By John Lee. The Iraqi Oil Ministry has said it exported 1.097 billion barrels of oil in 2015, generating revenues of $49.079 billion at an average price of $44.74 per barrel. Bloomberg reports that it sold 99.7 million barrels of oil in December, generating $2.973 billion. (Source: Bloomberg) (Oil image via Shutterstock)
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq is offering to mediate between Saudi Arabia and Iran to end their dispute, which began when Riyadh executed a prominent Shia cleric. This, along with Tehran's alleged failure to protect Saudi Arabian […]
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. The year 2015 saw the liberation of several areas of Salahuddin (Tikrit) and Anbar (Ramadi - pictured) provinces from the grasp of the Islamic State with operations toward that end ongoing. Yet, to date […]
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 on Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Near Raqqah, fighter […]
Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of US$15 million (US$12 million net to Gulf Keystone) has been received by the Company for Shaikan crude oil export sales. This payment satisfies the Company's invoice for the month of December 2015 submitted to the Kurdistan Regional Government's Ministry of Natural Resources ("MNR"). Following […]
DNO ASA, the Norwegian oil and gas operator, today confirmed receipt of USD 30 million as partial payment towards oil exported from the Tawke field by the Kurdistan Regional Government. The payment, to be shared pro-rata with Tawke license partner Genel Energy plc, is the fourth such monthly payment since September 2015. (Source: DNO)
Dubai-based Redtag, the value fashion and home lifestyle brand, has announced that it plans to open 20 more stores in the MENA region in 2016 including in Saudi Arabia, Oman, Egypt, Iraq, and Uzbekistan. Out of a total of the brand’s over 170 stores across the Middle East, 101 are currently in Saudi Arabia, with […]
The Islamic State group (IS, ISIS, ISIL, Daesh) has lost 40 percent of the territory it once controlled in Iraq, a spokesman for the US-led coalition has said. BBC News quotes Col Steve Warren (pictured) as saying that IS was "on the defensive", and had "not gained one inch in Iraq since May". But despite […]
From Iran's PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi forces took control of Ramadi a week ago and they’re now fighting small pockets of terrorists in an effort to fully liberate the capital of Anbar province. Government troops have repelled last-ditch […]
By John Lee. Genel Energy has announced that the Taq Taq field partners have received a gross payment of $30 million from the Kurdistan Regional Government ('KRG') for oil exported through the Kurdistan Region of Iraq-Turkey pipeline. This represents the fourth export payment by the KRG since payments recommenced in September 2015. Genel's share of […]
By John Lee. The Habur border crossing between Iraq and Turkey has reopened on a limited basis on Tuesday, but with only 1,250 vehicles being allowed to through each day, according to Today's Zaman. Turkey had closed the crossing on 14th December due to ongoing clashes between Turkish security forces and the Kurdistan Workers' Party […]
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 on Tuesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strike in Syria Fighter aircraft conducted […]
