GKP: Near-Term Local Sales Outlook "Strong"
By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed the day down 5 percent on Thursday following the company's Operational and Corporate Update. The company announced increased production, sales and cash balances, and described the near-term local sales outlook as "strong." Full statement from the company: Gulf Keystone, a leading independent operator and producer […]
Integrity Commission to Expedite Investigation into Pipeline Contract
By John Lee. Prime Minister Mohammed S. Al-Sudani has instructed the Federal Commission of Integrity to expedite its investigation into irregularities in the awarding of a pipeline project related to light petroleum product disposal outside Karbala Refinery. According to the Prime Minister's office, the project was assigned to a non-specialised intermediary company, leading to delays, […]
Iraq announces Oil Exports for December
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for December, but has again not disclosed the value of oil exports for the month. This continues the practice of delayed or missing oil export data from the Ministry. Total exports of crude oil: 101,024,596 barrels. Exports from the oil fields in […]
Combating Money Laundering and Terrorist Financing in Iraq
By John Lee. The Financial Action Task Force (FATF) has completed an assessment of Iraq's measures to combat money laundering and terrorist financing, and this week published its report. The assessment is a comprehensive review of the effectiveness of Iraq's measures to protect the financial system from abuse and its level of compliance with the […]
Iraq Stock Market Report
dvertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 23rd January 2025). Note: ISX will be closed on Jan. 26, 2025 (Sunday) due to a religious holiday. The next trading session will be held on Jan. 27, 2025 (Monday). Please click here to view a table of listed companies and their […]
Iraqi Oil Minister Welcomes Italian Business Delegation
By John Lee. Minister of Oil Mr. Hayan Abdul Ghani received an Italian business delegation this week, led by Ms. Chiara Franchini, Deputy Head of Mission at the Italian Embassy in Baghdad. The visiting delegation also included: Mr. Carlo Lombardi, Director of Italian energy company STP Studi Tecnologie Progetti S.p.A.; Mr. Franco Pigiocchi, Financial Director […]
Saudi's Al-Khorayef explores Energy Collaboration with Iraq
By John Lee. Iraq's Minister of Oil, Hayan Abdul Ghani, met with a delegation from Saudi Arabia's Al-Khorayef Petroleum on Tuesday, including senior representatives Mohammed Al-Dughmi and Khalid Hamza Al-Rikabi. Discussions focused on enhancing cooperation in the oil, gas, and energy sectors. Alkhorayef Group joined the Iraq Britain Business Council (IBBC) in 2023. (Source: Ministry […]
Iraq welcomes UK's Downgrading of Iraq's Security Classification
By John Lee. The Iraqi Foreign Ministry has welcomed the United Kingdom's decision to downgrade Iraq's security classification, citing it as a key achievement reflecting improved security conditions and the government's efforts to promote stability. The change is expected to facilitate British companies' entry into the Iraqi market and reduce insurance costs for travel and […]
Iraq Explores Energy Sector Partnership with Honeywell
By John Lee. President Dr. Abdul Latif Jamal Rashid met with Ken West, CEO of Honeywell Energy and Sustainability Solutions, on 21 January 2025 in Davos. Discussions centred on strengthening Iraq's collaboration with Honeywell in the oil and energy industries. The President highlighted Iraq's current stability, investment opportunities, and commitment to improving oil and gas […]
Infrastructure Projects get Green Light in Diwaniyah
By John Lee. Prime Minister Mohammed S. Al-Sudani met on Sunday with Diwaniyah Governor Abbas Shaeel Al-Zamili and Provincial Council Head Mohammed Shukheir Farhoud to discuss the administrative and service conditions in the province. The Prime Minister directed the allocation of necessary funds to support the completion of rehabilitation works in 42 neighborhoods across the […]
Nasiriyah Field Expansion Project: Contract Terms Amended
By John Lee. The Council of Ministers has approved amendments to the Nasiriyah Field Expansion Project (100,000 barrels/day) managed by Dhi Qar Oil Company (DQOC). The changes include adopting the EPC (Engineering, Procurement, and Construction) model instead of the EPCF (Engineering, Procurement, Construction and Financing Contract) contract and revising the project's total cost. Funding-related provisions […]
Stellar Energy signs $2bn+ Iraq Power MoU
By John Lee. Iraq's Minister of Electricity, Ziad Ali Fadhil, has signed a cooperation agreement and memorandum of understanding with U.S.-based Stellar Energy to implement strategic projects aimed at advancing Iraq's electricity sector. The first phase of the agreement will be financed through the Export-Import Bank of the United States (EXIM Bank). This will include […]