Asiacell Starts Trading on Stock Market
Rabee Securities listed Asiacell Communications PJSC yesterday (Sunday). The company started trading today under the ISX ticker "TASC", at a starting price of IQD 22. In total 67,503,000,000 number of shares were listed and sold, for a total of IQD 1,485,066,000,000 (around $1.24 billion). Asiacell's market cap is IQD 5,940bn ($4.95bn). Foreigners bought 70% of […]
ShaMaran: Increased Contingent Resources at Atrush
ShaMaran Petroleum has announced an update of estimated contingent and prospective resources for the Atrush block provided by third party auditors McDaniel & Associates prepared as at December 31, 2012 in accordance with standards set out in the Canadian National Instrument NI 51-101 and Canadian Oil and Gas Evaluation Handbook (COGEH). McDaniel estimates have taken […]
Iraq to Build Medical City in Baghdad
The Iraqi government has announced that work has begun on a $350-million project to build an integrated, modern medical complex in Baghdad. Ali al-Allaq [Alallaq] (pictured), secretary-general of the Iraqi cabinet, told Al-Shorfa: "The new 1,200-bed medical city will be built on an area of 100,000 square metres in central Baghdad, near the Tigris River […]
Frameworks Governing Upstream Petroleum in Iraq
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq upstream petroleum witnessed three unprecedented interrelated developments post-2003: A grand opening to FDI; offering the most prized petroleum fields in a rather short period of time; and, formulation of the basic […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 31st January 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,639 / $1,773 (+3.8%) (weekly change). The number of week traded shares was 7.6bn and the weekly trading volume was ID11.3bn ($9.4mn). ISX Company […]
Iraq's Problems Go Beyond Maliki
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. This is not the first time that Prime Minister Nouri al-Maliki has been accused of being a dictator. For more than a year, senior politicians have been leveling this charge, long […]
Sterling Energy to Pull Out of Kurdistan
Sterling Energy has announced that it is withdrawing from the Sangaw North Production Sharing Contract ("PSC") in Kurdistan. Shares in the company were trading down 3.3 percent on Friday morning: Interpretation of the 2D seismic data acquired in the Sangaw North PSC during 2012 has indicated that the remaining potential is insufficient to justify drilling […]
Iraq to Harness Solar, Wind Power
By John Lee. A project to generate electricity from solar energy and wind in 15 remote Iraqi cities is now under way, according to a report from Al-Shorfa. Ministry of Electricity spokesman Musaab al-Mudarres told the news agency: "Iraqi companies have already started building integrated complexes for solar cells and towers to generate electricity from […]
Missan to Get New Power Station
By John Lee. AIN reports that Iraq has approved the construction of a new power station in Maysan province. The head of the Provincial Council, Abdul Hussein Abdul Reda, said that the country’s Ministry of Planning had approved a scheme to build a station of between 200 and 250 Megawatts. Iraq’s Ministry of Oil and […]
Atlasjet Plans Iraq Subsidiary
By John Lee. Atlasjet Airlines has confirmed further details of its plans to launch new subsidiaries in Iraq and South Sudan later this year. According to the managing director of Zagros Air (Iraq), Can Akcay, Atlasjet's joint venture carrier with Zagros Group plans to launch operations from Erbil in spring with three Airbus aircraft after […]
Iraqi Kurdistan Considers Lebanese Trade Ties
By John Lee. A business delegation from Iraqi Kurdistan considered strengthening economic ties with Lebanon’s second-biggest city Tripoli. “Iraqi Kurdistan is seeing an economic boom and we hope that Lebanese businessmen continue to benefit from facilities offered by the regional government,” head of the Tripoli Chamber of Commerce Tawfik Daboussi said. Former Iraqi Trade Minister […]
Iraq Warns KRG Over Oil Exports to Turkey
By John Lee. Iraqi Oil Minister Abdul Kareem Luaibi [Elaibi] has issued a stern warning to the KRG over their attempts to export large quantities of crude oil to Turkey, describing it as "a red line". "The Kurds are under obligation to ferry all the oil they produce to the national export systems," said the […]