GKP Adopts "Diversified Marketing Strategy"
By John Lee. Gulf Keystone Petroleum (GKP), the operator of the Shaikan field in the Kurdistan Region of Iraq, confirmed on Monday that it continues to produce in excess of 40,000 barrels of oil per day following the successful completion of 'de-bottlenecking' (sic) operations at PF-1. According to a statement this morning, as a result of the continuing […]
Cutting Edge Iraqi Fashion Designer
By Lemya Ayub. This is an extract from an article originally published by Nina Iraq, and is reproduced here with permission. Melad Hamed – The Cutting Edge Fashion Designer with a Heart of Gold Melad Hamed, is well-known in Iraq and across the Arab world as the cutting edge fashion designer with a heart of […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th June 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,444 (+1.1%) / $1,475 (+3.5%) (weekly change) (+3.6% and -0.4% YTD change, respectively). The number of week traded […]
US, Coalition Continue Airstrikes Against IS
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. Officials reported details of the latest strikes, which took place between 8 a.m. Saturday and 8 a.m. Sunday, local time, noting that assessments of results […]
Austria to Provide Peshmerga with Medical Support
Austria’s Minister for Foreign Affairs, Sebastian Kurz, received Head of the Kurdistan Regional Government, KRG, Department of Foreign Relations, Minister Falah Mustafa and his accompanying delegation on Friday. During the meeting, which was attended by KRG Representative to Austria, Both sides spoke in detail of the latest military developments in the fight against ISIS, the […]
UNDP Helps IDPs Return to Tikrit
The UN Development Programme (UNDP) is working closely with authorities to support displaced people who are returning to Tikrit to rebuild their lives after the town was liberated from ISIL forces. Government sources estimate that up to 1,500 families have returned to the town, which was occupied by ISIL from June 2014 until April 2015. […]
Currency Auction Results, 29th June
By John Lee. The Central Bank of Iraq (CBI) has reported that 22 banks and 2 remittance companies took part in its currency auction on Monday. A total of $290,914,740 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
A Wild Ride for the Dinar
By Mark DeWeaver. This has been quite a year for the Iraqi dinar. From a level of IQD 1,217: USD 1 at the end of 2014, the market rate for the currency weakened steadily during the first quarter, penetrated a key support level at 1,290 in late April, and reached a low of 1,379 on […]
Iraq's Road to Counterinsurgency
By Robert Tollast. The following opinions are the authors only, and do not necessarily represent the views of Iraq Business News. This article examines Iraq’s localised and national level attempts to foster pan sectarian cooperation against ISIL, looked at in the context of previous counterinsurgency campaigns fought by Britain and the US. “Our fighting against […]
Daesh Launch Small Offensive
By Simon Kent. Al Jazeera have reported a string of violent incidents in Iraq in the past 24 hours. In Salahaddin, a suicide bomber targeted a meeting of anti ISIL Sunni Sheikhs, killing at least 18 people. ISIL and its predecessor ISI have long targeted opposing Sunnis, fearing widespread Sunni opposition in Iraq would undermine […]
Lukoil: Grade Split Helps Exports
By Simon Kent. Lukoil, the Russian energy giant with one of the biggest investments in southern Iraq at the vast West Qurna 2 oil field, have issued a statement in support of Iraq's move to split crude grades into Basra Heavy and Basra Light. Previously, different grades arrived at Basra for blending, which not only […]
Sterling Expand HSE Training
By Robert Tollast. Sterling, the international Health, Safety and Environment oil and gas and construction specialists, have expanded their HSE training site in Erbil. Sterling focus on HSE consulting, building capacity to mitigate risks and environmental hazards, as well as preventing and dealing with major incidents in construction and the energy sector. The expanded centre will […]