By John Lee. Turkish-based ERGIL, a worldwide specialist in engineering, construction and manufacturing for oil, gas, water, chemical and petrochemical industries has announced that it has been enlisted as an approved supplier/contractor by the Kurdistan Regional Government Ministry of Natural Resources in Erbil, Iraq. As an official party, ERGIL is now qualified to participate in […]
Preliminary results show that Prime Minister Nouri Maliki's State of Law alliance won last month's parliamentary elections in Iraq, but fell short of a majority. The Independent High Electoral Commission (IHEC) said State of Law had taken 92 of the 328 seats in the Council of Representatives, putting it in the lead in 10 of […]
By Reidar Visser. The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The uncertified result of Iraq’s parliamentary elections, released by the election […]
By John Lee. Dana Gas has reported a 67 percent rise in operating profits in 1Q 2014 to US$ 45 million (AED 164 million) as compared to US$ 27 million (AED 98 million) in Q1 2013. This excludes the one-off gains of US$ 39 million (AED 143 million) profits arising out of the partial sale […]
By John Lee. Johnson Controls, a global multi-industrial company, will supply "YORK" HVAC equipment and building automation solutions for five, 400-bed hospitals in Iraq. The order includes 21 YORK® YK centrifugal chillers, cooling towers, air handling units, and fan coil units. The technologies are designed to work together to deliver more energy and operational savings. […]
By John Lee. Shares in Afren were down as much as 7 percent during the day on Tuesday, closing down 5.7 percent, as the company's earnings came in below target. In its Interim Management Statement this morning, Afren gave the following update on its Iraq operations: "On the Barda Rash block in Kurdistan, the BR-4 […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Governance of the Iraq Energy Sector and the Relevance of Association with Energy Charter Treaty This is an extended abstract of PowerPoint slides and interventions I delivered during the Executive Training […]
Dubai Investments PJSC [DI] has announced that Dubai Investments International – its wholly-owned subsidiary targeting overseas expansion, is currently tapping into business opportunities in Africa and Asia. As a first step in scaling up its overseas operations, DI International is targeting investments, joint ventures and strategic partnerships across Africa and Asia, and also eyeing commercial […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th May 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,842 (-0.7%)/ $1,957 (-0.7%) (weekly change). The number of week traded shares was 21.1bn and the weekly trading […]
The US State Department has made a determination approving a possible Foreign Military Sale to Iraq for M1151A1 Up-Armored High Mobility Multi-Purpose Wheeled Vehicles (HMMWVs) and associated equipment, parts, training and logistical support for an estimated cost of $101 million. The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale […]
By John Lee. Genel Energy has announced that it has completed its issue of $500 million of 7.5% senior unsecured bonds due 2019. Also, ShaMaran Petroleum has announced the listing on Oslo Børs of the USD 150 million senior secured bond issued by its wholly owned subsidiary, General Exploration Partners, Inc. The bonds carry a […]
By John Lee. In its Preliminary Results Announcement on Friday, Petroceltic International has issued the following update on its operations in Iraqi Kurdistan: Kurdistan - material prospects in a dynamic region Petroceltic has been active in Kurdistan since 2011 and has worked closely with the operator, Hess, to undertake a comprehensive survey and analysis and […]
