By John Lee. Shares in Genel Energy have bounced 7 percent from their recent lows this morning following the announcement of the company's full-year results (below), and bond buy-back offer. Highlights The KRG's February 2016 commitment to pay contractor export payments and address outstanding receivables led to a significant increase in cash proceeds during 2016 […]
By John Lee. Beechcraft Defense has been awarded a not-to-exceed $15,225,799 cost-plus-fixed-fee undefinitized contract action for the Peace Dragon King Air 350 program. It will provide contractor logistics support, basic life support, program support, and repair and return, cost per flight hour, travel and fuel for the Peace Dragon King Air 350 program for the […]
Genel Energy Holding Company Limited has announced a reverse tender offer (the 'Buy-Back Offer') to holders of Genel Energy Finance plc's ('the Issuer') USD 730 million GENEL01 PRO senior unsecured callable bonds with ISIN NO0010710882 (the 'Bonds'). All bondholders, subject to legal constraints, are invited to offer Bonds to the Company, being the sole shareholder […]
By Emily Couch. Clean water, clean start: AMAR water treatment plant revitalises Basra Community Iraq has long been hampered by a failing water system. The devastating 2007 cholera outbreak underlined the desperate need to improve Iraq’s water and sanitation systems. In 2008, UNICEF reported that less than 50% of the country’s population had access to […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria, conducting 28 strikes consisting of 70 engagements against ISIS targets on Tuesday, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 37 banks and 11 remittance companies took part in its currency auction on Thursday. A total of $159,075,819 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. AM General has been awarded a $28,195,632 modification (P00025) to foreign military sales (Iraq) contract W56HZV-15-C-0155 to procure 150 M1151A1B1 High Mobility Multipurpose Wheeled vehicles for the government of Iraq. Work will be performed in South Bend, Indiana, with an estimated completion date of May 31, 2017. (Source: US Dept of Defense)
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has announced that the last remaining oil fire at the Qayara oil field has been extinguished. The Islamic State group (IS, ISIS, ISIL, Daesh) had sabotaged 34 of the 50 wells at Qayara, setting 18 of them on fire. The Minister expressed his gratitude to […]
The death of innocent civilians during war is a terrible tragedy that weighs heavily on everyone, the commander of the coalition effort to defeat the Islamic State of Iraq and Syria told Pentagon reporters today. Speaking from Baghdad via teleconference, Army Lt. Gen. Stephen J. Townsend, commander of Combined Joint Task Force Operation Inherent Resolve, […]
By John Lee. The United Nations Development Programme (UNDP) has said that an estimated 50,000 people have died as a result of violence in Iraq since 2003. It made the statement in its latest annual Human Development Report (HDR), entitled ‘Human Development for Everyone’, in which it ranks Iraq in 121st place out of 158 […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 35 banks and 11 remittance companies took part in its currency auction on Wednesday. A total of $161,036,814 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Shares in Genel Energy closed down 14 percent on Tuesday after the company announced a $181-million writedown in the value of its flagship Taq Taq oilfield in Iraqi Kurdistan, in which it has a 44-percent working interest. In a statement, the company said: As previously stated, the Company commissioned an updated Competent Person's Report ('CPR') […]
