Genel Energy Shares Gain on Trading Update
Shares in Genel Energy were trading up more than 5 percent on Wednesday as the company issued a trading and operations update in respect of Q3 2018. The information contained herein has not been audited and may be subject to further review. Murat Özgül (pictured), Chief Executive of Genel, said: "Genel continues to rapidly increase […]
Iraq targets major Basra Gulf Expansion
Iraq is pursuing major infrastructure projects to add millions of barrels per day of export capacity, in an effort to keep pace with ambitious plans to raise production. In the short term, the Oil Ministry is looking to jump-start work on a long-delayed pipeline contract with the Australian company Leighton Offshore. Beyond that, Iraq is […]
Iraq’s Promising New Leadership
Iraq’s prime minister-designate, Adel Abdul Mahdi, is the kind of leader the U.S. might have hoped for: experienced, well-respected, and, by the standards of Iraqi politics, above sectarian and ethnic factionalism, according to an editorial piece from Bloomberg Opinion: "Unfortunately, the chances that he can create a government consistent with those values remain slim. "While […]
GCC "could Export Electricity to Iraq"
By John Lee. The Gulf Cooperation Council (GCC) is reportedly in discussions with Iraq to connect electricity grids. An official at the UAE's Ministry of Energy and Industry told Reuters that the GCC could export its surplus electricity to Iraq. (Source: Reuters)
Peshkabir Production Pushes 50,000 bpd
DNO ASA, the Norwegian oil and gas operator, today announced production at the Peshkabir field in the Kurdistan region of Iraq has ramped up to 50,000 barrels of oil per day (bopd), meeting the end-2018 target ahead of schedule and below budget. One of two recently completed wells, Peshkabir-7, is producing over 10,000 bopd from […]
Market Review: “Feast or Famine”
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The uncertainty that has prevailed over all economic activity during the last few months is finally coming to an end in a typical Iraqi fashion- […]
Petrofac secures $50m Contract Extension in Iraq
Petrofac’s Engineering & Production Services (EPS) East business has secured a four-year renewal of a contract for maintenance management services for an international oil company client in Iraq. Under the agreement, which is worth approximately US$50 million, Petrofac will continue to provide specialist personnel to support maintenance services for existing mature assets and new production […]
America’s Opportunity in Iraq
A new government in Baghdad can make real progress if the US offers the right kind of support, says Eli Lake. Writing for Bloomberg Opinion, he argues that to do that, the US needs to signal its commitment to Iraqi cities under threat from the militias. Read the full article here from Bloomberg.
How will Basra be Affected by Closure of US Consulate?
By Hamdi Malik for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. The oil-rich port city of Basra is feeling the heat of the intensifying conflict between the United States and Iran. Pro-Iranian armed groups that threaten the United States from time […]
Baghdad Firm wins UNOPS Order
By John Lee. A Baghdad-based company has won a tender to supply and deliver garbage compactors, loaders and truck tractor with low-bed trailer to the United Nations Office for Project Services (UNOPS) in Iraq. The contract with Al-Nuwaira Trading Agencies Co. is valued at $320,000. (Source: UNGM)
Iraq offers to Mediate between Trump, Iran
By Laura Rozen for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Concerned that tensions between Iran and the United States could blow back onto Iraq, a senior Iraqi diplomat said today that Iraq would be willing to facilitate dialogue between […]
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 […]