By John Lee. As port of its operating and unaudited financial results for the second quarter of 2014, Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) has given the following update on its operations in Iraqi Kurdistan: "In the Topkhana Block, testing continues on the T-2 well and is expected to be complete in the coming days. "In […]
By Patrick M Schmidt. The Kurdistan Regional Government (KRG) has announced that they will pursue a new energy contract with Iran. It is expected that this contract will be similar to the current one with Turkey. Sherko Jawdat, Head of the Industry and Energy Committee, said, “strong oil and economic relations with Iran are part […]
By Patrick M Schmidt. The Iraqi Ministry of Oil has successfully obtained the documentation needed to seize oil from the United Kalavrvta and place it under the protection of the United States Marshals. The value of the ship’s payload is approximately $100 million dollars (1.2 billion Iraqi dinars). The oil onboard had been “illegal” piped […]
By Patrick M Schmidt. The United Nations Security Council has released as statement following concerns about radical groups in Iraq and Syria using captured oil fields as a means to generate revenue for their organizations. The statement read “that any oilfields and related infrastructure controlled by terrorist organizations could generate material income for terrorists, which […]
In an interview wtih Al-Monitor's Mehmet Cetingulec, Turkey’s Minister of Economy Nihat Zeybekci said said the Islamic State (IS) is now contacting individual Turkish businessmen to call them back to Iraq: Al-Monitor: The Islamic State is blocking Turkey’s exports to southern Iraq. Are you doing anything to overcome this? Zeybekci: Of our exports, 70% is […]
By John Lee. A former contractor has been extradited from Iraq after six years on the run, making him the first person to be returned to the United States under the U.S.-Iraq extradition treaty of 1936. Metin Atilan, 54, who has dual U.S. and Turkish citizenship, pleaded not guilty to fraud and conspiracy charges on […]
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The position of president in Iraq has always been described as an honorific one without privileges, which does not allow its occupant to affect the political course of events. However, this description does not stem […]
By Patrick M Schmidt. On Sunday, the United States Coast Guard granted permission for the Kurdish oil tanker, United Kalavrvta, to offload its payload of crude oil from Kurdistan Regional Government (KRG) controlled oilfields in northern Iraq. The State Department further indicated that they would not prevent tanker from offloading at port in Galveston, Texas […]
By Patrick M Schmidt. On Saturday, Iraqi security forces reported that ISIS militants had taken control of a portion of the Baiji [Bayji, Beiji] oil refinery. Since then, security forces have driven the militants off of the oil refinery’s premises and are now searching the area for any remaining militants. Over the past month, Baiji […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 24th July 2014). Note: ISX will be closed starting from July 27, 2014 to July 31, 2014 due to the national holiday of Eid Al-Fitr. The next session will be held on Sunday, August 3, 2014. Please click here to download a table […]
By Patrick M Schmidt. Sir Tim Clark, Chief Executive of Emirates Airlines, has announced that the airline would no longer allow its own aircraft to fly over Iraq. This statement comes as a reaction to the missile strike on Malaysian Airlines MH-17 and concerns about ISIS militants in the north of Iraq being in possession […]
From the BBC. John McCarthy meets the Kurds of northern Iraq, a unique island of stability in a nation broken into warring fragments. He asks how a people who have been victims of abuse and atrocity for generations managed to transform their fortunes so dramatically. How did they recently gain the confidence to calmly take […]
