Todd Kozel, the founder and chief executive officer of Iraq-focussed Gulf Keystone Petroleum Ltd. (GKP), said he may have to pay a $6 million fine to U.S. tax authorities because he didn’t declare overseas accounts and trusts. According to the report from Bloomberg, the penalty came to light when his attorneys listed it among his […]
Bloomberg reports that Iraq bought 400,000 metric tons of wheat from Russia, Australia and Canada. The amounts were: 150,000 tons from Canada; 150,000 tons from Russia; and, 100,000 tons from Australia, Hassan Ismail Ibrahim, director general of the Grain Board, told Bloomberg by telephone. The deadline for the tender expired on 4th December. Iraq plans […]
According to this video report from CNN, Kurdistan is in the midst of an economic boom that could make it an economic gateway to Iraq: (Source: CNN)
Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for January. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); Shipments to […]
Patrick Kron, Chairman and Chief Executive Officer of Alstom, and the Iraqi Vice Minister of Electricity, His Excellency Salam Kazzaz, signed on 11 December, in the presence of His Excellency Karim Aftan El Jumaily, Minister of Electricity, a contract worth approximately €400 million to build the 728 MW Al Mansuriya gas-fired power plant in the […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. 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. […]
Informal comments to the media by Martin Kobler, Special Representative of the Secretary-General for Iraq, on the United Nations Assistance Mission for Iraq (UNAMI): (Source: United Nations) For more analysis on the current security situation please see today's report from our Expert Blogger John Drake.
Officials in Basra are reportedly trying to cancel a $17 billion Shell gas deal because they want a bigger say, highlighting the pressure on central government to ease its control over the provinces. According to the report from Reuters, the province is increasingly restless with the slow pace of development and wants more control over […]
WesternZagros Resources Ltd. (TSX VENTURE:WZR) will be profiled in a BTV - Business Television feature to be broadcast on national TV in Canada and the U.S. on December 10 and 11, 2011. BTV, a half-hour weekly business news program, profiles emerging publicly-traded companies across Canada and the U.S. WesternZagros's BTV segment will feature interviews with […]
Norwegian oil company DNO, which has extensive interests in Iraqi Kurdistan, has issued an updated corporate presentation. Please click here to download (7.6 MB).
The 2nd Basra Oil & Gas, organized by Expotim International Fair Organizations INC and Pyramids International Group, concluded on the 28th November with record exhibitor and visitor numbers. The 2011 edition of the largest oil & gas show in Iraq welcomed 17,000 visitors from over 40 countries emphasizing its stance as an international exhibition. This […]
Leighton Offshore officially launched its new engineering business in Malaysia. DPS Leighton Engineering Sdn Bhd (LE), a fully owned PMC subsidiary of Leighton Offshore, provides engineering and PMC solutions for Leighton's international EPCIC and LOFS business. Leighton's detailed engineering and PMC arm has grown from the former oil and gas engineering consulting business of DPS […]
