Lafarge Iraq Cement Sales Rebound
By John Lee. French cement maker Lafarge has written down 385 million euros of assets, mostly in Syria and Iraq. Volume sales were hit by the limited ability to transport cement in Iraq in the second half of the year. Bloomberg, however, quotes Chief Executive Officer Bruno Lafont (pictured) as saying that cement sales in […]
Shares in APR Rise on Basra Contract
By John Lee. Shares in APR Energy were up 3 percent on Wednesday morning after the company announced that it has signed a contract renewal for its power generation contract in Iraq, taking the term through the end of 2015. The power plant has been in operation since 2012 and comprises six GE TM2500 mobile […]
NI Firm Wins First Business in Kurdistan
Northern Ireland-based Lignum Interiors, a joinery business specialising in bespoke furniture particularly for high-end hotels, has recently secured a six figure contract in Northern Iraq. The company is fitting out a luxury apartment complex in Northern Iraq and secured the deal with advice and networking assistance from Invest Northern Ireland. This support helped the company […]
A Brave New Iraq
By Madeleine White, capacity building specialist and Editor-in-Chief of nina-iraq.com This article was original published by Nina Magazine, (www.nina-iraq.com) and is republished here with their permission. A Brave New Iraq – a Moment in Time with Mais Abousy Mais Abousy, an Iraqi-born US citizen and Attorney-Advisor to the U.S. Department of Commerce, shares some universal […]
Foreign Min Receives US Senator Croker
Foreign Minister, Dr. Ibrahim Al Jaafari, received on February 17, 2015 Chairman of the U.S. Senates' Foreign Relations Committee, Senator Bob Croker, and his accompanying delegation. The two sides discussed the political and security status in Iraq and the international efforts to support Iraq in its war against the terrorist Islamic State (IS) gangs. Jaafari […]
Currency Auction Results, 18th Feb
By John Lee. The Central Bank of Iraq (CBI) has reported that 24 banks took part in its currency auction on Wednesday. A total of $78,426,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Concern Grows over Unregulated Shiite Forces
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The popular mobilization forces have been widely controversial in Iraq since their inception in June 2014. Public opinion has focused on the legitimacy of these irregular forces, their activities and the possible illegal killings committed […]
Weekly Security Update, 10 - 16 February 2015
National Overview Financial challenges threaten to derail Baghdad-Erbil oil agreement as militants open new fronts in Anbar and the Northern provinces. High level negotiations on the implementation of the December 2014 Federal-Kurdistan Regional Government (KRG) budget ended in acrimony this week, as Kurdish officials denounced what they described as an attempt by the Baghdad authorities […]
ShaMaran Announces Successful Testing of Atrush-3
By John Lee. ShaMaran Petroleum has announced positive test results from the Atrush-3 well in the eastern part of the Atrush structure (Atrush Phase 2 appraisal area) in the Kurdistan Region of Iraq. Following the testing of the Chiya Khere-6 ("CK-6") Phase 2 area appraisal well announced in January 2015, the drilling rig was skidded […]
Fugro Wins Contract Extension by BGC
Fugro has been awarded a three year contract extension by Basra Gas Company (BGC). The contract covers the provision of topographic and geotechnical services in the Basrah province of Southern Iraq, as well as bathymetric surveys and metocean services. Since being awarded the contract in March 2014, Fugro has provided geotechnical and topographical survey investigation […]
Dragon Oil Updates on Operations
By John Lee. In its 2014 Full-Year Results, Dragon Oil gave the following update on its operations in Iraqi Kurdistan: On 10 September 2014, the partners in Block 9 in Iraq, Dragon Oil (30%) and Kuwait Energy (70% and operator), announced their first oil discovery at the consortium's first target, the Mishrif formation, reached at […]
PM Dismisses Mayor of Baghdad
By John Lee. All Iraq News (AIN) has reported that Prime Minister Haider al-Abadi has dismissed the Acting Mayor of Baghdad, Naeem Aboub [Naeem Abaob al-Kaabi] (pictured). An official from the Higher Education Ministry has replaced him as Acting Mayor. (Source: AIN)