By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The market drifted lower in an Eid-holiday shortened month, as turnover declined substantially from July. However, life found its way back to the banks. For […]
By John Lee. The Trade Bank of Iraq (TBI) has reportedly announced the launch of a new $100-million investment portfolio fund. According to press reports, the Dananeer Fund has been set up in partnership with Cayman Islands-based Alpen Asset Advisors, and is structured as a "Segregated Portfolio Class B of the investment fund company". The […]
By John Lee. Basra Oil Company (BOC) has signed two contracts for new drilling at the giant Majnoon oil field. China's Hilong Oil Service & Engineering Company is to drill 80 oil wells at a cost of $54 million, while the Iraqi Drilling Company (IDC) will drill 43 oil wells at a cost of $255 […]
By John Lee. The National Investment Commission (NIC) has announced the following investment opportunities: Brick factory – State Company for Construction Industries Chlorine and Caustic Soda plant at Basra paper mill – State Company for Petrochemical Industries (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)
By John Lee. The National Investment Commission (NIC) has announced the following investment opportunities: Arar Border Crossing Point – General Commission for Border Crossings Housing Compounds for Basra Federal Appeal Court Employees – Supreme Judiciary Council (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Thousands of university graduates in oil-rich Iraq are protesting outside government ministries in Baghdad, demanding jobs. Unemployment for young adults stands at 22 percent and the government admits it has not planned for […]
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq poised for ambitious plan after Babylon listed by UNESCO After 36 years of lobbying by Iraq, the ancient Mesopotamian city of Babylon was designated in July a UNESCO World […]
By John Lee. Zubair oilfield has reportedly reached a production level of 500,000 barrels of crude oil per day (bpd). According to Business Korea, Kogas made the announcement on Thursday, adding that its "second-stage goal" is 700,000 bpd. The project is being developed by Eni (32.81%), Kogas (18.75%), Maysan Oil Company (25%), and South Oil […]
The Iraqi Foreign Ministry has signed a Memorandum of Understanding with the General Secretariat of the League of Arab States, which includes exempting Iraq from 75% of its debts within the support funds provided to Arab countries, scheduling the remaining amount and paying for its contributions to the budget of the General Secretariat of the […]
By John Lee. Russia's Stroytransgaz has signed a preliminary contract for the exploration, development and production of Block 17, in Anbar province. At a signing ceremony in Wednesday, Deputy Prime Minister for Energy Affairs and Oil Minister Thamer Abbas Ghadhban said that preliminary studies and information indicate the existence of oil reserves ranging between 2 […]
By John Lee. Genel Energy has confirmed that Chevron Sarta, as operator of the Sarta field (Genel 30% working interest), has signed a contract with Dubai-based OILSERV for the construction, installation, operation and maintenance of a 20,000 bopd central processing facility ('CPF'). OILSERV has been contracted for the facility through a lease agreement. The commissioning […]
