By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has narrowed the discount for April crude deliveries to Asian buyers by the most since November 2011, according to Bloomberg. Asian shipmentas are priced relative to the Dubai-Oman crude benchmark, published by Platts, the energy-information division of McGraw-Hill. Basrah Light to Asia will sell at a […]
By John Lee. Militants from the Islamic State (IS, ISIS, ISIL) have reportedly destroyed ruins at the ancient city of Hatra, 110km (68 miles) south-west of Mosul. The UNESCO world heritage was founded during the Parthian Empire over 2,000 years ago. "The destruction of Hatra marks a turning point in the appalling strategy of cultural […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th March 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,028 (-2.9%) / $1,079 (-2.9%) (weekly change) ) (-26.2% and -27.2% YTD change, respectively). The number of week […]
By John Lee. The Managing Director of the National Iranian Gas Exports Company has said that Iran is ready to sign an agreement with Iraq to supply Basra with 5 million cubic meters (mcm) of natural gas per day in next Iranian calendar year. Alireza Kameli (pictured) said Iran will start export one year after […]
By John Lee. The Islamic State (IS, ISIS, ISIL) has bulldozed the ancient Assyrian city of Nimrud (Kahlka), which lies about 30km (18 miles) south-east of Mosul. The city was founded more than 3,300 years ago and was one of the capitals of the Assyrian empire. Its frescos and works are celebrated around the world […]
By Mustafa al Kadhimi for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the opinions of Iraq Business News. Iraq's de-Baathification crisis resurfaced Feb. 2, when the Cabinet approved amendments to the Justice and Accountability Act, which deals with the country's ex-Baathists and the banning of the Baath […]
By John Lee. Shares in Genel Energy bounced 4 percent from a long-term low on Thursday morning following the publication of its results for the year ended 31st December 2014. Highlights 2014 revenue of $520 million, an increase of 49% on 2013 2014 EBITDAX of $411 million, an increase of 49% on 2013 2014 production […]
By John Lee. The Iraqi government has reportedly requested talks with ExxonMobil to restructure oil agreements to help Iraq meet its near-term cash requirements. CEO Rex Tillerson (pictured) is quoted by Reuters as saying that "by and large we are current in our payments," adding that any change would have to be beneficial to Exxon. […]
By John Lee. DNO, the Norwegian oil and gas operator, produced its first 100 million barrels of oil at its flagship Tawke field in February. Executive Chairman Bijan Mossavar-Rahmani told a conference in Oslo: "Output will pick up at Tawke this spring with the expansion of the field's capacity to 200,000 barrels per day." A […]
By John Lee. A spokesman for Iraq's Ministry of Oil has said that Iraq is looking for international companies to build a pipeline from Haditha to the Jordanian port of Aqaba. Assem Jihad told NINA: "Iraq signed an agreement with Jordan to extend a pipeline to transport oil through Haditha in Anbar to the Jordanian […]
Iraq has launched its first Proficiency Testing (PT) scheme, through the Iraqi Accreditation System (IQAS), targeting 20 material and mechanical (Hardness) testing laboratories. This is an important milestone in establishing the system required for laboratories to achieve accreditation against the requirements of ISO/IEC 17025, an international standard which shall assure that measurement services and tests […]
Allurentis, UK publishers of The New Iraq series, are now in production of the 2015 edition of the book. This will be the sixth edition and will be launched in the coming months. There are opportunities for organisations from all sectors to promote their services to a global audience through editorial features and advertising. For […]
