Lukoil will not Reduce Oil Output in Iraq in 2016-2017
By John Lee. Russia's Lukoil has said it has no plans to cut oil production in Iraq in 2016-2017. Company President Vagit Alekperov (pictured) told reporters: “No, not yet. So far, we have not received such recommendations from the Government of Iraq.” (Source: Tass)
Genel Energy completes 3rd Well at Taq Taq
Genel Energy has issued the following update in respect of the Taq Taq field (Genel 44% working interest): The third and final well of the 2016 Taq Taq drilling programme, TT-16y, has been successfully drilled and completed in the main Shiranish reservoir. The well is naturally flowing at c.8,000 bopd. Gross Taq Taq production is […]
Baroness Nicholson – Opening Speech at IBBC Conference
Baroness Nicholson – Opening Speech for the Iraq Britain Business Council (IBBC) Conference on December 18th in Dubai: Welcome to Dubai. IBBC has been aware for many years of the important role that the UAE plays as a regional hub for business and trade through the MENA region and in particular as a regional base […]
Blue Sky Energy to Study Salahadin Field
By John Lee. Canadian independent oil company Blue Sky Energy Inc. has announced that it has commissioned an independent resource evaluation report that summarizes and updates resource volumes on its first prospect, the North Salah ad Din field, which it describes as "a historical discovery within its license area recently acquired in Iraq". According to […]
Military Strikes Continue Against ISIL Terrorists in Syria, Iraq
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq on Wednesday, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, bomber, fighter […]
Video: Iraq Forces Dismantle Security Checkpoint in Baghdad
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi forces dismantle a security checkpoint in the capital following a decision to reduce the number of these checkpoints by more than 25 in east Baghdad in an attempt to ease traffic.
World Bank Supports Iraq with $1.5bn Package
New US$1.485 Billion Package to Support Iraq’s Drive to Counter Cost of War, Low Oil Prices The World Bank Group has endorsed a new US$1.485 billion package to support reforms to improve public service delivery and transparency, stimulate private sector growth and support job creation. Iraq continues to face a large humanitarian crisis with 10 […]
Zebari loses Appeal against Removal as Finance Minister
By John Lee. Iraq’s former Finance Minister Hoshyar Zebari has lost an appeal at the country's federal court against his removal as minister by the parliament. Rudaw reports that the 62-year-old former minister lost his appeal 6 to 3 votes on Tuesday. The Iraqi parliament withdrew confidence from Zebari in September, in a move that […]
Zain to pay $94m to settle Iraqna Tax Case
By John Lee. Reuters reports that Zain Iraq is to pay $94 million to settle a tax case related to the 2007 acquisition of rival operator Iraqna from Egypt's Orascom Telecom. Iraq's General Commission of Taxes (GCT) claimed Zain Iraq owed $187 million in capital gains tax due on its $1.2 billion purchase of the […]
Siemens appoints New Team in Iraq
Siemens has appointed Musab Alkateeb (53) as Chief Executive Officer (CEO) of the company’s operations in Iraq, effective January 1, 2017. Alkateeb will take over from Nael Ghali, and has more than 15 years’ experience working across various sectors in Iraq including oil and gas, finance, business development, IT and trade. Thomas Schmidt (37) takes […]
Help Iraq’s Children Survive the Winter
In many countries, children dream of snow at Christmas. But in Northern Iraq, where temperatures plummet to well below zero, hundreds of thousands of displaced children wish only for warmth as they battle for survival. Please help Iraq’s children survive the winter. Just £25 ($32) could provide a family with warm winter blankets to protect […]
Coalition Targets ISIL Terrorists in Syria, Iraq
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq on Tuesday, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, bomber, fighter […]