Genel to Resume Drilling at Taq Taq
By John Lee. Genel Energy (GENL.L) will resume drilling at its Taq Taq oilfield in the coming weeks. Genel CFO Ben Monaghan told Reuters that the restart of drilling work will mark the first time in more than a year that Genel has drilled in the region. "It's a symbolic restart of our investments," he added. […]
Germany to Lend Iraq $566m
By John Lee. Germany has agreed to lend 500 million-euros ($566 million) to Iraq to help rebuild the country's infrastructure. At a meeting with Iraqi Prime Minister Haider al-Abadi in Berlin, Chancellor Angela Merkel said Germany also wants to help with the demining of cities and towns in Iraq so that the country's 3 million internally […]
Iraq to Load Less Basra Crude in March
By John Lee. Iraq expects to load less Basra crude in March than in February, according to a report from Reuters. A preliminary loading programme for March shows exports of 3.38 million bpd from the southern terminals, down 6.9 percent from the 3.63 million bpd planned for February. February exports, if achieved, could exceed the […]
Video: Kurdistan is 'Part of Iraq' - Abadi
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi premier Haider al-Abadi urges Kurdistan to drop any plans for independence, criticising a proposed statehood referendum.
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 on Thursday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Fighter aircraft conducted […]
Currency Auction Results, 11th Feb
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 19 remittance companies took part in its currency auction on Thursday. A total of $130,183,718 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
AMAR's Trauma Therapy Training Begins
Thanks to the incredible support our Escaping Darkness Appeal has received, mental health care training has now officially started in Dohuk! Focusing on conflict-related trauma, the training is helping to boost the response to Iraq’s mental health care crisis. Thousands of Iraqis are suffering from complex conflict-related trauma, and rates of depression, anxiety and […]
DNO 'Laying Foundation for More Investments in KRI'
DNO ASA, the Norwegian oil and gas operator, today reported record oil and gas output in 2015 though the company's results were impacted by the sharp drop in world oil prices. Operated production was up 23 percent last year to 144,200 barrels of oil equivalent per day while revenues dropped to USD 187 million in […]
OIR Spokesman: Counter-ISIL Progress Continues
As Iraqi security forces make progress in the campaign to defeat the Islamic State of Iraq and the Levant, Canada’s vow this week to expand its contributions in the fight is a welcomed commitment, Operation Inherent Resolve spokesman Army Col. Steve Warren said on Wednesday. Warren noted in his weekly counter-ISIL operational update via videoconference […]
Military Strikes Target 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 on Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Fighter and remotely […]
Iraq Raises March Oil Prices
By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra and Kirkuk crude oil for March. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); […]
Shell Boss meets Oil Minister
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] met on Sunday with the CEO of Shell in Iraq, Hans Nijkamp. The meeting was attended also by Mr. Hamid Y. Salih, the deputy minister of gas, Mr. Abd Al-Mahdi Al-Ameedi the director general of the Petroleum Contracts & Licensing Directorate (PCLD), and other […]