Afren Shares Fall on Interims
By John Lee. Shares in Afren were down as much as 7 percent during the day on Tuesday, closing down 5.7 percent, as the company's earnings came in below target. In its Interim Management Statement this morning, Afren gave the following update on its Iraq operations: "On the Barda Rash block in Kurdistan, the BR-4 […]
The Governance of the Iraq Energy Sector
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Governance of the Iraq Energy Sector and the Relevance of Association with Energy Charter Treaty This is an extended abstract of PowerPoint slides and interventions I delivered during the Executive Training […]
UAE Firm "in Negotiations" on Business Park
Dubai Investments PJSC [DI] has announced that Dubai Investments International – its wholly-owned subsidiary targeting overseas expansion, is currently tapping into business opportunities in Africa and Asia. As a first step in scaling up its overseas operations, DI International is targeting investments, joint ventures and strategic partnerships across Africa and Asia, and also eyeing commercial […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th May 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,842 (-0.7%)/ $1,957 (-0.7%) (weekly change). The number of week traded shares was 21.1bn and the weekly trading […]
AM General Wins $101m Deal for Armoured Vehicles
The US State Department has made a determination approving a possible Foreign Military Sale to Iraq for M1151A1 Up-Armored High Mobility Multi-Purpose Wheeled Vehicles (HMMWVs) and associated equipment, parts, training and logistical support for an estimated cost of $101 million. The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale […]
Genel, ShaMaran Issue Bonds
By John Lee. Genel Energy has announced that it has completed its issue of $500 million of 7.5% senior unsecured bonds due 2019. Also, ShaMaran Petroleum has announced the listing on Oslo Børs of the USD 150 million senior secured bond issued by its wholly owned subsidiary, General Exploration Partners, Inc. The bonds carry a […]
Petroceltic Gives Update on Operations
By John Lee. In its Preliminary Results Announcement on Friday, Petroceltic International has issued the following update on its operations in Iraqi Kurdistan: Kurdistan - material prospects in a dynamic region Petroceltic has been active in Kurdistan since 2011 and has worked closely with the operator, Hess, to undertake a comprehensive survey and analysis and […]
Uncertain Prospects for Iraqi 'Sunni Alliance'
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 political map of the Sunni forces after the April parliamentary elections seems, at first glance, like an extension of the map before the election, in terms of the weight and influence of the forces. […]
Erbil Mission to Boost Canadian Business Opportunities
By John Lee. A newly-opened Canadian trade mission in Erbil suggests that Kurdistan is seen as a land of opportunities for Canadian firms, reports Rudaw. After 25 years of absence, Canada opened a diplomatic mission in Baghdad in April 2013, and a new trade office in Erbil last February. Lynne Yelich (pictured), Canada’s Minister of […]
Fugro wins Contract from Basra Gas Company
Fugro has been awarded a contract for one year, plus a year extension option, by Basra Gas Company (BGC) for the provision of Geotechnical Investigations and Topographic Services in the Basrah province of Southern Iraq. Fugro will provide geotechnical and topographical survey investigation services at various locations throughout the project area to support a number […]
Zain Hires Team to Lead IPO
By John Lee. Mobile operator Zain has hired Melak Investments and Rabee Securities as the leading adviser and broker to lead the initial public offering (IPO) of its shares. According to a report from The National, Melak Investments is run by the Iraq-born former Franklin Templeton asset manager Shwan Taha, who also founded Rabee Securities. Last […]
US Approves $90m Raytheon Iraq Deal
By John Lee. The State Department has made a determination approving a possible Foreign Military Sale to Iraq for Aerostats and Rapid Aerostat Initial Deployment tower systems and associated equipment, parts, training and logistical support for an estimated cost of $90 million. The Defense Security Cooperation Agency delivered the required certification notifying Congress of this […]