Gas Facility in Iraqi Kurdistan struck by Suspected Drone
By John Lee. Dana Gas has informed the market that a liquid storage tank at the Khor Mor facility in the Kurdistan Region of Iraq was struck by a suspected drone on the evening of Thursday, 25 January. It said there were no injuries to personnel, but that production was temporarily suspended to put out […]
Fly Baghdad Suspends Operations
By John Lee. Iraqi budget airline Fly Baghdad has suspended operations until further notice, following the imposition of sanctions by the United States earlier this week. It said the move was in compliance with a decision of the Iraqi government. The airline added that due to the freezing of its bank accounts, it is unable […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th January 2024). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,654.1 5.8% 6.4% RSISX USD Index 1,626.4 […]
Governor of Najaf announces Oil Discovery
By John Lee. Dr. Majid Al-Waeli, the Governor of Al-Najaf, has announced the discovery of oil in the Oasis Al-Rahban area in the lowlands of Al-Najaf province. According to a statement from the Governor's office, the discovery was made by the Iraqi Oil Exploration Company and a group of foreign experts Al-Waeli ordered the formation […]
Iraqi PM approves Iraq's first Gas Platform
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has approved the recommendations of the committee responsible for establishing a fixed platform for imported gas at the large Al-Faw Port. This platform is the first of its kind in the national oil, gas, and related infrastructure sector. During a meeting chaired by the Prime Minister on […]
New 'Carbon Light' Brine Plant opens at Rumaila
By John Lee. The National Energy Services Reunited Corp. (NESR) has announced the inauguration of its flagship 'Carbon Light' oilfield brine plant in North Rumaila. The project and opening ceremony were conducted with Basra Energy Company (BECL), the company set up on 2021 to operate the Rumaila Operating Organization (ROO). According to a statement from […]
Contract to Rehabilitate War Shelters in Ramadi
By John Lee. Fallujah-based Aswar Al-Dammam for General Contracting has won a contract with the United Nations Office for Project Services (UNOPS) for the "Rehabilitation of 109 War Damaged Shelters ( WDSs) in Ramadi." The contract is valued at $712,791. (Source: UN)
China's Huawei trains Iraq's Electricity Ministry
By John Lee. China's Huawei has organised a technical seminar at the Ministry of Electricity's headquarters, focused on digital transformation, the future of energy, and programs for protecting electrical systems. The seminar was attended by the Director-General of the Technical Department, along with several specialists and advanced engineering and technical staff. The participants provided a […]
Emergency Health Care boosted across Iraq
Emergency health care boosted across Iraq in 2023 The W0rld Health Organization (WHO) Iraq ended 2023 having boosted the crucial life-saving skills of medical and health staff in emergency units through the rollout of the Basic Emergency Care (BEC) course. This year-long initiative has strengthened the provision of emergency health care across Iraq. In January […]
Genel Energy Cuts Costs; Arbitration Case to Start Soon
By John Lee. UK-listed Genel Energy has said that it has cut all non-essential activity and significantly reduced spend, while developing a new source of income through domestic sales in the Kurdistan Region. Meanwhile, an arbitration hearing into the termination of the Miran and Bina Bawi production sharing contracts (PSCs) is scheduled to start in […]
UN Responds to Iraq Bribery Allegations
By John Lee. The United Nations Development Programme (UNDP) has responded to a claim that large sums are being lost to corruption in Iraq as donors fail to track spending on post-war reconstruction. According to an article in the British newspaper The Guardian: "The alleged kickbacks are one of a number of claims of corruption […]
Jiyad: "TotalEnergies Agreement Smells Filthy - Part 2"
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. TotalEnergies Agreement Smells Filthy The more information becomes available about this agreement, the more it exposes the extent of unfairness and damage to Iraq national interest, and the deception or scandal of […]