By John Lee. Gulf Keystone Petroleum (GKP) has announced its intention to commence a share buyback programme, using the company's existing cash resources to make market purchases of Gulf Keystone common shares for a maximum consideration of US$25 million, with the first stage of that programme being initiated now to purchase Gulf Keystone shares for […]
By John Lee. Iraq's ancient city of Babylon has been designated a UNESCO World Heritage Site. Situated 85 km south of Baghdad, the property includes the ruins of the city which, between 626 and 539 BCE, was the capital of the Neo-Babylonian Empire. It includes villages and agricultural areas surrounding the ancient city. Its remains, […]
Defense Minister of Iran Brigadier General Amir Hatami called for the expansion of military and defense ties between Tehran and Baghdad, describing support for Iraq as a principled policy of the Islamic Republic. In a telephone conversation with his new Iraqi counterpart, General Hatami congratulated Najah Hassan Ali Al-Shammari on taking the post. Hailing Iraq […]
By Padraig O'Hannelly. A senior oil executive has predicted that Iraq could surpass Saudi Arabia as an oil producer. Addressing delegates at CWC's Iraq Petroleum conference in London, Majid Jafar (pictured), CEO of Sharjah-based Crescent Petroleum, said: "Iraq is hugely underexplored. We at Crescent know of 300 structures just in the Western Desert that have […]
EU adopts new €100 million assistance package to benefit refugees and local communities in Lebanon, Jordan, and Iraq The European Union (EU) – via the EU Regional Trust Fund in Response to the Syrian Crisis - adopted a €100 million new assistance package to support the resilience of refugees, internally displaced person (IDP) host communities […]
Iraq: Thousands Detained, Including Children, in Degrading Conditions Nineveh’s extremely overcrowded detention facilities are holding thousands of prisoners in Iraq, most on terrorism charges, for extended periods in conditions so degrading that they amount to ill-treatment. The authorities should ensure that prisoners are not held in inhuman conditions and that there is a clear legal […]
By John Lee. Iraq and Oman have signed a memorandum of understanding (MoU) on cooperation in the oil and gas sector. Both sides will investigate the construction of oil storage facilities in both countries, the export crude oil to Oman, and the import of oil products back into Iraq. They will also consider building a […]
By Rasha Mahmoud for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Looking to make inroads into reconstruction projects in Libya and Iraq, Cairo kicked off its annual Builders of Egypt Forum, one of the country's biggest events in the construction industry. Egyptian Prime Minister […]
High-ranking officials from Iran, Syria, and Iraq have agreed to create “a multimodal transport corridor” a part of efforts to boost trade relations between the three Muslim nations. “The three friendly and brotherly countries of Iran, Iraq, and Syria have good and growing business relations,” Iranian Deputy Minister of Roads and Urban Development Shahram Adamnejad […]
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]
By Padraig O'Hannelly. Following the increase in tensions in the Gulf region in recent weeks, two British diplomats have expressed the view that Iraq could have a positive role to play. Addressing delegates at CWC's Iraq Petroleum conference in London, the British Ambassador to Iraq, Jonathan Wilks CMG, said: "Iraq is strong enough now to […]
Official delegations from Iran and Iraq held the second meeting of a joint commission for coordination on Arvand Rud, a border river flowing in Iran’s southwestern province of Khuzestan. The Tuesday meeting was held in Tehran within the framework of an agreement signed by the heads of the two states. The meeting was co-chaired by […]
