Tech Fault Halts Trading on Iraqi Stock Exchange
By John Lee. The Iraqi Stock Exchange (ISX) has cancelled today's (November 22) session due to a technical fault in the Electronic Trading System. They are working to fix this problem. In addition, there will be no trading session at the ISX on Sunday (November 25) due to an official holiday. [Best forex brokers in […]
Iraq Business News Welcomes New Blogger
"Education is the most powerful weapon which you can use to change the world." -- Nelson Mandela, former president of South Africa, 1993 Nobel Peace Prize laureate. This week at Iraq Business News, we are delighted to welcome a new Expert Blogger to our ranks: Madeleine White is Head of Marketing for Whizz Education. A […]
Ahdab Oilfield Hits 140,000 Barrels Per Day
By John Lee. Aswat al-Iraq reports that crude oil production at the al-Ahdab oil field has reached 140,000 barrels per day. According to an official statement from Wassit province, the field has 170 operational wells. The field, in central Iraq, is being developed by Chinese firm CNPC. (Source: Aswat al-Iraq)
US Sues KBR over Troop Trailers in Iraq
The U.S. government has filed a civil lawsuit accusing KBR and its Kuwaiti subcontractor of submitting nearly $50 million in inflated claims to install live-in trailers for troops during the Iraq War. It is alleged that KBR and First Kuwaiti Trading Co. overcharged for truck, driver and crane costs, and misrepresented delays in providing around […]
WesternZagros Announces Appointment of Senior Vice President
WesternZagros Resources has announced the promotion of Michael Mossman to Senior Vice President Engineering and Operations. Simon Hatfield, WesternZagros's Chief Executive Officer, commented: "Michael's wealth of operational and management experience makes him an ideal person to lead our Kurdistan operations. His promotion strengthens our organization and I am sure he will continue to contribute to […]
Infinite possibility, Immediate need – Education in Iraq
By Madeleine White, former teacher and educational writer and Head of Marketing, Whizz Education. Several years ago, I was working as an English Literature Teacher in at a typical state secondary school in the UK. I remember sitting in a classroom of 16 year old boys, who really didn’t want to be there. They wanted […]
Weekly Security Update
By Gary Sandiford, Olive Group’s Dubai based assessments manager. Olive Group is a leading provider of security and technology solutions and has operated continuously in Iraq since 2003. Overview Olive Groups Iraq statistics are drawn from multiple sources, including media reporting and direct liaison with in country assets. Included within the statistics are a […]
WesternZagros' Kurdamir-2 "Exceeds Expectations"
By John Lee. WesternZagros Resources has successfully completed the first of three planned cased-hole tests in the Oligocene Formation of the Kurdamir-2 well in the Kurdistan Region of Iraq. Flow rates of up to 3,450 barrels per day ("bbl/d") of light oil were achieved from the 20 metre perforated interval, the deepest of the planned […]
President Barzani Welcomes French Business Delegation
The Kurdistan Region President and Prime Minister last week met with France’s Ambassador to Iraq, Mr Gauer Denys, and a French business delegation representing major French companies and business associations. In his meeting with the delegation, President Masoud Barzani said that the Kurdistan Region is eager to enhance economic relations with French companies and thanked […]
Baghdad, Moscow Get Closer: Business Opportunity Or Conspiracy?
By Amir Hassan Fayad. 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. Iraq and Russia have been getting cosy lately with high ranking visitors and multi-billion dollar arms deals. Is this friendship just a business opportunity? Related […]
Gas Flaring Costs Iraq $5m a Day
By John Lee. Azzaman reports that the flaring of associated gas from the country’s producing oil fields, particularly in Basra, is costing the country $5 million a day. But there is good news, according to Dhia al-Mawsawi, the Director-General of South Oil Company, who said there should be no flaring of gas in Basra by […]
Iraq Industrial Sector Attracts Growing Investment
By John Lee. Private investment in Iraq's industrial sector is expected to reach $7 billion this year, up from $3 billion in 2011, reports Reuters. Adel Karim, the deputy industry minister, told the news agency that the country is reaping the rewards of opening up its financial and industrial sectors and luring foreign investment and […]