Further to the Ministry of Natural Resources communiqué of August 3, 2015 regarding payments to the exporting international oil companies (IOCs) in the Kurdistan Region, the Kurdistan Regional Government has confirmed that the Kurdistan Regional Council for Oil & Gas Affairs expects the first tranche of regular payments to be made available to the exporting […]
By John Lee. Prime Minister Haider al-Abadi (pictured) has ordered security forces to prepare to open Baghdad's Green Zone to the public. The heavily fortified area, a virtual 'city within a city', is home to many embassies, including that of the United States. Al-Abadi has also ordered officials to re-open streets in other cities that […]
By Dr Layth Mahdi. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Prior to 2003 Iraq was a proud civilization that did not lack in nationalism. A country with roots that stemmed from “Sumer, Akkad, Babylon, Assyria and Chaldeans”. They introduced the world to […]
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. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Bomber and remotely piloted aircraft […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 27 banks and 4 remittance companies took part in its currency auction on Thursday. A total of $156,610,848 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Shares in Gulf Keystone Petroleum (GKP) were trading up 12 percent on Thursday following the announcement of its results for the six months ended 30 June 2015. Operational highlights Security situation and HSE performance All operations in the Kurdistan Region of Iraq remain safe and secure with no significant HSE incidents during the period Shaikan […]
By John Lee. Iraq's Ministry of Electricity has invited investment in a new power station at al-Yusufiyah, in Baghdad. The contract for the 1200-1400 MW plant will be granted on a build, own and operate basis. Further details are available from the Ministry of Electricity: [email protected] (Source: National Investment Commission) (Electricity image via Shutterstock)
UN agencies launch call centre to provide displaced communities across Iraq with information on humanitarian assistance To call the IDP Information Centre, dial 6999 from an Iraqi mobile phone. A national hotline for Iraqi citizens affected by the ongoing humanitarian crisis has been launched to provide timely information on humanitarian services such as food distribution […]
Just a year after it opened, the RSK combined geotechnical–environmental laboratory outside Basra, Iraq, is aiming to expand its services and recruit more young scientists to augment its staff of nearly 20. The RSK Iraq laboratory, which has been operational since May 2014, is the first combined geoenvironmental laboratory in Iraq to achieve this International […]
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. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Remotely piloted aircraft conducted two […]
By John Lee. The Korea Gas Corporation (KOGAS), the state-run South Korean gas company, is to invest $4.9 billion (5.7 trillion Iraqi dinars) to develop the Zubair oilfield. In a stock exchange filing, the company said this investment is part of the total $19.4 billion capital expenditure required for the project, and added that it […]
By John Lee. Iraq has paid international oil companies (IOCs) $9 billion in remaining arrears for 2014, according to a report from Reuters. Oil Minister Adel Abdel Mahdi (pictured) said that the outstanding fees for 2015 will be paid in stages until the beginning of next year. (Source: Reuters)
