Genel Energy has announcing a reverse tender offer to holders of Genel Energy Finance plc's USD 730 million GENEL01 PRO senior unsecured callable bonds (ISIN NO0010710882). The Company intends to offer one repurchase price at which all relevant Bonds are to be repurchased. The Repurchase Price will be determined through a reverse book-building ("Dutch auction"). […]
By John Lee. Iraq Oil Report, citing Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi], says Baghdad has stopped oil exports through the Kurdish region, to put pressure the Kurdistan Regional Government to resume talks about sharing oil revenues. Sources confirmed to Reuters that the state-run North Oil Company (NOC) has stopped pumping oil […]
ShaMaran Petroleum has announced its financial and operating results for the year ended December 31, 2015. Unless otherwise stated all currency amounts indicated as "$" in this news release are expressed in thousands of United States dollars. Construction of the 30,000 bopd Atrush Phase 1 Production Facility ("Production Facility") is in progress. Substantially all equipment […]
By John Lee. US Secretary of State John Kerry has said that in the 18 months since terrorist group Daesh (Islamic State, IS, ISIS, ISIL) began to seize territory in Syria and Iraq, coalition airstrikes have helped to liberate Kobani, Tikrit, Ramadi, and other key cities and towns. He added: "We have pushed the terrorists […]
By Mustafa Saadoun for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. On Feb. 28, the Islamic State (IS) attacked the headquarters of the Iraqi army’s 22nd Brigade in Abu Ghraib city, west of Baghdad, killing 13 soldiers. The Iraqi security forces and the […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported Thursday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack aircraft conducted two […]
By John Lee. Boutique investment bank Exotix Partners has issued a "buy" alert on Iraqi benchmark U.S.-dollar 2028 bonds on Tuesday, following a "sell" notice in September. The company says: "It seems that an extra level of country risk is being embedded in Iraq specifically, perhaps because the market views its debt as unsustainable. Having once […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) fell to a seven-year low in early trading on Thursday, as the company said it is continuing discussions with bondholders. The company announced its results for the year ended 31 December 2015: Highlights to 31 December 2015 and post reporting period Operational Gulf Keystone's operations in […]
By John Lee. In a speech to the fourth annual Sulaimani Forum, held by the American University of Sulaimani, KRG Prime Minister Nechirvan Barzani explained the current situation in Kurdistan Region, focusing on the internal political conditions, the war against ISIS, the economic crisis and Kurdistan Region’s relations with Baghdad. He was particularly critical of […]
Oryx Petroleum Corporation has announced its financial and operational results for the year ended December 31, 2015. All dollar amounts set forth in this news release are in United States dollars, except where otherwise indicated. 2015 Financial Highlights: Total revenues of $20.5 million on working interest sales of 588,200 barrels of oil (“bbl”) and an […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported on Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack aircraft conducted […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. After living in IDP camps in Iraq, more than 1200 families have returned to their villages of Zangora and Asriya in Anbar province. Iraqi forces have in recent weeks been trying to flush out […]
