ShaMaran Petroleum Corp. has announced on Monday that it intends to apply for a secondary listing of its Common Shares on the First North list of the Nasdaq OMX Stock Exchange in Stockholm, Sweden. E. Ohman J:or Fondkommission AB has been engaged as the Company’s financial advisor in connection with the secondary listing. Trading on […]
Heritage Oil Plc (LSE: HOIL), an independent upstream exploration and production company with operations in Iraqi Kurdistan, has released its 2010 Annual Report & Accounts. Please click here to download a copy (6.3 MB).
DNO released its final audited 2010 Annual Report on Friday. DNO's financial results are unchanged from what was presented to the market as the preliminary financial results on 17 February 2011. In 2010 the Company delivered revenues of NOK 1,252 million and an operating profit of NOK 157 million. The EBITDA in 2010 was NOK […]
The railway connecting Baghdad with the Syrian city of Aleppo was officially completed on Sunday, the Iraqi Transport Ministry announced. AKnews reports that the project involved constructing a 150 km connecting spur. The trains will travel up to 100 kilometers per hour. A spokesperson for the General Railways Company told AKnews: "The railway line between […]
The local council in Karbala [Kerbala] has granted 27 investment licences to international and Arab companies, including an Iranian company, the chairman of the Karbala council said on Monday. “All news assertions that Iranian companies control the Karbala market are baseless,” Mohammad Hamad al-Moussawi told Aswat al-Iraq news agency. “There is only one Iranian investment […]
Jordan’s Ambassador to Iraq Mohammad Taisir Masadeh last week met President Masoud Barzani, Prime Minister Barham Salih and ministers in Erbil to assess the latest developments and pave the way for a Jordanian consulate to open soon in the Kurdish capital. President Barzani and Ambassador Taisir discussed strengthening cooperation and coordination between the Kurdistan Regional […]
Members of the European Parliament this week in Erbil met the Kurdistan Region’s leadership. The head of the delegation Mr Struan Stevenson said to President Barzani that Iraq and Kurdistan could provide a model in the Middle East of how challenges can be solved through democracy. When meeting President Barzani, Mr Stevenson said that his […]
The fourth round of oil licensing should be postponed, the chairman of the Oil and Energy Parliamentary Committee said on Sunday, according to a report from AKnews. The committee has made a formal request to the Ministry of Oil asking them to delay the awarding of licences. Chairman Adnan al-Janabi, told AKnews that the fact […]
The Oil and Energy Parliamentary Committee will discuss the controversial oil contracts awarded by the Kurdistan Regional Government (KRG) in Iraq amid objections from the Federal Oil Ministry, it was announced on Monday. The contracts were awarded in 2009 by the KRG, but were never officially recognized by the central government in Iraq, who said […]
Reuters reports that Norwegian oil company DNO said it had resolved a long dispute over former U.S. diplomat Peter Galbraith's middle-man role in a 2004 Iraqi oil deal by paying damages and legal costs as high as $92 million. That compares to the $55 to $75 million in damages DNO estimated last October it would […]
Hungary is keen to improve trade and relations with Iraq, and along with the re-opening of its embassy in Baghdad it plans to open a consulate in Erbil. The announcement came on Sunday after a meeting between Hungary's deputy foreign minister, its Ambassador to Iraq, and the Chairman of Kurdistan's department of External Relations. According […]
The following article was written by Anahit Khatchikian and Roni Alasor, and published by Ararat News -- it is reproduced here with their permission. The opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. On economic level Federal Kurdistan Region (Iraq) has been compared by Western […]
