Video: Refugees Prepare for Harsh Winter
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Fighting in Iraq has displaced nearly two million people as the Islamic State of Iraq and the Levant (ISIL) continue their offensive across much of the country. With half of all refugees seeking […]
Currency Auction Results, 3rd Nov
By John Lee. The Central Bank of Iraq (CBI) has reported that 17 banks took part in its currency auction on Monday. A total of $205,334,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Petrofac Wins New Iraq Business
By John Lee. Petrofac has secured a second contract extension from South Oil Company (SOC) for support on its Iraq Crude Oil Expansion Project. The 12-month extension, worth around US$106 million, comes into effect in December and brings the total value of the contract to more than US$300 million since it was first awarded in […]
Oryx Updates on Demir Dagh
By John Lee. Oryx Petroleum has announced an appraisal drilling update for the Demir Dagh field in the Hawler license area in the Kurdistan Region of Iraq, including test results for the Demir Dagh-7 and Demir Dagh-8 appraisal wells (“DD-7” and “DD-8”, respectively). Oryx Petroleum is the operator and has a 65% participating and working […]
Will Iraq’s Shiites Secede?
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After the Rise of ISIS, Will Iraq’s Shiites Secede? As Iraqi Shiites celebrate the […]
Video: Syrian Kurds face Uncertain Future
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Syrian Kurds are continuing to stream into Kurdish areas of northern Iraq, as the Islamic State of Iraq and the Levant (ISIL) continues its offensive across much of Syria. Hundreds of Syrian Kurds […]
Currency Auction Results, 30th Oct
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Thursday. A total of $196,701,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Shares in GKP Jump Again on Iraq Update
By John Lee. Shares in Gulf Keystone Petroleum (GKP) gained another 19 percent on Thursday morning, following approval of its Field Development Plan (FDP) for Akri-Bijeel, in which it holds a 20 percent working interest. The FDP is based on these two discovery areas, i.e. Bijell area and the Bakrman area. The development will be done […]
Afren Falls on Management Statement
By John Lee. Shares in oil explorer Afren fell by more than 5 percent on Thursday morning as the company's output failed to meet expectations due to installation delays, repair work and adverse weather. In its Interim Management Statement, the company gave the following update on its operations in Iraq: "On 2 October 2014, Afren […]
GKP Shares Rally on Announcement
By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed 14 percent higher on Wednesday following the company's announcement that it is to reschedule its Interim Management Statement. The shares had been up as much as 30 percent in the afternoon, on expectations of positive news to follow. The company statement said: "As a result […]
Road Projects Inaugurated in Najaf
By John Lee. Aswat Al Iraq reports that Iraq's Minister of Reconstruction and Housing, Tariq al-Khikani], has inaugurated two road projects in Najaf and laid the cornerstone for another two. The first road project is 26 km long, with a cost of 2.73 billion Iraqi dinars; the second is 27.15 km at a cost of […]
Belarus to Boost Cooperation with Iraq
By John Lee. A senior official from Belarus has said his country wants to dramatically expand cooperation with Iraq. Vladimir Andreichenko (pictured), Chairman of the House of Representatives of the National Assembly of Belarus, met with the Iraqi Ambassador, Haidar Hadi on Wednesday; following the meeting he said: “Belarus greatly values the friendly relations between […]