Cyprus to Open Office in Erbil
Minister for Foreign Affairs of the Republic of Cyprus, Ioannis Kasoulides, received Minister Falah Mustafa on Thursday to discuss bilateral ties between the Kurdistan Region and the Republic of Cyprus as well as latest developments in the wider region. In welcoming Minister Mustafa and his accompanying delegation, Foreign Minister Kasoulides said, “We are determined to […]
Profile: Qassem Suleimani
Iraqi army and militia forces are fighting to take back Tikrit from the so-called Islamic State. Pulling the strings on the Iraqi side is an Iranian: Major-General Qassem Suleimani, the 'shadow commander' who has been described as the single most powerful operative in the Middle East. As the leader of the foreign branch of Iran's […]
EarthLink chooses Level 3
Level 3 Communications has announced it has been selected by internet and communication solutions provider, EarthLink Telecommunications -- the largest Internet Service Provider in Iraq -- to provide the secure global connectivity needed to support enterprise customers from EarthLink's Middle East location. EarthLink's 400-plus points of presence enable its customers to communicate in its local market. Yet the company faced the challenge […]
Turkey Confirms Iraqi Oil Exports Worth $3bn
By John Lee. Turkish Energy Minister Taner Yildiz (pictured) said on Thursday that oil shipments from Iraq via Turkey now amount to 47 million barrels since the beginning of last. He told a news conference that 57 tankers have loaded Iraqi crude at Ceyhan, bringing revenues of $3 billion (3.6 trillion Iraqi dinars). (Source: Reuters)
Copperchase Wins Hyundai Contract
By John Lee. UK-based Copperchase has won a $6 million (7.2 billion Iraqi dinar) contract with Hyundai Engineering & Construction to build a new security fence at Karbala oil refinery. The company used a £200,000 loan from the Tees Valley Catalyst Fund loan, which is managed by FW Capital, to secure the performance bond it […]
Iraq Accepts Int'l Support Against IS
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Some Shiite circles in Iraq are unhappy about the US role in the war against the Islamic State (IS), and some politicians are saying that Washington is offering aid to IS […]
Why Army is Stuck on Outskirts of Tikrit
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The offensive to re-take Tikrit from extremists seems to have stalled as troops surround the city but cannot go further. The same thing is happening elsewhere. And there are three […]
Genel Completes $230m Bond Issue
By John Lee. Genel Energy has announced that it has priced an issue of U.S. $230 million in senior unsecured bonds due 14 May 2019 on the same commercial terms as the existing GENEL01 PRO U.S. $500 million bond. The Bonds were issued at a market price in line with the trading level of GENEL01 […]
€114m Write-Off Expected at Petroceltic
By John Lee. Analysts expect Dublin-based Petroceltic International to incur a write-off of just under €114 million ($125 million; 146 billion Iraqi dinars) as a result of abandoning its operations in Iraqi Kurdistan. According to a report from the Irish Independent, it is also expected to take a cash cost hit of about €6.4 million ($7 […]
PM Barzani: Shiite Militias should be Regulated
By Amberin Zaman for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. As the battle grinds on against the Islamic State — also known as IS, ISIL and Daesh — there is growing concern about the mounting influence of Iran and Shiite militias known […]
Video: Reconstruction Underway in Salaheddin
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Reconstruction is underway in Salahaddin province, following the destruction brought about by Islamic State (IS, ISIS, ISIL) forces:
Hess, Petroceltic Abandon Dinarta Licence
By John Lee. Irish-based Petroceltic International has announced that it and its partner Hess will abandon their Dinarta licence in the Kurdistan Region of Iraq. The company told the stock market: "As previously announced on 15 January, drilling operations on the Shireen-1 exploration well in the Dinarta licence (Hess ... (Operator) 64%, Petroceltic 16%, and […]