that private and foreign investments are pouring into Baghdad, despite the latest upsurge in violence. He […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 11th July 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,845 (-0.9%) / $1,955 (-1.5%) (weekly change). The number of week traded shares was 6.2bn and the weekly […]
From Iran’s PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iran has reached an agreement with Iraq to increase its electricity exports to its western neighbor. Nearly 150 megawatt of electricity is expected to be added to the volume of Iran's electricity exports. […]
The Canadian Ambassador to Iraq and Jordan, Mr Mark Gwozdecky, met with Minister Falah Mustafa yesterday as part of his farewell tour of Kurdistan. Ambassador Gwozdecky has served in his post for over three years. He will return to Ottawa to head the Middle East Bureau at their Ministry of Foreign Affairs. During their meeting, […]
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Kurdistan Region of Iraq President Massoud Barzani's visit to Baghdad on July 7 carries many connotations. It also reflects an Iraqi environment favorable to dialogue, not only to resolve the problems […]
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 […]
By Tom Walker, Director, Assaye Risk COUNTRY OVERVIEW This week saw a change in the security situation with a significant decrease in the recent persistent levels of violence that have plagued the country. We have seen a reduced number of high impact attacks taking place, as much of the Sunni insurgency focus would appear to […]
By John Lee. India is interested in building refineries and petrochemical plants in Iraq, according to a report from the Economic Times. Oil Minister M Veerappa Moily (pictured), who led a 28-member delegation to participate in the 17th India-Iraq Joint Commission meeting in Baghdad, expressed interest in setting up gas-based projects including fertiliser plants. He […]
Gulf Keystone has announced that further to the approval of the Field Development Plan for the Shaikan field, a world class commercial discovery, announced on 26 June 2013, the Company has commenced its development drilling programme with the spudding of Shaikan-10. In parallel, production operations from the newly commissioned Shaikan production facility ("PF-1") are scheduled […]
