By John Lee. Oryx Petroleum Corporation has announced that it has changed its name to Forza Petroleum Limited. 2021 Budgeted Capital Expenditures Budgeted capital expenditures for 2021 are $51 million and dedicated exclusively to the Hawler license area. The planned work program involves drilling five new wells into proven, producing reservoirs and reservoirs still being […]
By John Lee. Russia's Gazprom Neft has produced its four-millionth tonne (32-millionth barrel) of oil since starting commercial development of the Sarqala field in the Kurdistan Region of Iraq (KRI). Three wells are now in operation at this field, with daily production running at about 3,100 tonnes (24,000 barrels) per day. Limitations arising under the COVID-19 pandemic notwithstanding, Gazprom […]
From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. A curfew has been imposed in Iraq's northern Sulaymaniyah province after at least five people were killed in anti-government protests. Al Jazeera's Simona Foltyn reports:
Transparency, accountability, integrity: New agreement to help combat corruption in Iraq The United Nations Development Programme (UNDP) and the Iraqi Prime Minister's Office have reaffirmed their partnership and commitment to preventing and combating corruption in Iraq by signing a new Memorandum of Understanding (MoU) designed to promote transparency, accountability and integrity in the public and […]
By John Lee. Prime Minister Mustafa Al-Kadhimi received a delegation of Saudi officials and business people in Baghdad on Monday. Among the visitors was the Saudi Minister of Commerce, Acting Minister of Media, and Chairman of the Saudi-Iraqi Coordination Council, Dr. Majid bin Abdullah Al-Qasabi. The delegation included businessmen representing 22 Saudi companies. During the […]
By John Lee. France's Total is reported to be in talks to sell its 18-percent stake in the Sarsang block in Iraqi Kurdistan, in a move aimed at reducing the company's debt. Bloomberg says the company is working with Jefferies Financial Group on the deal, adding that the holding could be worth as much as […]
By John Lee. Switzerland is hoping to reopen its embassy in Baghdad early next year. The announcement was made after the Chief of Iraq's Protocol Department, Mr. Ali Shamran, met with the Swiss ambassador to Iraq residing in Amman, Mr. Lukas Gasser, and discussed bilateral relations between the two countries and ways to develop them. […]
By John Lee. Germany's TÜV Rheinland has said it has been named as the only certification body for Iraq's new "Certificate of Registration (CoR)" procedure. In a statement, the company said all manufacturers and suppliers who export goods to Iraq will in future require a registration certificate, which was issued in accordance with the new […]
By John Lee. A member of Iraq's Parliamentary Finance Committee has reportedly confirmed the government's intention to devalue the Iraqi dinar. MP Jamal Kocher told Shafaq News Agency: "I think that there is a government tendency to create an atmosphere for raising the dollar exchange rate more than it was in previous budgets ... The […]
How China Took Control Of Exxon's Supergiant Iraqi Oilfield Recent reports suggest that Chinese oil giants China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are "considering acquiring" U.S. oil titan ExxonMobil's 32.7 per cent stake in Iraq's supergiant West Qurna 1 oil and gas field. Writing in Oil Price, Simon Watkins […]
From the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Prospects Of Establishing A Sovereign Wealth Fund In Iraq Throughout history, financial crises have been met with innovative reform plans that help develop the resilience of a […]
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Activists fear Iraqi cybercrime law could limit press freedoms The Iraqi cybercrime bill makes a reappearance amid widespread objections by civilians and activists who label it as repressive of […]
