Genel Energy Directors Step Down

Genel Energy has announced that Martin Gudgeon and Esa Ikaheimonen have each tendered their resignation as Director of the Company with effect from the close of the Annual General Meeting later today, and accordingly the resolutions relating to their re-appointment have been withdrawn. Esa Ikaheimonen remains in his role as Chief Financial Officer. Martin Gudgeon […]

Program To Support SMEs in Anbar

From The Station. With the continuing pandemic, businesses around the world are struggling to deal with the impact of successive lockdowns, a wider recession that will have, and already has, a profound impact on employment rates as well as maintaining supply chains in their current form. This situation in Iraq is exacerbated by the traditional […]

Siemens to rebuild West Mosul's Super-Grid Station

Siemens Energy and the Ministry of Electricity of the Republic of Iraq signed a contract to construct Iraq's West Mosul 400-kilovolt (kV) super grid station, which will provide reliable and efficient power supply to around 700,000 Iraqi citizens in northern Iraq, particularly the Nineveh province. The construction of the Mosul station, which was destroyed in […]

Terrorist Attack on Bai Hassan Oil Field

By John Lee. A terrorist attack on the Bai Hassan oilfield in Kirkuk early on Wednesday has caused casualties and damage. A statement from the Ministry of Oil said that wells 177 and 183 were bombed, and "a number of security forces and energy police were killed and wounded". The safety and firefighting teams from […]

Iraq to Invest $3bn in Basra Gas Company

By John Lee. Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail (pictured), has said that Iraq will invest $3 billion in the Basra Gas Company (BGC) over the next five years, as it pushes ahead with plans to increase gas production. The money will fund projects intended to increase BGC's gas production capacity from 1,000 to 1,400 […]

Iraq may Buy Exxon stake in West Qurna 1

By John Lee. Press reports quote Iraq's oil minister as saying that Iraq could buy ExxonMobil's 32.7-percent stake in the West Qurna 1 oil field. Ihssan Abdul-Jabbar Ismail told a news conference on Monday that the government might purchase the stake via the state-owned Basra Oil Company (BOC). BOC previously took over the Majnoon field […]

Audio: How Can Iraq Upgrade Its Banking Sector?

From the Iraqi Voices podcast. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. How Can Iraq Upgrade Its Banking Sector? Iraqi Voices hosts Akel Al-Ansari, a commercial banking specialist, to discuss the current state of the banking sector in Iraq and what is […]

COVID-19: Iraq announces 10-Day Lockdown

By John Lee. The Iraqi Cabinet on Tuesday approved a recommendation by the Higher Committee for Health and National Safety to impose a 10-day full curfew from May 12th to 22nd, following a rise in COVID-19 infections across the country. All malls, restaurants, cafes, cinemas, event and wedding halls, swimming pools and gyms will be […]

Market Review: "On the Economics of Coiled springs, Crouching Tigers, and Chicken Lickens"

By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "On the Economics of Coiled springs, Crouching Tigers, and Chicken Lickens" The market, as measured by the Rabee Securities RSISX USD Index, continued […]

Sallyport wins $240m Iraq Contract

By John Lee. US-based Sallyport Global Holdings, part of the Caliburn International group, has been awarded a not-to-exceed $240,000,000 cost-plus-fixed-fee undefinitized contract action to provide base operations support, base life support, and security services in the support of the Iraq F-16 program. Work will be performed on Balad Air Base, Iraq, and is expected to […]