By John Lee. Genel Energy has decided to repurchase a nominal amount of USD 55.4 million of Bonds in connection with the Buy-Back Offer announced last week. The company will pay 63 percent of par value plus accrued unpaid interest. Settlement of the repurchases will occur on 30th March 2016. Shares in the company closed […]
By John Lee. The Iraqi ministry of oil has declared its final oil exports for February 2016. Assim Jihad, spokesman of the ministry, said it exported 93,500 million barrels, equating to 3,224 barrels per day, all of it from the southern ports. Final statistics from the State Oil Marketing Organization (SOMO) show revenue of 2.249 […]
By John Lee. Iran and Iraq have signed a memorandum of understanding (MoU), covering cooperation in the banking sector, in Baghdad on Wednesday. IRNA reports that the MoU was inked at a meeting attended by the visiting Governor of the Central Bank of Iran (CBI), Valiollah Seif (pictured), and his Iraqi counterpart Ali Al Alagh […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 19 remittance companies took part in its currency auction on Wednesday. A total of $82,402,011 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. US Presidential candidate Donald Trump has said that America "should have never been in Iraq". "It was one of the worst decisions ever made in the history of our country," he told The Washington Post. "We then got out badly, then after we got out, I said, 'Keep the oil. If we don’t […]
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 13.46 million from the Kurdistan Regional Government for February crude oil deliveries to the export and local markets from the Tawke field under the payment arrangement announced earlier this year. The funds, to be shared pro-rata by DNO and partner Genel Energy […]
By John Lee. Gulf Keystone Petroleum (GKP) has announced that a gross payment of $7.5 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil exports in February 2016. This gross payment comprises the Company's monthly contractual revenue entitlement under the Shaikan Production Sharing Contract for crude oil exports in February […]
By John Lee. Genel Energy plc has announced that the Taq Taq field partners have received a gross payment of $12.6 million from the Kurdistan Regional Government ('KRG') for oil sales during February 2016. Genel's share of the gross Taq Taq payment is $6.9 million. As agreed with the KRG, sales into the local market […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack and fighter aircraft […]
By John Lee. Iraq exported its first shipment of natural gas on Sunday. Oil Ministry spokesman Assem Jihad said a cargo of about 10,000 standard cubic feet of gas, in the form of condensates, left the port of Umm Qasr. He declined to name the buyer, but Oil and Gas Year cites sources as saying […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th Mar 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD891 (+7.4%) / $903 (+6.1%) (weekly change) (-18.3% and -21.2% YTD change, respectively). The number of week traded […]
By John Lee. Kurdistan Region President Masoud Barzani (pictured) has said he wants to reach an amicable agreement with Baghdad, but stressed that Kurds will "not accept to be subordinates". In his address on the occasion of Newroz, the Kurdish New Year, the President said: “We have two options before us: either we forget the […]
