Sinopec is Dealt a Setback in Iraq
By John Lee. China Petrochemical Corporation, also known as Sinopec, is still unable to participate in projects in central and southern Iraq four years after it acquired a project in northern Kurdistan, reports the Wall Street Journal. The company held talks with Russia's Lukoil about jointly developing the West Qurna-2 oil field, but Lukoil's chief […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th October 2013). Note: ISX will be closed starting from October 14, 2013 (Monday) due to Eid al-Adha Holiday. The next trading session will be held on October 20, 2013 (Sunday). Please click here to download a table of listed companies and their […]
Faruk Group, Acibadem Sign Medical City Deal
A cooperation agreement has been signed with the Acıbadem Healthcare Group towards the management and operations of the Medical City complex, established by the Faruk Group to provide modern healthcare services. As per the agreement made by Faruk Mustafa Rasool, Chairman of the Board of Faruk Group, and Mr Mehmet Ali Aydınlar, Chairman of the […]
Kurd Leader Says there is Fear of Civil War
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The leader of Iraqi Kurdistan says there is "real fear" that sectarian violence in Iraq could escalate into civil war. The autonomous region's president Massud Barzani was talking to AFP in an exclusive interview:
DNO Sets New Record at Tawke
By John Lee. DNO International has announced today that it has initiated sales from its second horizontal well in the Tawke field in the Kurdistan region of Iraq following testing at a new record rate of 32,500 barrels of oil per day. Each of ten independent fracture corridors penetrated by a 930-meter horizontal section in […]
Unaoil joins Leighton in Denying Iraq Allegations
By John Lee. The Australian reports that the company at the centre of the Leighton Holdings bribery allegations has denied any involvement in corruption in Iraq, or having links to the Oil Minister and Prime Minister. Unaoil, which is based in Monaco, was alleged to have been paid kickbacks by Leighton to secure an oil […]
Canada to Open Embassy Office in Erbil
The new Canadian Ambassador to Iraq and Jordan, Mr Bruno Saccomani, said his country has a six-month plan to strengthen ties with the Kurdistan Region and aims to open an embassy office in Erbil next year. In his meeting with President Masoud Barzani, Ambassador Saccomani announced plans to considerably increase bilateral ties between both sides. […]
Ministry of Culture Curtails Performing Arts
By Ali Abdulameer for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The activities that have begun to move forward in the Iraqi cultural scene continue to be afflicted by the woes inherent in a complete reliance on the government, as was the case […]
Assassins Target Journalists in Mosul
By Sami Waheed Karim. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Anti-Media Extremism: Team of Assassins Targets Journalists in Mosul Extremists are targeting journalists in the troubled state of Ninawa. After killing the governor’s spokesperson and […]
Swiss Firm to Build $6bn Refinery
By John Lee. Prime Minister Nouri al-Maliki says Iraq has signed a $6 billion deal with Swiss company Satarem to build and run southern Iraq's first new, large-scale refinery in 30 years. The oompany will set up the 150,000 barrel-per-day refinery near Amara, in Missan [Maysan] province, on a 50-year build-own-operate (BOO) contract. Satarem was created […]
Denmark to Participate in the Kurdistan Development
The Danish Ambassador to Iraq, Mr. Gert Meinecke, met with KRG Minister Falah Mustafa and other officials from the Department of Foreign Relations yesterday to announce that Danish companies will be participating in the progress and development of the Kurdistan Region. Ambassador Meinecke visited the Region last month and met with President Masoud Barzani and […]
UK Visa Centre Opened in Erbil
The UK Prime Minister's Trade Envoy, Lord Marland and the Kurdistan Regional Government's (KRG) Interior Minister, Abdul-Karim Sinjari, have officially opened the new UK Visa Application Centre in Erbil. The opening of the centre marks the first time that Iraqis in Kurdistan are able to apply for a UK visa from Erbil and further strengthens […]