Shell to Start Majnoon Oil Output
By John Lee. Shell is to start producing crude at the Majnoon oil field (pictured) as early as next month. Bloomberg quotes the company's regional vice president, Mounir Bouaziz, as saying that output will start “around mid-year” and increase to 175,000 bpd by the end of 2013. He said that the project had faced “teething problems”, […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th May 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,771 (-1.7%) / $1,799 (-1.2%) (weekly change). The number of week traded shares was 33.4bn and the weekly […]
Foreign Minister Receives Kuwaiti Ambassador
By John Lee. Foreign Minister Hoshyar Zebari has met with the Kuwaiti Ambassador to Iraq, Ali Mohammed Al Mu'min. The Minister received a written letter from the Kuwaiti Deputy Premier and Foreign Minister, Sheikh Sabah Khalid Al Sabah, on bilateral relations. During the meeting, the positive progress achieved between the two parties due to their […]
Camp Liberty Residents Relocated to Albania
The Special Representative of the United Nations Secretary-General for Iraq (SRSG), Mr. Martin Kobler, welcomed the relocation of a first group of 14 Camp Liberty residents to Albania. “The residents’ arrival in Albania late last night is an encouraging first step in the relocation of the group of 210 residents the Albanian government has agreed […]
Video: Attacks on Sunni Mosques
From Jewish News One. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. There has been a sharp rise in attacks on Sunni holy sites in Iraq, causing a fear that the country could face more sectarian violence reminiscent of the bloodshed that the country […]
Iraqi Judiciary Opens Hawija Investigation
By Ali Abel Sadah for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Nearly a month following the bloody events that took place in the town of Hawija, the Iraqi judiciary has decided to investigate the circumstances surrounding the events, just as it has […]
Afren Shares Up on Interim Mgt Statement
Shares in Afren have risen more than 5 percent since the publication of its Interim Management Statement on Thursday. In the statement, the company gave the following update on its operations in Iraqi Kurdistan: Barda Rash As part of the phased development of the field, Afren initiated production operations in August 2012 producing its first […]
PhotoSat Completes Satellite Mapping of Garmian Block
By John Lee. PhotoSat has announced the completion of its satellite topography mapping of WesternZagros's Garmian Block in the Kurdistan Region of Iraq, using stereo satellite photos from the high-resolution Pleiades 1A and 1B imaging satellites. Pleiades 1A and 1B are the world's newest 50cm resolution satellites. The satellite topography mapping consists of an elevation […]
Foreign Minister Attends Europe Day Ceremony
By John Lee. Iraqi Foreign Minister Hoshyar Zebari has participated in the Europe Day Celebration organized by the EU Mission in Baghdad. The Minister delivered a speech on the occasion explaining the level of the mutual cooperation especially after signing the partnership and cooperation agreement. A great number of the foreign diplomatic corps members in […]
Prosecutor General Calls for Replacement of President
By Reidar Visser. The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. 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 […]
Why I Still Like North Bank
By Mark DeWeaver. I thought Sansar Capital’s recent report on the Iraqi banks was excellent. But I was surprised by its somewhat negative take on North Bank (BNOR). In particular, I found myself not entirely convinced by the following three points, which form the basis for their bearish case: Insufficient collateral for overdraft lending is […]
North Bank Under the Spotlight
By Padraig O'Hannelly. At Iraq Business News we've always been clear that Iraq is a land of both opportunities and risks. The challenge for any investor or businessperson has always been to decide what risks are worth taking, and at what price. In the investment arena, real out-performance can only come from having a different […]