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Iraq Seeks Recovery of Funds Frozen in Italy

By John Lee. Iraq is reportedly trying to recover Iraqi funds frozen in Italy. Foreign Minister Fuad Hussein (pictured) is reported as saying that Baghdad is attempting to recover around EUR 600 million, plus interest, that the Saddam Hussein regime paid to Italian companies to purchase weapons. According to Basnews, the weapons were not delivered […]

UNDP, FBA advocate Gender Perspective in Peace-Building

Advocating a Gender Perspective in Peacebuilding: New MoU between UNDP Iraq and Folke Bernadotte Academy signed A Memorandum of Understanding (MoU) has been signed between the United Nations Development Programme (UNDP) Iraq and Folke Bernadotte Academy (FBA) to enhance local capacities for peacebuilding in Iraq with concentration on gender mainstreaming in peacebuilding. With a mandate […]

KRI Court upholds Jail Terms for Journalists

In response to the Erbil Court of Cassation's recent decision to uphold the six-year jail sentences of Iraqi Kurdish journalists Sherwan Amin Sherwani and Guhdar Zebari, the Committee to Protect Journalists (CPJ) issued the following statement: "With the Erbil Court of Cassation's decision to uphold the six-year jail sentences of journalists Sherwan Amin Sherwani and […]

Genel Confirms Increased year-on-year Production

Genel Energy has issued the following statement relating to the Company's Annual General Meeting ('AGM'), which is being held today: Bill Higgs (pictured), Chief Executive of Genel, said: "The addition of production at Sarta and the robust performance of Tawke year-to-date has increased year-on-year production in line with guidance. With a strong balance sheet, our […]

DNO Returns to Profitability, Ups Tawke Production Guidance

DNO ASA, the Norwegian oil and gas operator, today reported operating profit of USD 66 million in the first quarter of 2021, following four quarters of losses triggered by market perturbations from the global Covid pandemic. The turnaround was driven by solid production, cost optimization, higher oil prices and regularization of payments from Kurdistan. The […]

Genel Energy Directors Step Down

Genel Energy has announced that Martin Gudgeon and Esa Ikaheimonen have each tendered their resignation as Director of the Company with effect from the close of the Annual General Meeting later today, and accordingly the resolutions relating to their re-appointment have been withdrawn. Esa Ikaheimonen remains in his role as Chief Financial Officer. Martin Gudgeon […]

Program To Support SMEs in Anbar

From The Station. With the continuing pandemic, businesses around the world are struggling to deal with the impact of successive lockdowns, a wider recession that will have, and already has, a profound impact on employment rates as well as maintaining supply chains in their current form. This situation in Iraq is exacerbated by the traditional […]

Siemens to rebuild West Mosul's Super-Grid Station

Siemens Energy and the Ministry of Electricity of the Republic of Iraq signed a contract to construct Iraq's West Mosul 400-kilovolt (kV) super grid station, which will provide reliable and efficient power supply to around 700,000 Iraqi citizens in northern Iraq, particularly the Nineveh province. The construction of the Mosul station, which was destroyed in […]

Terrorist Attack on Bai Hassan Oil Field

By John Lee. A terrorist attack on the Bai Hassan oilfield in Kirkuk early on Wednesday has caused casualties and damage. A statement from the Ministry of Oil said that wells 177 and 183 were bombed, and "a number of security forces and energy police were killed and wounded". The safety and firefighting teams from […]

Iraq to Invest $3bn in Basra Gas Company

By John Lee. Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail (pictured), has said that Iraq will invest $3 billion in the Basra Gas Company (BGC) over the next five years, as it pushes ahead with plans to increase gas production. The money will fund projects intended to increase BGC's gas production capacity from 1,000 to 1,400 […]

Iraq may Buy Exxon stake in West Qurna 1

By John Lee. Press reports quote Iraq's oil minister as saying that Iraq could buy ExxonMobil's 32.7-percent stake in the West Qurna 1 oil field. Ihssan Abdul-Jabbar Ismail told a news conference on Monday that the government might purchase the stake via the state-owned Basra Oil Company (BOC). BOC previously took over the Majnoon field […]