DNO Spuds Third Peshkabir Well; Resumes Field Appraisal
DNO, the Norwegian oil and gas operator, today announced resumption of appraisal drilling at the Peshkabir discovery on the Tawke license in the Kurdistan region of Iraq following extended testing of the Cretaceous and Jurassic reservoirs in the Peshkabir-2 well. The Company spud the Peshkabir-3 well on 8 July as part of a fast track […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th July 2017). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD805 (-0.9%) / $826 (-1.6%) (weekly change) (-16.2% and -12.8% YTD change, respectively). The number of week traded […]
Airstrikes Continue in Effort to Defeat ISIS
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Saturday, conducting 25 strikes consisting of 75 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday's strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, […]
UNHCR welcomes Donation from Germany
UNHCR, the UN Refugee Agency, has welcomed the latest contribution of Euro 13m from Germany to provide shelter and protection assistance to over 3 million displaced Iraqis. This generous support will enable UNHCR to continue its interventions in providing humanitarian assistance and protection activities in supporting the internally displaced persons with their basic needs, shelter, […]
Eid Visitors to Kurdistan Double
By John Lee. The number of tourists visiting the Kurdistan Region of Iraq over the Ramadan holidays has doubled since last year to 243,000 people. The income generated is estimated at $73 million. Nawroz Mawlud, the minister for Municipalities and Tourism told Rudaw that about 70 percent of the tourists came from southern and central […]
US Retailer fined $3m for Smuggled Iraqi Artifacts
By John Lee. A US-based arts-and-crafts retailer has agreed to pay a $3 million fine for illegally importing thousands of ancient Iraqi artifacts smuggled into the US through the United Arab Emirates (UAE) and Israel. in December 2010, Hobby Lobby executed an agreement to purchase over 5,500 artifacts, comprised of cuneiform tablets and bricks, clay […]
New Career Opportunities in Iraq
By John Lee. The United Nations has advertised new positions in Iraq: Procurement Assistant, United Nations Assistance Mission for Iraq (UNAMI) National Emergency Preparedness and Response Officer, United Nations Assistance Mission for Iraq (UNAMI) Human Resources Assistant, United Nations Assistance Mission for Iraq (UNAMI) Human Settlements Officer, United Nations Human Settlements Programme Technical Officer, World […]
New Career Opportunities in Iraqi Kurdistan
By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Finance Coordinator, Médecins du Monde General Coordinator, Médecins du Monde Humanitarian Programs Team Leader, Mercy Corps Finance Director, Mercy Corps Facilitator, World Vision Project Coordinator, World Vision Team Leader, World Vision Roving Logistics Coordinator, Oxfam Call Centre Operator, United Nations Office for […]
Mid-Yr Assessment of Oil Revenues, Budgetary Implications
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Mid-year Assessment of Oil Export Revenues and Budgetary Implications Iraqi data on oil exports and generated revenues for the first half of 2017 provide the material evidence to assess the impacts of […]
New Guide to Doing Business in Iraq
Deloitte Middle East (DME) has launched a guide to doing businesss in Iraq. The “Doing business guide - Understanding Iraq’s tax position” addresses the key tax considerations for doing business in Iraq, alongside key economic, industry and market drivers which impact starting up a business there. The complexity of tax compliance in Iraq has grown […]
DNO and Genel report Payment for Oil Exports
By John Lee. Norway's DNO has reported receipt of $40.66 million from the Kurdistan Regional Government (KRG) as payment towards April 2017 crude oil deliveries to the export market from the Tawke license. The funds, to be shared pro-rata by DNO and partner Genel Energy, include $34.10 million towards monthly deliveries and $6.56 million towards […]
Iraq to pay $500m to Kuwait Airways
By John Lee. Kuwait's Ministry of Finance and Kuwait Airways Corporation (KAC) are reported to have been coordinating efforts to receive $500 million from Iraqi Airways. The money is scheduled to be paid in one or two tranches over the next few months. According to Arab Times, an initial agreement for Iraq Airways to pay $300 […]