By John Lee. Gulf Keystone's former Chairman Simon Murray (pictured), whose retirement was announced by the company on Tuesday, told Reuters he was effectively forced to quit the company. Murray said he disagreed with the firm's decision to raise $41 million through an equity issue at a 21 percent discount to the market, a move intended […]
By John Lee. A Greek shipping company has reportedly agreed to settle with Baghdad over its role in the export of crude oil from Iraqi Kurdistan, which Baghdad regards as illegal. Last September, the federal government in Baghdad filed a $300-million lawsuit against Marine Management Services (MMS), and subsequently banned three of its oil tankers from […]
By John Lee. A Lebanese company has launched a major construction project in Maysan governorate. Hariri Construction and Contracting Company (HARCO) was awarded the $80-milllion 'Luluat Al Amarah' (Pearl of Amarah) contract in late 2014, and has just started excavation at the site. It involves the construction of a five-star 16-storey hotel with 192 rooms, […]
The Iraq Britain Business Council (IBBC) Spring Conference 2015 will be held at the Mansion House on the 1st June and the Royal Overseas League on the 2nd June. Baroness Nicholson of Winterbourne, IBBC Executive Chairman and UK Trade Envoy for Iraq, the Executive Committee and Council Members, will welcome distinguished speakers such as H.E. […]
Mitsubishi Hitachi Power Systems (MHPS) has received an order from the Ministry of Electricity (MOE) of Iraq for refurbishment of Unit 4 (output: 200 megawatts) at the Hartha Thermal Power Station. The refurbishment work, scheduled for completion in May 2017, requires large-scale replacement of core components of the plant's seriously degraded power generation facilities. The […]
By John Lee. BH Defense LLC of Arlington, Virginia, has been awarded a $20,782,657 contract to assist Iraq in establishing the Iraq International Academy to develop senior leadership. According to a statement by the US Dept of Defense, the estimated completion date is March 31, 2016. BH Defense is headquartered in Arlington, Virginia with offices […]
By John Lee. IQ Networks, a wholesale internet provider based in Sulaymaniya, expects to open a $100-million (120-billion-Iraqi-dinar) broadband cable from Turkey to Iraq's Gulf coast by the end of this year. Reuters reports that, after spending an extra $30 million to replace lines and equipment overrun by Islamic State (IS, ISIS, ISIL), the company […]
By John Lee. A report from Amnesty International USA says that Iraq had the world's fourth highest rate of executions in 2014. China again carried out more executions than the rest of the world put together; Amnesty International believes thousands are executed and sentenced to death there every year, but with numbers kept a state […]
By John Lee. Zain Group has announced that Wael Ghanayem, Chief Financial and Operating Officer of Zain Iraq will return to Zain Group to become part of the Group’s executive leadership in implementing its new strategic direction of transforming into an integrated digital mobile operator. In addition, Mr. Ghanayem will continue to support Zain Iraq, […]
By John Lee. A backlog of over 30 oil tankers, two-thirds of them supertankers (VLCC), has built up outside Basra post, and shippers face delays of up to three weeks because of bad weather and possible oil quality issues, according to a report from Reuters. Shipping industry sources said the problems could delay or limit […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq said security and allied forces backed by US-led coalition aircraft "liberated" the city of Tikrit on Tuesday, its biggest victory yet in the fight against Islamic State jihadists:
According to casualty figures released today by UNAMI, a total of 997 Iraqis were killed and another 2,172 were injured in acts of terrorism and violence in March*. The number of civilians killed was 729 (including 42 civilian police), and the number of civilians injured was 1,785 (including 98 civilian police). A further 268 members […]
