Shahristani Accuses Kurdistan of Oil Smuggling
The ongoing dispute between Iraq's central government in Baghdad and the Kurdistan Regional Government (KRG) reached new heights on Monday as Iraq's Deputy Prime Minister for Energy, Hussain al-Shahristani (pictured), accused the northern region of smuggling rather than meeting its export obligations. According to Reuters, Shahristani told reporters: "Most of the crude produced in the […]
Dunia Weekly Iraq Market Tracker
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
DNO Updates on Operations in Kurdistan
Following Sunday's statement from the Kurdistan Regional Government stopping oil exports from the region, Norway's DNO International has issued the following statement: As of 1 April 2012, the Ministry of Natural Resources of the Kurdistan Regional Government (KRG) has instructed DNO International ASA to halt delivery of that portion of crude oil produced from the […]
Hill International Wins Three Major Contracts in Iraq
Hill International (NYSE:HIL), the global leader in managing construction risk, announced on Friday that it has been awarded three contracts to provide project management and construction management services for various clients in Iraq. The three contracts, which have a total estimated value to Hill of approximately $15.0 million, include the following: a contract from the […]
Oil Exports from the Kurdistan Region Halted
The export of oil from the Kurdistan Region of Iraq has been stopped from today because the federal government in Baghdad has not honoured its payment commitments, Kurdistan's Ministry of Natural Resources (MNR) said on Sunday. “After consultation with the producing companies, the Ministry has reluctantly decided to halt exports until further notice. There have […]
President Barzani Leads Official Delegation to Bulgaria
On an official visit to Sofia, Bulgaria last week, Kurdistan Region President Masoud Barzani held meetings with the country’s leaders to promote bilateral relations and cooperation. President Barzani met President Rosen Plevneliev and talked about the many cultural and historical similarities that the people of Kurdistan and Bulgaria share. “Our peoples have much in common. […]
After the Baghdad Summit: Implications Regionally and in Iraq
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 Business News. […]
APRIL FOOL: Worldwide Celebrations as Iraqi Dinar Revalues 1:1000!
Just as the dinar speculators predicted, Iraq has re-valued its currency 1000-fold, making dollar-millionaires of ordinary folk from Anbar to Arkansas! The unprecedented 100,000% revaluation was welcomed by businesses all across the world, who saw nothing strange about paying $1,000 today for something that was priced at $1 yesterday. At the stroke of a pen, […]
Development of, and Revenues from, Iraq's Upstream Petroleum Sector
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The upstream petroleum sector in Iraq has been on a significant development drive, in time and magnitude, since mid-2009, and such development efforts would, if realized, bring outstanding results for Iraq and […]
Growing Iraqi Car Market has "Huge Potential"
Bloomberg reports that Iraq is attracting the attention of global automakers including General Motors, Ford and Volkswagen. Western cars were shut out of the Iraqi market by sanctions during the Saddam Hussein era, and even today there are many old VW Passats that were shipped to Iraq from Brazil between 1983 and 1990 in exchange […]
ShaMaran Falls on Financial and Operating Results
Shares in ShaMaran Petroleum were down 13% in early trading on the Vancouver exchange following the company's announcement of its financial and operating results for the year ended December 31, 2011: Highlights A major oil discovery in the Atrush Block was announced by the Company on April 13, 2011. The Atrush 1 well flowed at […]
Entrepose Wins $61m Tank Contract at West Qurna 2
Entrepose Projets, a 100% subsidiary of Entrepose Contracting, a contractor specialised in the design and construction of complex projects in the oil and gas sectors in particular and the energy and environmental sectors in general, has announced that it has been awarded, within a partnership, a contract in Iraq for the construction of oil storage […]