By John Lee. Shares in Genel Energy fell 11 percent to 91.5p on Thursday after the company cut its revenue projection for the year. Meanwhile, Numis Securities maintained a 'buy' recommendation for the shares, with a target of 210p. Murat Özgül (pictured), Chief Executive of Genel, said: "The receipt of nine consecutive monthly payments from […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Aid workers are warning of a desperate humanitarian situation in the Iraqi town of Shirqat. More than 3000 people have been displaced from there since Sunday. The Iraqi military has retaken areas near […]
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported today. Strikes in Syria Attack, fighter, and remotely piloted aircraft conducted 14 strikes in Syria: Near Abu Kamal, a strike destroyed an ISIL vehicle. Near […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Almost four months into the launch of the Ninevah Liberation Operation, Iraqi forces managed to secure a major gain July 9 by capturing the strategic Qayyarah air base in the southern countryside of Ninevah […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 30 banks and 17 remittance companies took part in its currency auction on Thursday. A total of $140,261,784 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
In its results for the first half of 2016, Qatar-based Ooredoo said that its Iraqi mobile phone business Asiacell continued to be impacted by the security situation, the challenging economic environment and a decrease of customer purchasing power in Iraq. Revenue stood at QAR 2.1 billion [$577 million], down 15% compared with QAR 2.5 billion […]
Genel Energy has announced that the Taq Taq field partners have received a gross payment of $24.91 million from the Kurdistan Regional Government for oil sales during June 2016. Genel's net share of the payment is $13.70 million. The payment reflects full settlement of the invoiced amount for June 2016 oil sales, and incorporates $20.82 […]
By John Lee. Iraq's Ministry of Oil has announced the completion of five new oil wells at the Halfaya oil field. Mr. Adnan N. Sajit, the director general of the Maysan Oil Company (MOC), said the drilling was done by two Chinese companies contracted by Petrochina, the main operator of the field. Production at Halfaya […]
Kurdistan Regional Government Prime Minister Nechirvan Barzani says education is the key to success and progress in Kurdistan. Prime Minister Barzani says, development and prosperity are achieved through the advancement of Kurdistan’s education system. Mr. Barzani made the statement during a special ceremony held on Tuesday in Erbil to honor top students for 2015-2016 academic […]
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq on Monday, Combined Joint Task Force Operation Inherent Resolve officials reported n Tuesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, ground […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 30 banks and 17 remittance companies took part in its currency auction on Wednesday. A total of $154,161,114 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Statement by the Co-Hosts Canada, Germany, Japan, Kuwait, The Netherlands, and the United States at the July 20 Pledging Conference in Support of Iraq Over $2 billion in new money has been pledged for the people of Iraq in response to Da’esh’s campaign of tyranny that has resulted in enormous suffering, deprivation, and devastation for […]
