Eni Confirms Commitment to Iraq
By John Lee. Iraqi Prime Minister Nouri Al-Maliki and Eni’s CEO Paolo Scaroni (pictured) met today in Baghdad to discuss Eni’s activities in the Country. During the meeting, which the company described as "cordial", Eni’s CEO updated the Prime Minister on the development activities of Zubair’s super giant field and confirmed Eni’s commitment and presence […]
Kurdish Oil Exports "Halve"
By John Lee. Reuters reports that oil exports from Iraqi Kurdistan have halved to around 100,000 bpd in recent days. An Iraqi oil official said on Monday that the Kurdistan Regional Government had told Baghdad's State Oil Marketing Organization (SOMO) that exports were reduced because operators were "facing some technical problems that will take some […]
Sri Lanka to Buy Iraqi Oil after US Sanctions on Iran
By John Lee. Sri Lanka is to purchase oil from Iraq after the US imposed new sanctions on Iran. According to a report from AFP, the US Senate unanimously approved new economic sanctions on Friday aimed at further crippling Iran's energy, shipping and port sectors, a year after Congress passed tough restrictions against Tehran. Sri […]
TAQA Buys into Atrush Block
By John Lee. General Exploration Partners (GEP) has signed a purchase and sale agreement to sell 53.2% of its participating interest in the Atrush Block to Abu Dhabi National Energy Company PJSC (“TAQA”). In conjunction with the sale, Aspect Energy International, LLC will divest itself of any interest in GEP, leaving ShaMaran Ventures B.V. (a […]
Tawke Export Payment Received by DNO
By John Lee. DNO International was advised by the Kurdistan Regional Government that a payment of USD 160 million was transferred last night for distribution to the foreign members of the Tawke joint venture in partial payment for past oil exports of oil from the Tawke field in the Kurdistan Region of Iraq. DNO's share […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 29th November 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,608 / $1,740 (+5.6%) (weekly change). The number of week traded shares was 19.7bn and the weekly trading volume was ID23.5bn ($19.6mn). ISX Company Announcements […]
New Election Officials: "Lots Of People Question Our Abilities"
By Mustafa Habib. 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. In September the new members of the much debated Independent High Electoral Commission were finally elected. Some say they’re not up to the job. But their […]
Bin Shabib & Associates Opens Erbil Office
UAE Law Firm Bin Shabib & Associates LLP has strengthened its presence in the MENA region by launching a new office in Erbil, Iraq. The launch marks BSA's second foray into the MENA market in as many months, having already expanded into Muscat, Oman, this year. After more than a decade in the UAE, the […]
Video: Climate Changes Threaten Iraqi Wetlands
Marshes restored after they were drained under Saddam Hussein during the Iraq-Iran war in the 1980's are now under the risk of being completely destroyed due to rising temperatures and drought. Al Jazeera's Jane Arraf reports from Iraq's southern marshes. (Source: Al Jazeera)
TAQA Takes Profit on WesternZagros
The Abu Dhabi National Energy Company, TAQA, today disposed of its entire holding in WesternZagros Resources, which holds two oil and gas production sharing contracts in the Kurdistan Region of Iraq. TAQA purchased 74 million common shares in WesternZagros at CDN$0.63 per share for a total amount of CDN$46.6 million in October 2011. TAQA completed […]
US, Iraq Strategic Framework Fact Sheet
U.S.A. and Republic of Iraq Strategic Framework Fact Sheet: Services, Technology, Environment, and Transportation Ambassador Stephen Beecroft (pictured) and Deputy Prime Minister Salih al-Mutlaq launched the first meeting of the Services, Technology, Environment and Transportation (STET) Joint Coordinating Committee (JCC) under the U.S.-Iraq Strategic Framework Agreement on November 28, 2012 at the Council of Minister's […]
Al-Dabbagh "Fired as Govt Spokesman"
By John Lee. According to a report from NINA, the Iraqi government decided today (Thursday) to end the official contract for Ali al-Dabbagh as the Iraqi government Spokesman. Dabbagh stated earlier: "I'm the first one who alerted the Prime Minister Nuri al-Maliki to the possible existence of suspicions of corruption regarding arms deal with Russia." […]