Controversy Surrounds Alleged Iraq-Iran Arms Deal
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. In a Feb. 4 interview with the semi-official Iranian Tasnim News Agency, Mohammed Majid al-Sheikh, Iraq’s ambassador to Iran, was reported to have revealed his country’s intention to strike a deal […]
Iran to Trump Iraq on Exploration Terms?
By John Lee. Bloomberg reports that Iran plans to offer international companies better oil contracts than Iraq, as it seeks long-term investment to revive its energy industry. As Iran discusses limits to its nuclear program to remove Western sanctions against its financial and energy businesses, Mehdi Hosseini, of the Iranian oil ministry, said it is […]
India Buys more Iraqi Oil
By John Lee. India's Hindustan Petroleum (HPCL) aims to increase crude imports from Iraq by 8 percent to about 65,000 bpd in the year to the end of March 2015, as it takes up better terms offered by Baghdad. The company's director of refineries, B. K. Namdeo, told Reuters that Iraq is offering 60 days' […]
UN Concerned about Fallujah
UN Envoy Concerned about Deteriorating Situation in Fallujah, Calls for Unity and Political Engagement Since the beginning of the fighting in Anbar Province over 63,000 families have been registered as internally displaced. Although many have fled to other parts of the country, including Karbala, Baghdad and Erbil provinces, others have sought safety in outlying communities […]
UK in Kurdistan Business Forum
The UK's Middle East Association (MEA) and British Expertise, in co-operation with the Kurdistan Regional Government UK Representation, cordially invite you to the 'UK in Kurdistan Business Forum' at the Erbil International Hotel, Ballroom, on Sunday 23rd February at 11am. The event will be a mini-trade fair focusing on the unique commercial offer the UK […]
Oil Find Declared Commercial, Shares Fall
Shares in WesternZagros Resources fell 12 percent on Thursday following the announcement that it has completed a revised resources assessment of its Kurdamir Oligocene reservoir in the Kurdistan Region of Iraq and there are no material changes. On the Garmian Block, declaration of commerciality has been filed, the Baram-1 exploration well has discovered light oil, […]
IBN - Making Your Job Easier
We all know that there are risks to doing business in Iraq, but there are also tremendous opportunities, and in this week's newsletter you can read many examples of companies seizing these opportunities and contributing to the much-needed redevelopment of the country. To keep you informed of new opportunities that might be of interest to […]
Containerised Cargo using Shatt Al Arab
NAWAH Port Management (NPM), a business unit of North America Western Asia Holdings (NAWAH), has completed the offloading of the third container vessel running weekly service between the United Arab Emirates and the company’s container terminal at Al Maqal Port in urban Basra. Historic Al Maqal Port, also known as the Port of Basra and […]
Capital Banking Solutions to Supply Sumer Bank
Capital Banking Solutions, a provider of end-to-end banking software for retail, corporate, private and Islamic banks, has announced that Sumer Commercial Bank has selected CapitalBanker as its core banking system to be implemented in over 10 branches throughout 2014. With Sumer Commercial Bank as the 5th Iraqi bank to sign with Capital Banking Solutions, Capital […]
Commercial Law Development Program
US Embassy officers have participated in the Commerical Law Development Program’s (CLDP) Vis Moot Court program at the Al-Rasheed Hotel. On the margins of the moot court training, Embassy officers offered guidance and encouragement to law students as they prepare for upcoming competitions in Qatar and the final rounds in Vienna, Austria. The Embassy’s EducationUSA […]
Italian Business Delegation Visits KRG
The Italian Consul in Erbil, Mr Carmelo Ficarra, has met the Head of the KRG Department of Foreign Relations, Minister Falah Mustafa, and was accompanied by a large delegation of Italian businessmen. The delegation included representatives from companies already working in Kurdistan and others planning on working here in the near future. Minister Mustafa welcomed […]
Oryx Declares Demir Dagh "Commercial"
Oryx Petroleum has announced that it has determined that the Demir Dagh 2 well discovery is a Commercial Discovery pursuant to the terms of the Erbil Production Sharing Contract. Oryx Petroleum is currently undertaking an extensive appraisal program in relation to the full Demir Dagh field, and will continue to undertake such appraisal activities through […]