GKP Revenues Triple
By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed up nearly 13 percent on Wednesday after the company announced that revenue for 2021 had almost tripled. In its results for the full year ended 31 December 2021, Jon Harris, Gulf Keystone's Chief Executive Officer, said: "I am pleased to report a year of strong […]
UN: Arbitrary Detention of Foreign Businessmen in Iraq
By John Lee. The UN Working Group on Arbitrary Detention has concluded that Australian engineer Robert Pether and Egyptian engineer Khalid Radwan were "arbitrarily detained on discriminatory grounds", and demanded their immediate release. The pair have been detained in Iraq since April 2021, following a contract dispute relating to the construction of the new Central […]
Can Economic Trump Card Reverse Iraq's Water Crisis?
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Can economic trump card reverse Iraq's water crisis? Increasing water scarcity is a major issue in Iraq, where it threatens all aspects of society. The severity of the situation is reflected by the […]
Iraqi Drilling Company signs Partnership Contract with SOCAR
By John Lee. The Iraqi Drilling Company (IDC) has signed a partnership contract with SOCAR, the the state-owned oil and gas company of Azerbaijan, for drilling and oil-field services. The Director General of the company, Bassim Abdul Karim, said that the contract involves collaboration in the field of drilling and reclamation of oil wells, noting […]
KRG "Remains Committed" to Oil and Gas Contracts
By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG) has assured the region's partners in the oil and gas sector that the KRG "remains committed" to the contracts that have been signed with energy companies. Masrour Barzani told the Global Energy Forum 2022 that the contracts are "in line with our oil […]
Iraq to Resume Oil Exports to Jordan
By John Lee. Iraq and Jordan have reportedly agreed to re-start the export of crude oil from Kirkuk to the refinery at Zarqa in Jordan. The most recent deliveries to Jordan by truck were in January, and according to Jordan Times they are expected to resume in April. Exports have previously been agreed at 10,000 […]
IBBC meets with Saudi Iraqi Business Council in Riyadh
From the Iraq Britain Business Council (IBBC): Baroness Nicholson and Christophe Michels led a 30-strong delegation of IBBC Members to Riyadh to meet with Members of the Saudi Iraqi Business Council. The high profile meeting of Members of both Councils met under the auspices of the Saudi Minister of Commerce at the head quarters of […]
Constellis Wins $1.3bn Iraq Contract Renewal
Constellis has announced that the US Department of State has awarded the company's Triple Canopy subsidiary a 10-year protective services contract in Baghdad, Iraq, under the WPS III Indefinite Delivery/Indefinite Quantity (IDIQ) contract, with a $1.3 billion contract value. Under this contract, Triple Canopy will continue providing protective services, specialized security services, and logistical support […]
Iraqi Agri-Tech Company receives Investment
Nakhla, an Iraqi-based agri-tech social enterprise, has received a six-figure investment from Euphrates Ventures, an Iraq-focused venture fund. The investment was facilitated by the Iraqi Angel Investors Network (IAIN) and marks the first investment round completed by an Iraqi agri-tech startup. Nakhla is the Arabic name for date palm tree and has long been associated […]
Iraq Finalises February Oil Exports
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for February of 92,790,173 barrels, giving an average for the month of 3.314 million barrels per day (bpd), up from the 3.203 million bpd exported in January. The exports from the oilfields in central and southern Iraq amounted to approximately 91,314,828 barrels, while […]
Latest Iraq COVID Travel Guidelines
The Iraqi Civil Aviation Authority (ICAA) has released its latest vaccination guidelines. The guidelines state that, from 1st April, Iraqi and foreign travelers above the age of 12 who have received one dose of Johnson & Johnson or two doses of any other vaccine will no longer require evidence of a recent negative PCR test […]
Turkish Firm to Start Work on Anbar Airport
By John Lee. Turkish building company Polikon is to start work on a new airport in Anbar. The Governor of Anbar, Dr. Ali Farhan Al-Dulaimi, handed over the land designated for Anbar International Airport to representatives of the company on Thursday, according to a statement from Anbar Governorate. Work on the first phase of the […]