We get many enquiries at Iraq Business News relating to the future of the Iraqi dinar (IQD), for example: Will the Iraqi dinar increase in value? Will the currency be re-denominated, dropping the 'three zeros'? Is it wise to buy Iraqi dinar? Firstly, Iraq Business News is not in a position to give investment advice. […]
The United Nations Compensation Commission has made another $1,038,375,281 available to the Government of Kuwait for distribution to eight successful claimants in compensation for Iraq’s 1990 invasion. This payment leaves approximately $18 billion outstanding to six compensation awards. Successful claims are paid with funds drawn from the United Nations Compensation Fund, which is funded by […]
As part of its third quarter earnings results, Schlumberger has issued the following statements on its operations in Iraq: In Iraq, Wireline MSCT* mechanical sidewall coring technology has been deployed on two exploration wells. Core recovery in the tight and fractured carbonate reservoirs was 100% for each job and the cores will yield the petrophysical […]
Shares in DNO were up as much as 9.3% on Monday, their highest level since July, before closing up 2.6% at 6.57. Bloomberg says the rise is due to a group of minority shareholders reversing opposition to the planned merger with units of RAK, in exchange for meeting certain demands. The DNO Initiative, representing about […]
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. […]
By Gavin Jones, Director of Iraq Business News, and Partner at consultancy firm Upper Quartile. This article was originally published on the Emerging Economics blog. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The U.S. and Iraq have failed to reach an agreement on […]
Gulf Keystone has announced that the Shaikan-5 appraisal well has spudded on the Shaikan block in the Kurdistan Region of Iraq on 28th October 2011. Shaikan-5 is the third deep appraisal well to be drilled on the Company's major oil discovery with independently audited gross oil-in-place volumes of between 4.9 billion barrels and 10.8 billion […]
WesternZagros Resources has received payment for its first sale of crude oil to the domestic market in the Kurdistan Region of Iraq. First oil production from the Sarqala-1 extended well test was achieved on October 18, 2011, and first lifting occurred by truck on 27th October. "Production start-up marks a new chapter in the Company's […]
Anglo-Arab Insurance Brokers (AAIB), the leading specialist insurer for Iraq Insurance, emerging and high risk countries across the Middle East and Africa, has announced the appointment of Mr Mekki R. Mustafa as its Senior Consultant in Iraq. The appointment will consolidate AAIB’s position in Iraq, where it is already the largest international insurance broker licensed […]
DNO International has announced on Monday the resumption of its share buyback program, originally announced on 10 August 2011. Between 18 August and 7 October, the Company acquired a total of 25,500,000 shares, which are currently held in treasury, pursuant to a shareholder approval to acquire up to 80,000,000 shares. "We believe that in current […]
The Missan Oil Company expects to increase output by 20 percent to 120,000 barrels a day by the end of this year The company’s Director General Ali Muarej told Boomberg that ten wells will be made operational at the Halfaya field south of Baghdad in the next two months to raise production. Total, China National […]
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th October 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,540 / $1,768, -4.5% (weekly change). The number of weekly traded shares was 19.8bn and the weekly trading volume was […]
