Strains on Marshes imperil Ecology, Way of Life
By Nicole Di Ilio for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Strains on ancient Mesopotamian marshes imperil ecology, way of life The marshes in southern Iraq have a unique ecosystem but face dangers due to climate change, dams built […]
IDC Drills New Well at Majnoon
By John Lee. The Iraqi Drilling Company (IDC) has announced that its technical and engineering staff have started drilling oil well MJ-129 in Majnoon oil field in Basra Province. The Director General of the IDC, Bassim Abdul Karim, said that the planned depth of the well is 3,648 meters, reaching to the Mishrif formation. He […]
DNO Updates Oil Reserves
By John Lee. DNO ASA, the Norwegian oil and gas operator, today announced it exited 2021 with 321 million barrels of oil equivalent (MMboe) of net proven and probable (2P) reserves, notwithstanding production of 34 MMboe during the year. The Company's 2P reserves life stood at 9.3 years. Combined with contingent (2C) resources of 189 […]
Genel Energy Updates its Oil Reserves
By John Lee. Genel Energy plc has updated its oil reserves across its portfolio. Net oil Reserves (MMbbls) 1P 2P 3P 31 December 2020 69.4 117.2 177.2 Production (11.6) (11.6) (11.6) Technical revisions 4.8 (1.4) (28.9) 31 December 2021 62.6 104.2 136.6 International petroleum consultants DeGolyer and MacNaughton, working on behalf of the operator DNO, […]
Progress in Reconstruction of Mosul Monuments
By Rina Bassist for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. UNESCO makes progress in reconstruction of Mosul monuments Paris-based UNESCO Chief Audrey Azoulay will travel to Mosul in March, to officially launch the second phase of the reconstruction of […]
Ahmed Mousa Jiyad: Nullification of KRG Oil Contracts
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. KRG' Contracts, Laws and Oil Exports are Unconstitutional and Nullified, Federal Supreme Court Decides Federal Supreme Court-FSC in Iraq issued, after ten years of debate and deliberate procrastination tactics, a long-waited constitutional […]
Reopening of Mosul University's Central Library
Moslawis celebrate the reopening of Mosul University's Central Library and Ninewa Federal Court of Appeal The newly-rehabilitated Central Library at Iraq's second-largest university, Mosul University, was officially reopened today by the United Nations Development Programme (UNDP), the Federal Republic of Germany and the Ninewa Governorate. Mosul University's Central Library, once a center of knowledge and […]
Iraq to Open New Consulates Abroad
By John Lee. At its regular meeting the Iraqi Cabinet approved the recommendation of the Ministry of Foreign Affairs to open consulates in the Iranian city of Isfahan; in Melbourne, Australia; and the Irish capital, Dublin. A Cabinet statement added that Iraq "reserves its right to open an Iraqi consulate general in the People's Republic […]
The Death of Oil Federalism? Implications of Court Ruling
By Bilal Wahab for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Death of Oil Federalism? Implications of a New Iraqi Court Ruling The legal decision and its political fallout are threatening some of the country's […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th February 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD650 (+1.0%) / $697 (+1.0%) (weekly change) (+4.8% and +4.8% YTD change, respectively). The number of week traded […]
Iraq Air Force resumes use of L-159 Strike Aircraft
By John Lee. The Iraqi Air Force has resumed tasking its Czech-made L-159 and Russian-made Su-25 strike aircraft again for operations during the quarter. According to a recent report from Combined Joint Task Force-Operation Inherent Resolve (CJTF-OIR), the L-159's combat tasking is notable since it had not been used for operations in nearly 5 years. […]
Ericsson Shares Fall on Iraq/IS Bribery Fears
By John Lee. Shares in Swedish telecom company Ericsson closed down nearly 11 percent on Wednesday after the company admitted that some of its employees may have bribed members of the Islamic State group (IS, ISIL, ISIS, Daesh) in Iraq. In a lengthy statement to the markets, the company said: "The investigating team also identified […]