Government Still Holds Baiji Refinery
By John Lee. It has been the site of a dramatic siege since the June offensive of the Islamic State of Iraq and the Levant (ISIL) which seized large swathes of northern Iraq. Baiji refinery was vital for refined fuel products for much of the north of the country, and initially the Iraqi army unit […]
New Investment Agreement with Belarus
The Minister of Foreign Affairs, Hoshyar Zebari, recently received Vladimir McKay, Minister of Foreign Affairs of the Republic of Belarus, at the headquarters of the Ministry of Foreign Affairs. During the meeting, they discussed bilateral relations between the two countries and the importance of expanding the horizons of cooperation in all fields in the forefront […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st August 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,523 (+4.9%)/ $1,631 (5.3%) (weekly change) (-18.4% and -17.9% YTD change, respectively). The number of week traded shares […]
Premier Oil to Drill Block 12 in 2016/17
By John Lee. In its half-yearly results, Premier Oil gave the following update on its operations in Iraq: "In Iraq, work continues onshore Block 12, in which Premier was awarded a non-operated 30 per cent interest in November 2012. Block 12 is an 8,000 square kilometre block in the foreland of the Zagros fold belt, […]
Talisman to Sell Kurdamir Stake
By John Lee. Talisman Energy has said that it still plans to sell its oil properties in Iraqi Kurdistan, despite the recent declaration that its Kurdamir Block was commerical. Reuters reports that the Calgary-based company plans to look for buyers for its Kurdistan assets as it continues restructuring to cut debt and boost its flagging […]
CBI Currency Auction Results, 24th Aug
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks took part in its currency auction on Sunday. A total of $227,144,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Kurdamir Block Declared Commercial
By John Lee. WesternZagros Resources and its co-venturer, Talisman, have submitted a Declaration of Commercial Discovery ("DoC") to the Kurdistan Regional Government ("KRG") for the oil and gas discovery in the Kurdamir Block. A phased development plan, outlining future production wells, facilities and supporting infrastructure, is under preparation for submission to the KRG. Simon Hatfield […]
Charity Chairman Visits Front Line
The Chairman of the British-based AMAR International Charitable Foundation, Baroness (Emma) Nicholson of Winterbourne, met the man commanding Peshmerga forces in the Kurdish region of Iraq on Friday and was given a full briefing on the latest situation on the battle against ISIS. Baroness Nicholson has flown into Erbil to meet AMAR’s medical teams treating […]
UN Calls for Immediate Action on Amerli
The Special Representative of the United Nations Secretary-General for Iraq (SRSG), Mr. Nickolay Mladenov, is seriously alarmed by reports regarding the inhuman conditions of the inhabitants of the northern town of Amerli, besieged and cut off from food and water supplies by the Islamic State of Iraq and the Levant (ISIL) armed group for almost […]
Video: Militia wants Help from US
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's Mahdi Army fought US troops to the death in past years, but now some members of the rebranded Shiite militia say they could do with a little help from their old foe:
Video: Islamic State Shifts Tactics
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. In Northern Iraq, US airstrikes have hit targets held by the Islamic State group near Mosul Dam. But well-armed Islamic State fighters appear to be changing tactics slowing down the gains made by […]
Kurdish Oil Export Figures on the Rise
By Patrick Schmidt. The Kurdish Minister of Natural Resources, Ashti Hawrami (pictured) announced that the Kurdistan Regional Government (KRG) has sold 7 million barrels of oil on the international market. He remains confident that the KRG will win the ability to sell oil in the US markets. Currently, the KRG produces 300,000 barrels of oil per […]