Iraq can now Wrest its Sovereignty from Iran
By Hamdi Malik for Foreign Affairs. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Mustafa al-Kadhimi (pictured), Iraq's new prime minister as of May 12, has already announced a bold intention. In a short government manifesto he submitted to the Iraqi Parliament, Kadhimi emphasized his […]
Local Businesses get Boost from Iraq Lockdown
By John Lee. Iraq's national lockdown in response to the coronavirus (COVID-19) pandemic has reportedly given a boost to local businesses. According to a report from AFP, local businesses no longer have to compete with imports from countries such as Turkey, Iran, China, Saudi Arabia, Jordan and Kuwait. It quotes the owner of an ice-cream […]
Petrofac secures Contract Extension with Basra Oil Company
Petrofac's Engineering & Production Services division (EPS) has secured a further six-month contract extension with Basra Oil Company (BOC) for its long-standing Iraq Crude Oil Export Expansion Project (ICOEEP). According to a statement from Petrofac, the confirmation of the contract extension is recognition of Petrofac's successful seven-and-a-half-year track record of safe and efficient delivery and […]
Iraq's Oil-Rig Count Tumbles
By John Lee. Iraq's oil-rig count has reportedly fallen by almost two-thirds this year. Iraqi sources told S&P Global Platts that the total now averages 32 rigs operated by IOCs this month, down from 88 rigs in December 2019. Federal Iraq is averaging 31 rigs this month, compared with 76 in December, while the Iraqi […]
DNO Guides 2020 Production and Spend
By John Lee. DNO ASA, the Norwegian oil and gas operator, today provided production and spend guidance for the balance of the year ahead of its Annual General Meeting on Wednesday. The Company reported that it has implemented the target 35 percent reductions across all spend categories to shrink its 2020 budget by USD 350 […]
UNAMI: Individual Responsibility Essential to Confront COVID-19
The United Nations Assistance Mission for Iraq (UNAMI) applauds the Iraqi government's leadership and decisive response to the COVID-19 outbreak at a time when it is also confronting separate crises, including social unrest and an unprecedented economic downturn. The UN commends the determination shown by local, regional and national authorities to contain the virus, as […]
Petrel Raises Capital to pursue Iraq Prospects
By John Lee. Petrel Resources Plc (Lon: PET) has announce that the company has arranged a placing with ETX Capital to raise £250,000 (before expenses) via the issue of 7,692,308 new ordinary shares (the "Placing Shares") at a placing price of 3.25p per Placing Share. Subject to the appointment of responsible officials by the new […]
Iraq pushes for Rescheduling of Reparations to Kuwait
Iraq's Minister of Finance, Ali Allawi, arrived in Kuwait on Saturday for talks with senior officials. Mr. Allawi held discussions with the Prime Minister of Kuwait, Sheikh Sabah Al-Khalid Al-Sabah, on bilateral relations and delivered a written message from Prime Minister Mustafa Al-Kadhimi. He also held talks with the Minister of Finance, Barrak Al-Shitan, the […]
Criticism in Iraqi Kurdistan over Unpaid Teacher Salaries
By Adam Lucente for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Criticism mounts in Iraqi Kurdistan over unpaid teacher salaries Ferhat is an English teacher at a public school in Erbil, the capital of Iraq's autonomous Kurdistan Region. His salary comes from the Kurdistan Regional Government […]
Iraq to Investigate Killing of Protesters
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq to launch investigations against killing of protesters The new Iraqi government has begun procedures to reinvestigate the violent acts during the popular protests that broke out in October […]
UK Drops Unaoil-related Probe into ABB
By John Lee. The UK's Serious Fraud Office (SFO) has dropped its investigation into ABB linked to the Unaoil case. After a thorough and detailed review of the available evidence, the SFO concluded that this case did not meet the relevant test for prosecution as defined in the Code for Crown Prosecutors. The SFO announced […]
Kadhimi Welcomes Chinese Investment in Iraq
By John Lee. His Excellency Prime Minister Mustafa Al-Kadhimi received Chinese Ambassador to Baghdad Zhang Tao congratulated His Excellency the Premier Al-Kadhimi for swearing-in as Prime Minister, and extended the Chinese Premier greetings, reaffirmed china aspiration to strengthen the relationship with Iraq. Ambassador Zhang Tao underscored China support to Iraq in the international affairs, in […]