Petroceltic: KRG Operations Update
By John Lee. Multinational oil and gas exploration and production firm Petroceltic International have announced an update for their ongoing operations in the Kurdish region of Iraq. They note that some precautions are being taken and the current crisis is being closely watched. The company also have operations across the Middle East-North Africa region (MENA) […]
Situation complex as Maliki digs in
By John Lee. On Sunday at midnight, Iraq's embattled PM Nouri al-Maliki issued a defiant speech claiming his constitutional right to remain at the helm of his crisis hit country. Tellingly, he warned his political foes they were effectively with the terrorists, and the speech was described by one Iraq analyst on twitter as akin […]
KRG Forces Push Back ISIS
By John Lee. As Barack Obama pledges to send more security assistance, including arms, advisers and possibly more air strikes to the KRG, The Wall Street Journal has reported renewed confidence displayed by KRG aligned forces. The famed Kurdish Peshmerga, no strangers to combat having once resisted Saddam's forces, have reportedly re-taken the villages of Gwair (north […]
KRG Calls for Increased Oil Production
The KRG's Ministry of Natural Resources has said it attaches the highest priority to the safety and security of all oil industry workers and their operations in the Kurdistan Region. MNR remains in constant contact with KRG security forces regarding the deterioration of security on the Region’s borders and it continues to share all relevant […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 7th August 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,339(-9.0%)/ $1,428(-9.4%) (weekly change) (-28.2% and -28.1% YTD change, respectively). The number of week traded shares was 13.5bn […]
Maliki Warns Sistani on Third Term
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. On July 25, the official website of Grand Ayatollah Ali Sistani posted an article reporting that Sistani has called on Iraqi officials not to cling to their positions, alluding to the insistence of Iraqi Prime […]
US Airstrikes Alone will not Defeat IS
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The United States has finally decided that Iraq's security and humanitarian situations require immediate military intervention. US President Barack Obama's Aug. 7 speech consolidated this decision and spelled out the US mission on two levels: […]
Turkey Vows Support for KRG
By Patrick M Schmidt. Senior Officials in the Turkish ruling party announced that the country would do everything it could to ensure the security of the Kurdistan Regional Government (KRG). The announcement follows reports of Turkish fighter jets on patrol over the region. “As a strategic neighbor the stability and security of the Kurdistan Region […]
Etihad Reroutes Flights and Modifies Schedule
By Patrick M Schmidt. In the wake of other airlines and the American Federal Aviation Administration’s (FAA) ban for American commercial airlines, Abu Dhabi based airline, Etihad Airways, has announced that they will redirect their aircraft around Iraqi airspace. The airline has cancelled all flights to Erbil, but will maintain its current flight operations to […]
Oryx and Others Remove Staff from Iraq
By Patrick M Schmidt. As the United States begun strikes against Islamic State of Iraq and the Levant (ISIL) militants, Canadian oil firm, Oryx, began evacuations of staff from their facilities in the Kurdistan region. The company announced that portion of its Demir Dagh oil field had been shut down. Drilling and other operations continued […]
FAA Bans American Flights from Iraqi Airspace
By Patrick M Schmidt. Following the announcement of targeted strikes against Islamic State of Iraq and the Levant (ISIL) militants, the Federal Aviation Administration (FAA) declared that American airlines could no longer transit through Iraqi airspace. This statements comes following other individual airlines rerouting their flights around Iraq. The FAA had previously mandated that American […]
Video: Political Situation Fragile in Iraq
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Many analysts blame months of political instability across Iraq for the current crisis facing the government. The combination of the rise of the Islamic State group, Kurdish opposition and weakening support from Iran […]