DNO Confirms KRG Tawke Payment
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 13.46 million from the Kurdistan Regional Government for February crude oil deliveries to the export and local markets from the Tawke field under the payment arrangement announced earlier this year. The funds, to be shared pro-rata by DNO and partner Genel Energy […]
GKP Shaikan Payment Update
By John Lee. Gulf Keystone Petroleum (GKP) has announced that a gross payment of $7.5 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil exports in February 2016. This gross payment comprises the Company's monthly contractual revenue entitlement under the Shaikan Production Sharing Contract for crude oil exports in February […]
Genel Energy Receives Payment for Taq Taq
By John Lee. Genel Energy plc has announced that the Taq Taq field partners have received a gross payment of $12.6 million from the Kurdistan Regional Government ('KRG') for oil sales during February 2016. Genel's share of the gross Taq Taq payment is $6.9 million. As agreed with the KRG, sales into the local market […]
Military Strikes Hit ISIL Terrorists in Syria, Iraq
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack and fighter aircraft […]
Iraq Exports First Shipment of Natural Gas
By John Lee. Iraq exported its first shipment of natural gas on Sunday. Oil Ministry spokesman Assem Jihad said a cargo of about 10,000 standard cubic feet of gas, in the form of condensates, left the port of Umm Qasr. He declined to name the buyer, but Oil and Gas Year cites sources as saying […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th Mar 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD891 (+7.4%) / $903 (+6.1%) (weekly change) (-18.3% and -21.2% YTD change, respectively). The number of week traded […]
KRG "wants to Reach Amicable Agreement with Baghdad"
By John Lee. Kurdistan Region President Masoud Barzani (pictured) has said he wants to reach an amicable agreement with Baghdad, but stressed that Kurds will "not accept to be subordinates". In his address on the occasion of Newroz, the Kurdish New Year, the President said: “We have two options before us: either we forget the […]
Strikes Hit ISIL in Iraq
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported on Sunday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Iraq Rocket artillery, attack, fighter and […]
Video: Is Muqtada al-Sadr fueling Shia Infighting?
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's Shia cleric Muqtada al Sadr is putting pressure on Prime Minister Haider al-Abadi to carry out reforms to fight corruption. Sadr has managed to rally a huge number of angry Iraqi protesters […]
Currency Auction Results, 20th Mar
By John Lee. The Central Bank of Iraq (CBI) has reported that 22 banks and 19 remittance companies took part in its currency auction on Sunday. A total of $77,067,600 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
The Future of Iraq’s Armed Forces
By John Lee. In a new report published for the Al-Bayan Center for Planning and Studies, Dr Michael Knights, Lafer Fellow at the Washington Institute for Near East Policy, argues that those who say that there is no longer any such thing as the Iraqi security forces (ISF) are fully aware the line they are […]
Race to Reach People Fleeing areas West of Ramadi
Humanitarian partners race to reach people fleeing Heet and areas west of Ramadi Humanitarian partners are rushing to provide emergency assistance to an estimated 35,000 people who have been newly displaced in hard-to-reach areas west of Ramadi. Lise Grande (pictured), the UN’s Humanitarian Coordinator said, “Thousands of people who have been trapped in Heet for […]