By Omar Sattar, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. With Prime Minister Haider al-Abadi thought to be working on reforms that include the formation of a technocratic Cabinet, the issue of proxy appointments is back in the spotlight. For more than a […]
WesternZagros Resources has announced that the transition of operatorship of the Garmian Block in the Kurdistan Region of Iraq ("KRI") from WesternZagros to Gazprom Neft Middle East B.V. was completed effective February 29, 2016. The agreement does not involve any change of working interest in the production license. This transition was made pursuant to the […]
WesternZagros Resources announced today its operating and financial results for the fourth quarter and year ended December 31, 2015. All amounts set out in this press release are in US dollars unless otherwise stated. Commenting on the year end and subsequent events, WesternZagros's Chief Executive Officer, Simon Hatfield (pictured) said: "In 2015, we were pleased […]
DNO ASA, the Norwegian oil and gas operator, today released its 2015 Annual Report and Accounts together with its 2015 Annual Statement of Reserves. The company reported record levels of operated production in 2015, driven by strong performance in the Kurdistan region of Iraq, though the company's financial results were impacted by the sharp drop […]
Genel Energy has announcing a reverse tender offer to holders of Genel Energy Finance plc's USD 730 million GENEL01 PRO senior unsecured callable bonds (ISIN NO0010710882). The Company intends to offer one repurchase price at which all relevant Bonds are to be repurchased. The Repurchase Price will be determined through a reverse book-building ("Dutch auction"). […]
By John Lee. Iraq Oil Report, citing Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi], says Baghdad has stopped oil exports through the Kurdish region, to put pressure the Kurdistan Regional Government to resume talks about sharing oil revenues. Sources confirmed to Reuters that the state-run North Oil Company (NOC) has stopped pumping oil […]
ShaMaran Petroleum has announced its financial and operating results for the year ended December 31, 2015. Unless otherwise stated all currency amounts indicated as "$" in this news release are expressed in thousands of United States dollars. Construction of the 30,000 bopd Atrush Phase 1 Production Facility ("Production Facility") is in progress. Substantially all equipment […]
By John Lee. US Secretary of State John Kerry has said that in the 18 months since terrorist group Daesh (Islamic State, IS, ISIS, ISIL) began to seize territory in Syria and Iraq, coalition airstrikes have helped to liberate Kobani, Tikrit, Ramadi, and other key cities and towns. He added: "We have pushed the terrorists […]
By Mustafa Saadoun for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. On Feb. 28, the Islamic State (IS) attacked the headquarters of the Iraqi army’s 22nd Brigade in Abu Ghraib city, west of Baghdad, killing 13 soldiers. The Iraqi security forces and the […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported Thursday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack aircraft conducted two […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 17 remittance companies took part in its currency auction on Thursday. A total of $134,829,807 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Boutique investment bank Exotix Partners has issued a "buy" alert on Iraqi benchmark U.S.-dollar 2028 bonds on Tuesday, following a "sell" notice in September. The company says: "It seems that an extra level of country risk is being embedded in Iraq specifically, perhaps because the market views its debt as unsustainable. Having once […]
