Sonoro Energy recently announced the following operational and corporate updates. Drilling Rig As previously announced on June 12, 2012, Sonoro and its partners entered into an agreement to establish a joint venture company ("JV Co") and purchase a 750 HP drilling rig, subject to certain conditions including a final satisfactory rig inspection. JV Co has […]
Author Archive | Editor
Tags: asphalt, Berkeley Mesopotamia Petroleum, Berkeley Petroleum Mesopotamia Asphalts, Geopetrol, Salah ad Din, Salahaddin
Video: Is Iraq a Failing State?
By John Lee. "Is Iraq a failing state, or has it already failed", asks Peter Lavelle on Russia Today's Crosstalk programme. Discussing the question are Robert Maginnis, Douglas Ollivant and John Glaser.
British Consul General Bids Farewell to Kurdistan Region
By Chris Bowers, British Consul General in Erbil. This article was originally published by Rudaw, and is re-published with permission by Iraq Business News. All good things have to come to an end. After one season short of two years, dear reader, I will be returning to London to spend more time with my family. […]
Tags: Chris Bowers, Kurdistan News
Basra Oil to be Exported via Turkey?
By John Lee. Turkey's Energy Minister, Taner Yildiz, said the ministry has started technical work with Iraq's central government on shipping crude oil from Basra, in southern Iraq, via the Kirkuk-Ceyhan pipeline to Turkey's Mediterranean coast, according to Reuters. The announcement came days after the KRG said it might sell natural gas directly to Turkey […]
Iraq Watchdog to Fine Zain for Failing to List
By John Lee. Following its recent fine on mobile phone operators Asiacell and Korek, Iraq's communications regulator is to fine Zain Iraq $12,864 a day since September of last year for failing to list on the country's stock exchange, according to Reuters. The three companies are required to list on the local stock exchange as […]
Iraq Re-Invites Bids for 44,000 Tons of Steel Products
By John Lee. Iraq has reportedly re-invited bidders to supply 44,000 metric tons of steel products, having received no bids when it first sought offers a month ago. The products include plain galvanized sheets and hollow window sections, said Trade Ministry spokeswoman Fawziyeh Hameed. According to a report from Bloomberg, the deadlines for bids are: […]
Details Nearly Finalised for Diwaniya Housing Project
By Padraig O'Hannelly. Early last year, Iraq Business News interviewed Mohammed Alkhouzai, the head AMH Group, which, which along with a consortium of multinational companies was preparing to break ground on an exciting new project to build more than 10,000 housing units in Diwaniya. I spoke recently with Mr Alkhouzai, who confirmed that they are […]
KRG Head of Foreign Relations meets British Ministers
Minister Falah Mustafa, the Kurdistan Regional Government's Head of Foreign Relations, met Lord Howell, Foreign Office Minister in the House of Lords, in London. He also met other ministers and British parliamentarians, and thanked them for their support for the Kurdistan Region. Minister Mustafa and Lord Howell discussed ways of deepening the already good relations […]
Tags: KRG, Lord Howell
Leighton Executive Sacked in Probe into Iraq Bribery
By John Lee. Australian construction group Leighton Holdings has sacked a senior manager, whom it did not name, as part of its probe into allegations of bribery related to its $1.3 billion of oil contracts in Iraq. The company said "its internal review of the Iraq projects undertaken by its subsidiary, Leighton Offshore Pte Limited, […]
KRG and Turkey Cooperate to Increase Erbil Power Plant Output
KRG Prime Minister Nechirvan Barzani on Thursday inaugurated the first electricity plant anywhere in Iraq to be converted to a combined cycle system. The conversion will increase the amount of electricity produced without using extra fuel to run the plant, to support the growing electricity needs of the Kurdistan Region and Iraq. Speaking at the […]
400 Australian Scholarships for Iraqis
The Iraqi Higher Education and Scientific Research Minister, Ali Al Adeeb, has confirmed its agreement with Australia to grant 400 masters and Ph.D scholarships for Iraqi students in majors such as medicine, engineering, science and agriculture, according to a report from Alsumaria TV. On Friday he met with the Education Minister of Victoria state, an […]
Tags: Australia, Scholarships
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th July 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,310 / $1.429, (-0.8%) (weekly change). The number of week traded shares was 15.3bn and the weekly trading volume was ID21.7bn ($18.3mn). ISX Company […]