Head of KRG Foreign Relations, Minister Falah Mustafa, today welcomed the new Head of Embassy Office of the Republic of Korea, Mr. Young-Kyu Park. On behalf of the KRG, Minister Mustafa congratulated Mr. Park on his new post and assured him of the DFR’s full support to ensure the success of his mission. The Minister […]
By John Lee. BasNews reports that the Islamic State group (IS, ISIS, ISIL, Daesh) is allegedly attempting to put residential buildings taken from civilians in Mosul on sale. A source told the news agency that IS confiscated "more than 126" (sic) houses left by Kurds and Christians in Mosul, and is now selling the houses […]
The US State Department's Defense Security Cooperation Agency (DSCA) has approved a possible Foreign Military Sale to the Government of Iraq for KA-350 [King Air 350] sustainment, logistics, and spares support. The estimated cost is $350 million. The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale on February 23, 2016. […]
By John Lee. French oil company Total and Swiss oil-trading company Vitol have been fined for corruption by a French court in relation to Iraq’s oil-for-food program. According to Bloomberg, Total was guilty of corrupting foreign civil servants, and has been fined EUR 750,000, while Vitol has been fined EUR 300,000. Other corruption charges against Total […]
The Kurdistan Regional Government (KRG) today relaunches the monthly crude oil export reports, to include additional information that further increases the transparency of the KRG’s direct oil sales. All future monthly reports will contain this new information. For the first time the monthly reports include the revenues received by the KRG on account and cargoes […]
ALE has completed the year-long operations for the Badra heavy transportation contract in Iraq. The global heavy lifting specialists were contracted as part of the Badra Oil Field Development Project to receive and transport 44 heavy and Out of Gauge (OOG) items 600km to site. With weights up to 230t and dimensions up to 48m […]
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 today. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter, and remotely […]
United States Assistant Secretary of State for Democracy, Human Rights and Labor Tom Malinowski visited Iraq, February 21-24, to discuss human rights issues with senior Iraqi government and judicial officials, and religious and civil society leaders. The Assistant Secretary’s delegation, which included Knox Thames, Special Advisor for Religious Minorities, was joined by United States Ambassador […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 29 banks and 20 remittance companies took part in its currency auction on Thursday. A total of $107,780,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] has said that Iraq’s oil and gas industry will need an investment of $300 billion over the next 15 years. He made the statement during a visit to Japan, at which he also discussed the long relationship between the two countries in the energy […]
By John Lee. In its final results for the 52 week period ended 1 January 2016, released today, Weir Group announced that services revenues were more resilient with growth in Iraq partially offsetting declines in the North Sea and the Caspian. The company also said that is had acquired a service facility in southern Iraq. Keith […]
By John Lee. Petrofac announced its final results for the year ended 31 December 2015 on Wednesday. As part of its update, it said it has completed "the second of three trains on the Badra project in Iraq and the third train is expected to be completed shortly". (Source: Petrofac)
