Shell's First Crude from Majnoon
Shell announced today that the Majnoon oilfield it operates in partnership with South Oil Company (SOC), Petronas and Missan Oil in Southern Iraq has successfully exported its first shipment of crude oil to Shell trading, a significant milestone for the oilfield. The achievement comes as production at the Majnoon oilfield has reached a current average […]
GKP Investors Relax
By John Lee. The Telegraph reports that an encouraging update on its fund-raising plans provided some much needed cheer for Gulf Keystone Petroleum (GKP) on the stock market. The Kurdistan-focused oil producer had slumped in recent weeks, amid speculation that the company’s key bond sale was running into trouble. The company announced last month that […]
Dragon Oil Spuds Iraqi Well
By John Lee. Dubai's Dragon Oil reports that it has spudded an exploration well using a drilling rig from the Iraqi Drilling Company. The well is targeting two prospective reservoirs, and testing is expected to take place in 2H 2014. The consortium consists of Dragon Oil (30 percent) and Kuwait Energy Corporation (70 percent and […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd April 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,822 (+0.5%)/ $1,942 (+0.8%) (weekly change). The number of week traded shares was 21.2bn and the weekly trading […]
Jumping Ship? Defections Ahead of the Elections
By Reidar Visser. 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. Jumping Ship? Defections from Maliki ahead of the Iraqi Parliamentary Elections […]
First Mass Vaccination Since Polio Found in Iraq
Polio vaccination campaigns commenced in Syria, Iraq and Egypt today, aiming to reach more than 20 million children over the next five days. For Iraq, this will be the first nationwide vaccination campaign since a case of polio was confirmed by the Ministry of Health on 30 March in a six-month-old boy from Rusafa, northern […]
Weekly Security Update 01 - 07 Apr 2014
By Constellis Consulting www.constellis-consulting.com Despite reasserting his retirement from politics on 02 April, Muqtada al-Sadr publicly urged Maliki not to run for a third term, citing the failure of his sectarian policies and the increasingly autocratic nature of the regime. As the parliamentary elections approach, each party seems to be appealing to their own sectarian base, with […]
Lucky Cement Starts Production in Iraq
By John Lee. Pakistan's Lucky Cement has started production in Iraq from February of this year, in a 50/50 joint venture with the Al-Shawy family. The company's CEO, Muhammad Ali Tabba (pictured), told Dawn that a total of $40 million has been invested in the grinding mill in Basra, which has a capacity of 3,000 […]
Petroceltic Abandons Shakrok-1, Shares Slump
By John Lee. Shares in Irish independent oil and gas exploration company Petroceltic International closed down 9.6 percent on Monday, following the company's update on its operations in the Kurdistan Region of Iraq. On the Shakrok licence (Petroceltic 16%, Hess (Operator) 64% and Kurdistan Regional Government 20%), the Shakrok-1 well reached its total depth of […]
Kurdistan Minister Meets German Think Tank
The Head of the KRG's Department of Foreign Relations, Minister Falah Mustafa, and Assistant Head of the DFR, Ms. Siham Jabali, met with the Director of the German Institute for International and Security Affairs (SWP), Dr. Volker Perth, to brief him on KRG foreign and domestic policy and the current political developments in Kurdistan, Iraq, […]
Full List of Election Candidates
By Reidar Visser. 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. The Iraqi election campaign formally began Tuesday, but the official candidate […]
Hanwha Gets $511m Advance Payment
By John Lee. South Korea's Hanwha Engineering and Construction has said that it has received an additional $511 million in advance payment for its Bismayah New City Project (BNCP), located 10 kilometers southeast of Baghdad. According to a report from Yonhap News, this brings the amount of money the builder has received so far for […]