As the situation in Iraq changes day by day, we are more interested than ever to hear your views on the developments in the country. Many of you have been kind enough to participate in our first online survey -- State of Iraq 2014 -- and we'd like to say a big "Thank You" for […]
By Patrick M Schmidt. The Russian state-owned oil company, Gazprom, is expected to launch exploration operations in Halabja province before the end of the year. The province is located in the region of the Kurdistan Regional Government (KRG) and lays close to the Iran-Iraq border. If they find enough oil reserves, the company will begin […]
By Patrick M Schmidt. METKA, a Greek engineering and contracting firm, has won a $165 million (192 billion Iraqi dinars) contract to work on the Shatt Al Basra Power Plant. The contract allows for the company to oversee the process of making the plant fit to burn heavy fuel oil for electrical generation. The project […]
By John Lee. Temporary power firm Aggreko has said that Iraq is its fastest growing new business. In its Half-Yearly Report, the Scottish-based company said: "Our fastest growing new business is Iraq, where we are supporting the development of the oil and gas sector in Southern Iraq and Kurdistan. "We are clearly cognisant of the […]
Applications for 2015/2016 Chevening Scholarships in Iraq are now open, and will close on 15 November at 23:59 GMT. Chevening Scholarships are awarded to talented professionals who are potential future leaders, decision-makers and opinion formers. The scholarships offer financial support to study for a Master’s degree at one of the UK’s leading universities, and the […]
By John Lee. Turkey's Economy Minister, Nihat Zeybekçi, has said the ongoing crisis in Iraq could result in a $3 billion decline in Turkish exports to Iraq by the end of the year. After the Islamic State of Iraq and the Levant (ISIS, ISIL )seized Mosul in June, exports from Turkey began to decline dramatically. […]
By Wassim Bassem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A popular mobilization is occurring in Iraq in response to the “righteous jihad” fatwa issued three days after the Islamic State (IS) occupied Mosul on July 10. Saad Hamid is among […]
By John Lee. Shares in Genel Energy, the London-listed exploration and production company and largest independent oil producer in the Kurdistan Region of Iraq, were down more than 2 percent on Tuesday after the company announced its unaudited half year results to 30 June 2014. Results summary Highlights Genel's operations in the Kurdistan Region […]
By Patrick M Schmidt. Willie Walsh, Chief Executive Officer of British Airways (BA), defended the company’s decision to continue allowing their flights to across through Iraqi airspace. BA flights to Dubai and Doha regularly operate over Iraq for a portion of the flight. "We fly over Iraq because we consider it safe. If we thought […]
By John Lee. In its interim financial and operational results for the period ended 30th June 2014, Dragon Oil gave the following update on its operations in Iraq: In Iraq, the consortium of Dragon Oil (30%) and Kuwait Energy Corporation (70% and operator) is drilling an exploration well. The well is targeting two prospective reservoirs, […]
By Patrick M Schmidt. Despite the ongoing violence in the north of Iraq, the southern half of the country has remained relatively peaceful over the past few months, especially in the southern city of Basra. Crude output for southern oilfields remains at about 3.15 million barrels of oil per day. The Iraqi government estimates that […]
By John Lee. Axeon Specialty Products said on Friday that it received a cargo of crude oil from of Kurdistan's Shaikan oilfield in June, despite the Iraqi government's attempts to block independent exports of crude by the Kurdistan Regional Government (KRG). The oil was delivered to the company's refinery in Paulsboro, New Jersey (pictured). A […]
