Shares in Genel Energy were down 3 percent on Wednesday morning following the company's trading and operations update in advance of the its full-year 2014 results, which are scheduled for release on 5 March 2015. The information contained herein has not been audited and may be subject to further review: HIGHLIGHTS A combination of low […]
By John Lee. Iraqi Oil Minister Adel Abdul Mahdi told a conference in Kuwait on Wednesday that oil prices are unlikely to fall further, following the drop of nearly 60 percent since June: "Our estimate is that the prices (of oil) have reached the bottom. It is very difficult to drop lower than this ... […]
By John Lee. Turkey is to send a power-generation ship to Basra to help alleviate its electricity shortages. The announcement was made by Turkish Energy Minister, Taner Yildiz, on Sunday during the 17th Turkey-Iraq Joint Economic Commission meeting in Baghdad. According to Worldbulletin, the ship will add 410 megawatts to the existing capacity of 250 MW […]
The United Nations human rights office today confirmed that the Islamic State of Iraq and the Levant (ISIL) has established unlawful, so-called ‘shari’a courts’ in the territory under its control that have been carrying out cruel and inhuman punishments against men, women and children. Those who are punished are accused of ‘violating the group’s extremist […]
Kurdistan Region Prime Minister, Nechirvan Barzani, yesterday received in Erbil Archbishop Giorgio Lingua, Apostolic Nuncio in Iraq and his accompanying delegation. Archbishop Giorgio Lingua said that the Vatican follows the situation in the Kurdistan Region very closely. He conveyed Vatican’s gratitude to the Kurdistan Region for sheltering and assisting the internally displaced persons and refugees, […]
By John Lee. Foreign Minister Dr. Ibrahim al-Jaafari, received the Executive Director of UNICEF, Mr. Anthony Lake, and the accompanying delegation on Tuesday. They reviewed the work of the organization and services to care for children of the world and Iraq. Dr. Jaafari said that the world today is witnessing the dire reality in the […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Wednesday. A total of $123,867,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Iraq and Turkey have agreed on a new natural gas pipeline project. The announcement was made during the visit of Turkey's Energy Minister, Taner Yıldız, to Iraq on Sunday to attend 17th meeting of the Turkey-Iraq Joint Economic Commission. Technical analysis on a new natural gas pipeline will start soon. According to […]
By John Lee. An Iranian company has struck a $40-million deal with Iraq for the supply of high voltage cables. Alireza Kolahi, the Managing Director of Abhar Cable & Wire Co., said the contract was won despite competition from Malaysia, South Korea, Turkey, Italy, Germany, Switzerland, UAE and Saudi Arabia. He said the Iraqi electricity industry […]
By John Lee. In its Trading Statement this morning, Dragon Oil issued the following update on its operations in Iraqi Kurdistan: "On 10 September 2014, the partners in Block 9 in Iraq, Dragon Oil (30%) and Kuwait Energy (70% and operator), announced their first oil discovery at the consortium's first target, the Mishrif formation, reached […]
The new German consul general to Erbil, Dieter Lamle, visited the KRG Department of Foreign Relations on Monday to introduce himself and to discuss latest developments with Minister Falah Mustafa, Head of the KRG Foreign Relations. In welcoming Mr Lamle, Minister Mustafa stated that the Kurdistan Region strongly values its ties with Germany and praised […]
The Ambassador of the Republic of Latvia to Turkey, Iran, and Iraq, Mr. Atis Sjanits, visited the KRG Department of Foreign Relations on Monday to discuss political, security, and humanitarian developments in Kurdistan and the wider Region. In his first visit to the Kurdistan Region, Ambassador Sjanits commended the KRG for the security and stability […]
