Genel Energy has announces its audited results for the year ended 31 December 2019. Bill Higgs, Chief Executive of Genel, said: "The industry is currently facing headwinds that challenge companies to demonstrate their resilience and flexibility. Genel has a business model and strategy designed to shelter us from such extreme circumstances, with low-cost oil production, […]
By John Lee. Malaysia's Petronas has said it has shut down production and safely evacuated all of its Malaysian employees from Iraq due to coronavirus (COVID-19). In a statement, the company said: "In view of the COVID-19 pandemic and as a precautionary measure to ensure the health, safety and well-being of our employees, PETRONAS has […]
The Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Deputy Prime Minister and Minister of Oil, Thamir Ghadhban. The Cabinet received a detailed briefing from the Minister of Health on the range of new measures being implemented to contain COVID-19. These measures include: Declaring a curfew in Baghdad for a week […]
Genel Energy plc has updated its oil reserves and resources across its portfolio. Bill Higgs (pictured), Chief Executive of Genel, said: "Genel's producing assets are profitable even at an oil price of $30/bbl and this, coupled with our robust balance sheet, supports investment in growth and the payment of a material dividend. The reduction of […]
DNO ASA, the Norwegian oil and gas operator, today announced a 30 percent or USD 300 million reduction in its 2020 budget to shore up its balance sheet in the face of unprecedented market convulsions and plunging oil prices triggered by the coronavirus pandemic. Steps have already been taken to suspend most discretionary drilling and […]
By Amnesty International. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq: 3D reconstruction shows security forces deliberately killed protesters An exclusive new visual investigation by Amnesty International and SITU Research shows that Iraqi security forces intended to kill or severely maim dozens of protesters […]
By Michael Knights, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Giving Iraq's Next Prime Minister Space to Succeed As the next well-qualified, Iraqi-chosen candidate navigates the delicate ratification process, Washington can avoid disrupting his efforts […]
By Abbas Kadhim, for the Atlantic Council. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Another prime minister nominee in Iraq: Will this one take? On March 17, Iraqi President Barham Salih appointed Adnan Al-Zurfi, a member of the Council of Representatives and […]
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq's latest prime minister-designate faces opposition from Iran-backed militias Iraqi President Barham Salih designated a former governor of Najaf, Adnan al-Zurfi, for the prime minister's post March 17. He has 30 days to […]
By John Lee. Iraqi President Barham Salih has named former governor of Najaf, Adnan al Zurfi (pictured), as Prime Minister Designate, asking him to form a new government within 30 days. The 54-year-old is a member of the small Nasr parliamentary group, led by former Prime Minister Haider al-Abadi, and was formerly a member of […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading down 9.6 percent on Monday, compared to a broader market fall of 7.4 percent, as the company announced that expansion plans will be delayed due to coronavirus (COVID-19). In a statement to the markets, the company said: The Company has been closely monitoring the […]
By John Lee. Aqaba Container Terminal (ACT) has reported that its strategy to promote Aqaba as a gateway to Iraq and the wider Levant has delivered "a sharp increase in containers to Iraq (up 367% compared to previous year), and thus contributed to the positive results recorded for the past few months". The Founder and […]
