Genel Energy issues update on Trading and Ops
Genel Energy has issued the following trading and operations update ahead of the Company's Annual General Meeting ('AGM'), which is being held today: Bill Higgs, Chief Executive of Genel, said: "Our robust financial position continues to strengthen, supporting investment in our organic portfolio as well as our progressive dividend. Despite the result of Sarta-5, the […]
AirSada wins Medevac Contract with Hyundai in Basra
By John Lee. The Turkish-based private jet charter company AirSada has won a second contract to supply medical evacuation (medevac) services, this time to South Korea's Hyundai Engineering and Construction in Iraq. The contract with AirSada, which runs to September 2025, includes air ambulance and medical treatment services. It was signed by Mr Tolga Urcu, […]
Russian: 'No objections' to Kurdistan exporting Gas to Europe
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. Russian ambassador to Iraq: 'No objections' to Kurdistan Region exporting gas to Europe Elbrus Kutrashev (pictured) spoke to the Kurdish news outlet Rudaw about plans to export natural gas […]
Italy assumes command of NATO Mission in Iraq
Major General Giovanni Iannucci (pictured) from Italy has assumed command of NATO Mission Iraq, following a change of command ceremony held in Baghdad. He succeeds Lieutenant General Michael Lollesgaard from Denmark, who had assumed his command on 6 May 2021. On the occasion of the change of command, NATO Secretary General Jens Stoltenberg offered the […]
Market Review: "Ramadan & Profit Taking"
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Ramadan & Profit Taking" The market, as measured by the Rabee Securities RSISX USD Index, declined by 7.0% for the month, and up of 8.2% […]
Rehabilitation of 60 Shops and 3 Schools in Ninewa
UNDP completes rehabilitation of 60 municipality shops and three schools in western Ninewa Sixty municipality shops in Tal Abta and three primary schools in Sinjar that were damaged or destroyed during the ISIL conflict were officially inaugurated by the United Nations Development Programme (UNDP) and the Ninewa Governorate. Benefitting around 1,900 residents, the four facilities […]
Shares in Genel Energy slump on Sarta Result
By John Lee. Shares in Genel Energy were trading down 7 percent on Tuesday morning after the company announced disappointing results at the Sarta-5 appraisal well: "Genel Energy plc ('Genel' or 'the Company') announces the following update on the Sarta PSC (30% working interest and operator). "Testing of the Sarta-5 appraisal well has been completed. […]
The Economics of Iraq: Ancient Past to Distant Future
Iraq Business News Expert Blogger, Dr Amer K. Hirmis, has just published a book that takes readers 6000 years back to early Mesopotamian polity, culture, and religious codes which shaped the economy, and continue to shape much of the body of Iraq's polity, economy and society today. Economic inefficiency, inequality and lack of sufficient employment […]
Sinjar latest Flashpoint for Iran-Turkey Tensions in Iraq
From Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Sinjar becomes latest flashpoint for Iran-Turkey tensions in Iraq New Pentagon IG report says that the Turkey-PKK conflict and Iranian militias are contributing to instability in Iraq. Click here to read the […]
Iraq Revenues to Exceed $150 Billion
By John Lee. A financial advisor to the Iraqi Prime Minister has said he expects Iraq's revenues this year to exceed $150 billion. Speaking to the state-controlled Iraqi News Agency (INA), Mudhar Muhammad Salih said sustained high oil prices, combined with non-oil revenues of "no less than $8-10 billion", will result in total revenues for […]
IBBC appoints Industry Specialist as Strategic Development Officer
IBBC appoints industry specialist as Strategic Development Officer As the Iraq Britain Business Council (IBBC) Board and Executive Committee re-fresh their strategic plan to continue a pathway to success for Iraq and its business community, it has appointed a Strategic Development Officer to bring industry expertise and experience to its management team. Colin Findlay brings […]
Iraq Petroleum Sector Chronicle, Volume 2 - 2011
Iraq Business News Expert Blogger, Ahmed Mousa Jiyad, has completed the second volume of his chronicle of the Iraqi oil industry, this time covering 2011. The first volume, published in October 2021, covers the development in the upstream petroleum in Iraq prior to 2011 and has a subtitle "Grand Opening for Big Push Strategy". The […]