Military Strikes Continue Against 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 Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Iraq Attack, fighter, and remotely piloted […]
Genel Energy Shares Slump on Trading Update
By John Lee. Shares in Genel Energy were down 10 percent in early trading on Wednesday, after the company issued a trading and operations update in advance of the Company's full-year 2015 results, which are scheduled for release on 3 March 2016. Murat Özgül (pictured), Chief Executive of Genel, said: "2015 was a very challenging […]
Genel Energy Outlines 2016 Plans
By John Lee. In its trading update this morning, Genel Energy gave the following plans for its operations in Iraqi Kurdistan: The majority of planned activity and capital expenditure in the KRI is discretionary, which confers significant flexibility. The Company will leverage this flexibility and match activity to the level of cash proceeds received from […]
Iraq backs Jordanian Prince in FIFA Election
By John Lee. Reuters reports that the Iraqi Football Association (IFA) has pledged its support for Jordan's Prince Ali Bin Al Hussein (pictured) in next month's FIFA presidential election. IFA president Abdul Khaliq Masood said: "We have decided that Iraq's vote will go to Prince Ali because Prince Ali has always supported the development of […]
Amnesty claims Kurds Uprooting Arabs
By John Lee. A report this morning from Amnesty International claims that Peshmerga forces of the Kurdistan Regional Government (KRG) and Kurdish militias in northern Iraq have bulldozed, blown up and burned down thousands of homes in Arab villages. It says that although KRG officials have tended to justify the displacement of Arab communities on […]
ICRC rushes Aid to People Fleeing Ramadi
Hundreds of thousands are living under harsh conditions in the makeshift camps of Anbar, Baghdad and other provinces after fleeing fighting in and around Ramadi. The International Committee of the Red Cross (ICRC) recently delivered badly-needed food, blankets, soap and other basic necessities to over 900 people who had just fled from Ramadi to Habbaniya […]
Norway Contributes Funding for Rehabilitation
The Kingdom of Norway has contributed an additional US$2.8 million to UNDP’s Funding Facility for Immediate Stabilization (FFIS), which finances fast-track initiatives in areas liberated from the Islamic State of Iraq and the Levant (ISIL). This is the second contribution from the Kingdom of Norway in recent months, and will be dedicated to restoring livelihoods […]
Strikes Hit ISIL 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 Tuesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack and fighter […]
Long Term Service Contracts are Good But Not Perfect
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Long Term Service Contracts Are Good But Not Perfect My article on Service Contracts Vs Production Sharing Contracts Revisited, posted on this IBN website, has attracted good deal of formal and professional […]
Iran to up Oil Output at Joint Iraq Fields
By John Lee. Iran's Minister for Petroleum, Bijan Nadar Zangeneh (pictured), has revealed plans to increase production at the country’s western joint fields with Iraq by 200,000 bpd. The increase will happen over the next eight months and "surge to 700,000 bpd in the years to come", according to a report from PressTV. Iran has […]
Directorate Changes at Genel Energy
Genel Energy has announced that Sir Graham Hearne has indicated his intention to retire from the Board of Genel Energy at the 2016 AGM. In addition Genel Energy has today appointed Simon Lockett as an independent non-executive director with immediate effect. He will also become a member of the Remuneration and HSSE Committees of the […]
KRG briefs US on Impact of Economic Slowdown
‘If this financial crisis continues, it will have a great effect on the front lines. You cannot send your fighters with empty stomachs to the fight,’ Dr Fuad Hussein told a group of journalists from American media outlets on Friday morning. He added, ‘We need support and help. We are [in Washington] to explain this […]