DNO ASA, the Norwegian oil and gas operator, this morning unveiled a proposal to acquire for USD 300 million all of the enlarged share capital in Gulf Keystone Petroleum Ltd following the latter's contemplated financial restructuring announced earlier this month. The terms of the DNO proposal, which would comprise cash and shares, reflect a 20 […]
The United Nations Security Council has adopted a resolution extending the mandate of the UN Assistance Mission for Iraq (UNAMI) for another year, until 31 July 2017. In Resolution 2299 (2016), the Security Council called on all political entities to intensify efforts to overcome divisions and work together in an inclusive and timely political process […]
By Mohammed Khuzai, Iraqi Red Crescent Society. Since early July, heavy fighting in Shirqat city in the Iraqi governorate of Nineveh has led to a great wave of displacement. More than 5,000 families were forced to leave their homes and seek refuge in Tikrit, the administrative centre of Salah Eddine province. Many displaced families stayed […]
From 27 to 28 of July 2016, the United Nations Assistance Mission for Iraq (UNAMI) Human Rights Office (HRO) in the Kurdistan Region conducted a specialized training course on the United Nations Human Rights Protection System for the DFR staff members. Twenty staff members participated in the course. The training course focused on increasing the […]
An attack occurred at Al Salam camp (also known as Al-Takia camp) for displaced families, south of Baghdad on Wednesday. Three mortar shells were fired into the camp, one falling in the centre of the camp and two others falling in a market area, injuring four children who have been taken to hospital for treatment. […]
By John Lee. Iraq's Deputy Oil Minister has said that Iraq is negotiating with Exxon Mobil and Petrochina to develop the Artawi and Nahran Omar [Nahr Bin Umar, Nahr Umr] oil fields in the south of the country. Fayyad Al-Nima, who has been acting oil minister since Adel Abdel Mahdi [Adil Abd Al-Mahdi] "suspended his participation" […]
By John Lee. Shares in Genel Energy fell 11 percent to 91.5p on Thursday after the company cut its revenue projection for the year. Meanwhile, Numis Securities maintained a 'buy' recommendation for the shares, with a target of 210p. Murat Özgül (pictured), Chief Executive of Genel, said: "The receipt of nine consecutive monthly payments from […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Aid workers are warning of a desperate humanitarian situation in the Iraqi town of Shirqat. More than 3000 people have been displaced from there since Sunday. The Iraqi military has retaken areas near […]
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported today. Strikes in Syria Attack, fighter, and remotely piloted aircraft conducted 14 strikes in Syria: Near Abu Kamal, a strike destroyed an ISIL vehicle. Near […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Almost four months into the launch of the Ninevah Liberation Operation, Iraqi forces managed to secure a major gain July 9 by capturing the strategic Qayyarah air base in the southern countryside of Ninevah […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 30 banks and 17 remittance companies took part in its currency auction on Thursday. A total of $140,261,784 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
In its results for the first half of 2016, Qatar-based Ooredoo said that its Iraqi mobile phone business Asiacell continued to be impacted by the security situation, the challenging economic environment and a decrease of customer purchasing power in Iraq. Revenue stood at QAR 2.1 billion [$577 million], down 15% compared with QAR 2.5 billion […]
