Crescent Petroleum to Increase Investment in Iraqi Gas
By John Lee. UAE-based Crescent Petroleum is reportedly planning a significant increase in its production of natural gas at its Pearl Petroleum operations in Iraq. President Badr Jafar (pictured) is quoted as saying that there will be an investment of $1 billion to boost production to 500 million cubic feet of gas per day by […]
Sweden helps Stabilize Newly Liberated Areas in Iraq
Sweden increases its support to stabilize newly liberated areas in Iraq The Government of Sweden has contributed an additional US$ 12 million (SEK 100 million) to UNDP’s Funding Facility for Stabilization (FFS), which finances initiatives for rapid stabilization of areas liberated from the Islamic State of Iraq and the Levant (ISIL). This brings Sweden’s total […]
DNO: Revenues and Investment Rise Sharply
DNO ASA, the Norwegian oil and gas operator, today announced a 50 percent hike in 2018 spending in the Kurdistan region of Iraq to USD 250 million net to the Company on the back of higher revenues and regular export payments. Annual 2017 revenues stood at USD 347 million, up 72 percent from 2016, bolstered […]
Zain returns to Profitability in Iraq
By John Lee. Zain Iraq has reported a net profit of $29 million for 2017, up from a loss of $5 million the previous year. In a statement, the company said: "Despite the challenging yet improving socio-economic circumstances facing the operation, Zain Iraq performed exceptionally well when compared to the previous year. "Revenues grew consecutively […]
Saudis see Opportunities in Helping to Rebuild Iraq
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. The reconstruction of Iraq’s liberated Sunni areas will open new horizons for the country, as 400 companies worldwide are engaged in the Reconstruction Fund for Areas Affected by Terroristic Operations […]
Oil Minister meets with the CEO of Lukoil
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has met with Kati Al-Juboori, the CEO of Russia's Lukoil, and his entourage. During the meeting the two parties discussed ways to develop the oil sector in Iraq. Mr. Al-Juboori praised the keenness of the Ministry of Oil to cooperate with global companies and provide […]
Investment Policy Statement of the Iraq National Investment Commission
By John Lee. Iraq's National Investment Commission (NIC) has issued a new Investment Policy Statement. The full document can be downloaded here: Page 1 Page 2 Page 3 (Source: NIC)
UNICEF needs $17m to Rebuild Health Facilities for Children
Warning about the “alarming” state of Iraq’s healthcare system, especially in war-ravaged areas in and around Mosul, the United Nations children’s agency has stepped up its support to help the Government provide critical medical services so that children and families affected by violence and displacement can resume their lives. With less than 10 per cent […]
New Iraqi Housing Schemes open for Investment
By John Lee. Iraq's National Investment Commission (NIC) has included three major new housing programs in its list of major strategic projects to be presented during the Kuwait International Conference for Iraq Reconstruction, to be held in Kuwait from 12th to 14th February: A. First phase / building 25,000 housing units in each province for […]
UK Confirms Support for Iraq
By John Lee. Prime Minister Haider Al-Abadi received a phone call from British Foreign Minister Boris Johnson on Tuesday evening, during which they discussed strengthening collaboration between their two countries, and Iraq's Rebuilding Conference which is to be held soon in Kuwait. According to a statement from the Prime Minister's office, Mr. Johnson confirmed the […]
Video: Book Culture Returns to Mosul
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Literary cafes, poetry readings and pavement bookstalls -- Mosul's cultural scene is back in business, months after Iraqi forces ousted the Islamic State group from the city following three years of jihadist rule. View […]
IFJ warns about Media Freedom Violations in Kurdistan
The International Federation of Journalists (IFJ) has denounced the multiple media freedom violations in the Iraqi Kurdistan region documented in a new report by IFJ affiliate the Kurdistan Journalists Syndicate. The 2017 annual report of media freedom violations, published by the KJS’ Committee for the Defense of Press Freedom & Rights of Journalists, reveals that […]