The UK's High Court has ordered the Kurdistan Regional Government (KRG) to pay a consortium led by Dana Gas $100 million within 14 days. In a statement, the KRG's Ministry of Natural Resources said: “The Court’s decision does not relate to the substantive merits of the claims and counterclaims in the on-going arbitration between the […]
U.S. and coalition military forces 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 Sunday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, ground-attack, fighter, bomber […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 19 remittance companies took part in its currency auction on Monday. A total of $271,347,366 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Advertising Feature The Iraq Club is a unique business-focussed networking event that showcases business leaders and experts, who have first-hand experience of operating in the Iraq energy market. At our next meeting, taking place in less than 3 weeks time, we have confirmed a fantastic line up of speakers, including: Simon Daman Willems, Managing Director, Basrah Gas Company Ben […]
The First Deputy Managing Director of the National Iranian Drilling Company (NIDC) said the company will add two more drilling rigs to the development project at South Azadegan oilfield, which is shared between Iraq and Iran. Mohammad Reza Takayedi told Shana that NIDC has been tasked with drilling operations of 40 wells in a 24-month […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th Nov 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID999 / $1,036 (-3.4%) (weekly change) (-28.9% and -30.1% YTD change, respectively). The number of week traded shares […]
BasNews reports that the Kurdistan Regional Government (KRG) is planning to build pipelines transporting oil and gas to and from Iran. Abdullah Akrayi, the Head of the KRG’s Department of Relations with Iran, told BasNews that Erbil has resumed discussions with Tehran to establish two pipelines importing gas from Iran and sending KRG oil to […]
Honeywell has announced that it will provide industry-leading process technology and advanced automation controls to Iraq’s Karbala refinery, now under construction in Karbala Province, about 120 kilometers south of Baghdad. According to a statement from the company, the grassroots refinery will use industry-leading refining processes from Honeywell UOP and automation controls from Honeywell Process Solutions […]
By John Lee. Iraqi Finance Minister Hoshyar Zebari has said that the oil pipeline between Iraq and Jordan is a priority for the Iraqi government. He told the Jordanian news agency Petra that Baghdad is currently considering the best alternatives to change the pipeline’s course to pass through safer areas inside the country. The added […]
The local government in Dhi Qar province has signed a memorandum of understanding with a number of Korean companies in various fields, notably investment, infrastructure, and construction of residential complexes. The head of Dhi Qar province Council, Hamid Naeem Gizi said in a statement: "After series of meetings with a group of Korean companies , […]
Falling oil prices have driven the Kurdish region of northern Iraq to the brink of bankruptcy. Government salaries have not been paid for months, and citizens are suffering - some are being forced to take second jobs. Al Jazeera's Imran Khan reports from Erbil:
Iran has agreed to send 35 mcm/d of its gas to the Iraqi city of Basra for a period of 6-years. Based on the deal, signed by Head of National Iranian Gas Company (NIGC) Reza Araqi and Iraqi Deputy Minister of Electricity Khalid Hassan Saleh, Iran will supply 20mcm/d of natural gas to Basra in […]
