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 […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd May 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,286 / $1.403, (+0.1%) (weekly change). The number of week traded shares was 4.1bn and the weekly trading volume was ID8.9bn ($7.5mn). ISX Company […]
New Iraqi Oil Prices for June
Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for June. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); Shipments to […]
GKP Spud Bakrman-1 Exploration Well
Gulf Keystone has announced that the Bakrman-1 exploration well spudded on the Akri-Bijeel block in the Kurdistan Region of Iraq on 7 May 2012. Bakrman-1, the third exploration well to be drilled on the Akri-Bijeel block, is located 32 km to the north-west of the Bijell-1 discovery well and 25 km to the north-west of […]
First Romanian-Kurdish Economic Forum held in Erbil
Kurdistan’s chambers of commerce held the first Romanian-Kurdish economic forum in Erbil this week, hosting many Romanian and Kurdish companies. The Romanian businesses were part of a trade delegation that, accompanied by Romania’s Ambassador to Iraq, Jacob Prada, is visiting all three governorates of the Kurdistan Region this week. Dara Jalil Khayat, the Chairman of […]
New $249m Housing Deal in Diwaniya
Bloomberg reports that Iraq’s Kayar Group and Jawaharat Alrawabi have signed a $249 million (290 billion Iraqi dinar) contract to build 3,827 housing units in the south of Diwaniya city. Ahmed Hisham, president of the Diwaniya Investment Commission told the agency: “We are also styuding designs for other companies to build 15,000 residential units. Some […]
STX Discusses Major Projects with Shahristani
Iraq's Deputy Premier with responsibility for energy affairs, Hussein Shahristani, has reportedly met the chairman of the South Korean STX Group to discuss possible cooperation in building power stations. According to the report from Aswat al-Iraq, STX has already completed a diesel power station with a capacity of 900 megawatts. A statement from Mr Shahristani's […]
EU and Iraq agree Partnership Deal
The European Union and Iraq signed a partnership agreement on Friday, which in turn has opened the way for both trade and energy deals. The agreement also allowed a closer cooperation in combating terrorism, promoting human rights, and countering the proliferation of weapons of mass destruction. The accord will allow continuous political discussions on bilateral, […]
$5m of Fuel Stolen Monthly from Basra
More than $5m (5.8bn IQD) worth of fuel is stolen each month from the amount allocated to three Turkish barges that produce power in Basra, a government investigation has revealed. According to the report from Aknews, Iraq's Electricity Ministry announced the discovery following an ongoing investigation into fuel theft. The Inspector General of the Ministry, […]
GKP Responds to Internet Speculation; Shares Rise
Shares on Gulf Keystone Petroleum gained 7.6% on Thusday following the company's response to speculation: Gulf Keystone notes the continued and unfounded speculation on various bulletin boards and other social media sites regarding an alleged planned placing of the Company's shares at 160p per share. Gulf Keystone does not normally comment on such unfounded speculation. […]
$102m Residential Project for Basra
Iraq's Minister of Reconstruction and Housing, Mohammed al-Daraji [Darraji] (pictured) has announced details of the new Zubair Residential Community in Basra province. The project will be built on a site of 56 donums (14 hectares )at a cost of 119 billion Iraqi dinars ($102m). The entire project includes two blocks: block A with 8 flats and […]
DNO Updates on the Company's Reserves; Shares Up
Shares in DNO International ASA, the Norwegian oil and gas company, closed up 6.7% on Thursday following an update on the company's resources. The company released updated estimates setting its remaining proved plus probable (2P/P50) company working interest reserves at 502 million barrels of oil (including condensate and other liquids) and 165 billion cubic feet […]