Expat Oil Execs Earn $355k in Iraq
A study by the recruitment consultants Curzon Partnership showed that executives working in Libya or Iraq can expect a total salary of around $354,900. This compares to a total salary to $454,400 a year in Nigeria, representing a 45 percent premium over salary levels in Britain for working abroad. Oil industry executives in Indonesia can […]
Jazeera Airways to Fly to Najaf
Following the successful bilateral discussions between the governments of Kuwait and Iraq, Jazeera Airways announced that it has secured rights to operate the Kuwait-Al Najaf route and intends to launch the route within the next six months. Jazeera Airways, which currently operates 18 non-stop routes in the Middle East from Kuwait, will be the first […]
Lukoil to Sign $998m Deal with Samsung on West Qurna-2
Bloomberg reports that Lukoil, Russia’s biggest non- state oil producer, will sign an agreement with Samsung this week for the development of the West Qurna-2 oilfield. Samsung will install “a crude-gathering facility and a central processing plant for West Qurna-2,” the Iraqi Oil Ministry said on Tuesday. The deal is expected to be signed on 22nd […]
Technical Problems Halt Oil Exports from New Iraq Terminal
Technical glitches have halted exports from Iraq's new offshore oil export terminal for the past week after it loaded just a single tanker, two sources at the state-owned South Oil Company said on Tuesday, according to Reuters. The first of four single-point mooring (SPM) terminals, which are being built by Australia's Leighton Holdings, opened on […]
Genel Shares Unchanged on $58m Loss
Shares in Genel Energy were largely unchanged following the announcement of a $58 million loss in its first set of year-end results. Highlights Successfully raised $2.1 billion through an IPO in June Established a top-class, highly experienced Board and management team Merged with Genel Energy International, gaining a world class portfolio of assets and readmitted […]
Sterling Energy Falls 5.7% on Results
In its announcement this morning of results for the year to end of December 2011, Sterling Energy gave the following review of its operations at the Sangaw North block in Iraqi Kurdistan, in which it has a 53.33% working interest: The Sangaw North block lies in the foothills region of the Zagros fold belt, approximately […]
Entico Corporation Prepares its Third Iraqi Summit
The Entico Corporation is pleased to announce the Maysan and Thi Qar Reconstruction & Investment Summit on the 12th and 13th of May at the Grand Hyatt Hotel, Dubai, UAE. The event will be held under the patronage of H.E. Dr Khudier AlKuzai, Vice President of Iraq. The southern Iraqi provinces of Maysan and Thi […]
Violence Overshadows Summit
After a long series of attacks against the police, it is the Iraqi government which appears to have been the primary target in the latest bout of attacks in Iraq. A spate of at least 26 bombings and shootings around the country left dozens of people dead on 20 March. Incidents were recorded in Abu […]
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 […]
Confusion Surrounds Exxon Iraq Decision
Reuters reported at the weekend that Iraq's government has received a letter from Exxon Mobil saying the it had frozen its deal with the Kurdistan Regional Government (KRG), but other reports say this has not happened. "We received a letter from Exxon on March 5 saying they are freezing the contract with the Kurds," oil […]
Iraq Approves Hormuz Oil Exports Contingency Plan
In an attempt to deal with any potential crisis should Iran close the Strait of Hormuz, Iraq has approved a plan to expand its oil export routes by adding capacity from its northern fields and building a pipeline to ship oil from southern oilfields to the Turkish port of Ceyhan (pictured), according to Reuters. "Short […]
Iraq Buys 300,000 Tons Canadian Wheat
Dow Jones reports that the Iraqi Grain Board bought 300,000 metric tons of Canadian wheat from a tender which closed on 13th March 13. The head of the board, Hassan Ismail Ibrahim, told the agency that: 100,000 tons were bought from Jordan-registered Jresat at $361/ton cost and freight; 100,000 tons from Glencore International at $356/ton […]