Genel Shares Rise on Trading Update
Shares in Genel Energy were trading as much as 6 percent higher this morning following a trading and operations update in respect of the third quarter and first nine months of 2022. Paul Weir (pictured), Chief Executive of Genel, said: "I am pleased that we remain on track to generate around $250 million of free […]
DNO Reports Strong Third Quarter Results
DNO ASA, the Norwegian oil and gas operator, today reported third quarter operating profit of USD 191 million on revenues of USD 339 million driven by strong production at the flagship Kurdistan Tawke license and continued high oil and gas prices. In Kurdistan, gross operated production totaled 109,100 barrels of oil per day (bopd) in […]
Iraq Fifth Worst in World for Unsolved Murders of Journalists
By John Lee. The Committee to Protect Journalists (CPJ) has ranked Iraq fifth worst in the world in this year's s Global Impunity Index. The index spotlights countries where members of the press are murdered in retaliation for their reporting and the perpetrators go free, calculating the number of unsolved journalist murders as a percentage […]
Sudani Removes Head of Iraqi Intelligence, other officials
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Sudani removes head of Iraqi intelligence, other officials The Iraqi Council of Ministers announced on Wednesday that all appointments and decrees issued by the previous government during its caretaker […]
Bank of Jordan inaugurates First Branch in Iraq
By John Lee. The Bank of Jordan has announced its first branch in Baghdad. Mr. Shaker Fakhouri, Chairman of the Board, said: "Our decision to establish a branch in Iraq serves to boost our regional presence and exemplifies the strategy adopted by the Bank; namely expanding its business operations in the region, where markets are […]
Central Bank of Iraq "Takes Custody" over North Bank for Finance
By John Lee. The Central Bank of Iraq (CBI) is reported to have taken custody over the North Bank for Finance. A Director of the CBI, Majid Al-Suri, told the Organized Crime and Corruption Reporting Project (OCCRP) that the custodianship was a "corrective measure" as a "a result of irregularities and instability in the bank's […]
Gulf Bridge routes Internet Connection through Iraq
By John Lee. Qatar-based cloud, connectivity and content enabler Gulf Bridge International (GBI) has reportedly updated the 'North Route' of its subsea cable meshed smart network, connecting the Gulf to Europe through Iraq. According to Zawya, this improves route diversification and enhances the resilience of internet connectivity to and from the region. It says it […]
Iraq Oil Exports back above $9bn
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for October of 104,831,120 barrels, giving an average for the month of 3.382 million barrels per day (bpd), up from the 3.292 million bpd exported in September. The exports from the oilfields in central and southern Iraq amounted to approximately 102,070,427 barrels, while […]
Iraq's New Govt outlines Priorities
By Nour H. Ayoub for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's new government outlines priorities Iraqi Prime Minister Mohammed Shia al-Sudani faces multiple challenges and constituencies to move his agenda. Click here to read the full article.
Abu Dhabi agrees Export Credit for Iraq
By John Lee. The Abu Dhabi Exports Office (ADEX) has reportedly signed a line-of-credit agreement worth AED36.7 million (US$10 million) with the National Bank of Iraq (NBI). According to WAM, the financing agreement was signed virtually by Khalil Al Mansouri, Acting Director-General of ADEX, and Ayman Abu Dhaim, CEO of the National Bank of Iraq. […]
Strong Growth at National Bank of Iraq
By John Lee. The National Bank of Iraq (IBN) has seen an increase in net income after tax of 29 percent for quarter to the end of Septermber, compared with the same period in 2021. Parent company Capital Bank Group, based in Jordan, said net income after tax reached JD11.1 million [USD 15.7 million] by […]
Saudi Investment Fund to set up Company to Invest in Iraq
By John Lee. Saudi Arabia's Public Investment Fund (PIF) has set up a company to invest in Iraq. The new company is one of six that will invest a total of up to SAR 90 billion (USD 24 billion) in Bahrain, Iraq, Jordan, Oman, Sudan and Egypt. They will invest in various key sectors, including […]