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 […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) fell to a seven-year low in early trading on Thursday, as the company said it is continuing discussions with bondholders. The company announced its results for the year ended 31 December 2015: Highlights to 31 December 2015 and post reporting period Operational Gulf Keystone's operations in […]
By John Lee. In a speech to the fourth annual Sulaimani Forum, held by the American University of Sulaimani, KRG Prime Minister Nechirvan Barzani explained the current situation in Kurdistan Region, focusing on the internal political conditions, the war against ISIS, the economic crisis and Kurdistan Region’s relations with Baghdad. He was particularly critical of […]
Oryx Petroleum Corporation has announced its financial and operational results for the year ended December 31, 2015. All dollar amounts set forth in this news release are in United States dollars, except where otherwise indicated. 2015 Financial Highlights: Total revenues of $20.5 million on working interest sales of 588,200 barrels of oil (“bbl”) and an […]
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 on Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack aircraft conducted […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. After living in IDP camps in Iraq, more than 1200 families have returned to their villages of Zangora and Asriya in Anbar province. Iraqi forces have in recent weeks been trying to flush out […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Proposed INOC Law Could Disintegrate Petroleum Sector and Damage the Iraqi Economy At short notice I was asked to give opinion on the text of the proposed Iraqi National Oil Company (INOC) […]
By John Lee. Anglo–Swiss commodity trader Glencore has reportedly paid Iraqi Kurdistan $300 million as an advance for oil shipments. Anonymous sources told Reuters that the company made a prepayment in recent days, and will start receiving crude from mid-year. The Kurdistan Regional Government (KRG) said on Monday it had received $100 million in February […]
By John Lee. According to a report from Reuters, Indonesia's state-owned energy company Pertamina hopes to seal a deal this year with an un-named Indian refiner to process around 1 million barrels of Iraqi crude oil each month. Chief Executive Dwi Soetjipto (pictured) told reporters: "It is better if we purchase the crude and then utilize […]
