Genel Energy posts strong Trading Update
Genel Energy has issued the following trading and operations update in advance of the Company's full-year 2018 results, which are scheduled for release on 20 March 2019. The information contained herein has not been audited and may be subject to further review. Murat Özgül, Chief Executive of Genel, said: "2018 was a very positive year […]
Jordan and Iraq plan to Increase Trade
By John Lee. King Abdullah II of Jordan arrives in Baghdad today on an official visit to Iraq for talks with President Barham Salih, and Prime Minister Adil Abd Al Mahdi and senior officials, with a view to strengthening bilateral relations and regional development. According to a report from The Arab Weekly, the two countries […]
WFP helps Modernise Iraq's Rationing System
WFP supports Iraq in modernising its Public Distribution System The United Nations World Food Programme (WFP) and the Government of Iraq have launched an initiative to digitise the national public distribution system (PDS). The first phase of digitisation will reach nearly 1.3 million people in and around Baghdad and Dohuk. The PDS is Iraq’s biggest […]
GardaWorld Weekly Security Report
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]
Increased Oil Production planned for Majnoon
By John Lee. Oil production at Majnoon oilfield is reportedly planned to increase from 240,000 barrels per day (bpd) currently to 290,000 bpd by the end of 2019 and 450,000 bpd by the end of 2021. State-owned Basra Oil Company (BOC) took over the field from Shell and Petronas at the end of June 2018, with […]
Turkey appoints Special Envoy for Water Affairs with Iraq
By John Lee. Turkey has reportedly appointed a special envoy to Iraq to resolve the water sharing issues between the two countries. According to Daily Sabah, former Forestry and Water Affairs Minister Veysel Eroğlu (pictured), who will take up the post, pointed to the "inefficient" use of water resources in Iraq, saying "Turkey will share […]
Navistar Wins $8m Iraq Order
US-based Navistar Defense has been awarded an $8,069,336 fixed-firm-price Foreign Military Sales (Iraq) contract for Navistar transport and cargo vehicles. One bid was solicited with one bid received. Work will be performed in Lisle, Illinois, with an estimated completion date of Sept. 8, 2019. (Source: US Dept of Defense)
US Trying to get More out of Relationship with Iraq
From The Economist. America is trying to get more out of its relationship with Iraq US President Donald Trump thinks America is being ripped off. “We have spent $7trn—trillion with a T—$7trn in the Middle East,” he told a crowd last year, exaggerating slightly. “You know what we have for it? Nothing. Nothing.” To right […]
Lukoil confirms Geological Model for Eridu Field
Russia's Lukoil has successfully completed testing of the fourth well as part of Eridu field (Block 10) appraisal phase in the south of Iraq. The testing resulted in the commercial flow of dry crude oil that proves the current geological model of Eridu field as effective. Lukoil continues geological exploration at Block 10. For instance, […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th January 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD672 (+2.2%) / $723 (+2.0%) (weekly change) (+2.0% and +1.8% YTD change, respectively). The number of week traded […]
Rent and Property Prices Increasing in Kurdistan
By John Lee. Housing prices in Iraqi Kurdistan have reportedly increased by 20 percent in 2018, while rents has gone up by 15 percent. Citing research from real estate company Baghi Khoshnawati, Rudaw says that demand for rental accommodation in the second half of 2018 has increased by 45 percent compared to the first half […]
$2m to Launch of Mosul Heritage Stabilization Program
Cultural Property Consultants (CPC) and the University of Pennsylvania Department of Near Eastern Languages and Civilizations (NELC) have been awarded a $2 million grant to launch the Mosul Heritage Stabilization Program (MHSP). MHSP seeks to assist Iraqis in the preservation and protection of cultural heritage by contributing to the maintenance and promotion of cultural memory, […]