By John Lee. CNN's Jill Dougherty reports on allegations Iraq is helping Iran navigate around the sanctions placed on Tehran: (Source: CNN)
Video: US Officials Say Iraq Helping Iran
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Tags: Elaf Islamic Bank, Iran
Iraq to Offer Better Terms for Oil Contracts
By John Lee. Iraq's Deputy Prime Minister with responsibility for energy affairs, Hussein al-Shahristani (pictured), has reportedly said that Baghdad was considering offering foreign oil firms more lucrative contracts. According to a report from Aswat al-Iraq, he admitted that the recent fourth auction of exploration blocks had not been as successful as officials had hoped. […]
Al-Qaim Border Crossing with Syria Closed
By John Lee. Iraqi forces have closed the Al-Qaim border checkpoint with Syria with a three-metre concrete wall, Xinhua reports. Syrian rebels waged fierce battles with regime troops in the town of Albu Kamal [Al-Bukamal] along the Iraqi border, capturing a string of security posts and the local police headquarters. Taking full control of the […]
Vodafone to Partner with Zain?
By John Lee. Vodafone, the world’s second-largest mobile-phone company, is said to be nearing an agreement with Zain to expand access to networks across countries including Saudi Arabia, Iraq and Bahrain. According to a report from Bloomberg, the deal would let UK-based Vodafone lower roaming fees and share handset- purchasing costs. Vodafone is seeking to tap […]
Baghdad "to Take Legal Action Against Total"
By John Lee. The Iraqi government has reiterated commitments to take all legal actions against the French energy giant Total for signing contracts with Kurdistan region. “We will take legal actions to force the company to sell its share (25%) of al-Halfaya oilfield", said Deputy Prime Minister Hussein al-Shahristani (pictured). Total "was requested to withdraw […]
ShaMaran Petroleum Q2 Results
ShaMaran Petroleum has announced its financial and operating results for the three and six months ended June 30, 2012: Highlights The Appraisal Work Program and Budget on the Atrush Block has been approved by the KRG. The Program consists of 3D seismic and a number of appraisal wells and studies. The Atrush-2 appraisal well was […]
Tags: ShaMaran
UAE Oil & Gas Companies Eye Up Investment in Basra
UAE exhibitors to take firm role at international event in Basra as opportunities in Iraq continue to increase The UAE’s oil and gas industry is expected to make a major impact at the third annual Basra Oil & Gas International Conference and Exhibition officially supported by Ministry of Oil and organized by Expotim & Pyramids […]
Iraq to get First F-16s in Sept 2014
By John Lee. Un-named US officials have said that the first batch of F-16 fighter jets bought by Iraq are due to be delivered in September 2014, according to a report from AFP. Washington agreed last year to sell 36 F-16 jets to Baghdad as part of a package of deals worth $12 billion covering […]
Tags: F-16, Lockheed Martin
$27bn spent on Electricity Sector since 2003
By John Lee. A spokesman from the parliamentary oil and gas committee has said that $27 billion has been spent on the electricity sector in Iraq since 2003, and that vast amounts of money have been wasted through corruption. According to AKnews, Qasim Mohammed said: "Iraqi Deputy Prime Minister for Energy Hussain Shahristani will be […]
Tags: Corruption, Electricity In Iraq
VSE Wins $38m Order from Iraqi Navy
By John Lee. VSE Corporation has reported that its International Group has received a $37.6-million order to provide engineering and training services to the Iraqi Navy in Umm Qasr. The delivery order is for the continuation of work performed under its Foreign Military Sales (FMS) Naval Ship Transfer and Repair (N*STAR) contract through the Naval […]
Genel Shares Barely Move on Half-Year Results
By John Lee. Genel Energy, the London listed exploration and production company and largest independent oil producer in the Kurdistan Region of Iraq, has announced its half year results for the six months to 30 June 2012. Shares in the company closed at 700p on Thursday, up just 0.8%. Highlights Expanded our position as the […]
Tags: Genel Energy
IBN's Expert Bloggers Lead the Way
By Padraig O'Hannelly. For readers interested in investment opportunities in Iraq, I think it's fair to say that our Expert Bloggers have excelled themselves in recent weeks. Following the analysis of Iraq's banking sector by InvestAD's Sherif Salem earlier this month, Mark DeWeaver of Quantrarian Asia Hedge has been picking through the balance sheets of […]