By John Lee. Shares in Genel Energy were down 10 percent in early trading on Wednesday, after the company issued a trading and operations update in advance of the Company's full-year 2015 results, which are scheduled for release on 3 March 2016. Murat Özgül (pictured), Chief Executive of Genel, said: "2015 was a very challenging […]
By John Lee. In its trading update this morning, Genel Energy gave the following plans for its operations in Iraqi Kurdistan: The majority of planned activity and capital expenditure in the KRI is discretionary, which confers significant flexibility. The Company will leverage this flexibility and match activity to the level of cash proceeds received from […]
By John Lee. Reuters reports that the Iraqi Football Association (IFA) has pledged its support for Jordan's Prince Ali Bin Al Hussein (pictured) in next month's FIFA presidential election. IFA president Abdul Khaliq Masood said: "We have decided that Iraq's vote will go to Prince Ali because Prince Ali has always supported the development of […]
By John Lee. A report this morning from Amnesty International claims that Peshmerga forces of the Kurdistan Regional Government (KRG) and Kurdish militias in northern Iraq have bulldozed, blown up and burned down thousands of homes in Arab villages. It says that although KRG officials have tended to justify the displacement of Arab communities on […]
Hundreds of thousands are living under harsh conditions in the makeshift camps of Anbar, Baghdad and other provinces after fleeing fighting in and around Ramadi. The International Committee of the Red Cross (ICRC) recently delivered badly-needed food, blankets, soap and other basic necessities to over 900 people who had just fled from Ramadi to Habbaniya […]
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 Tuesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack and fighter […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Long Term Service Contracts Are Good But Not Perfect My article on Service Contracts Vs Production Sharing Contracts Revisited, posted on this IBN website, has attracted good deal of formal and professional […]
By John Lee. Iran's Minister for Petroleum, Bijan Nadar Zangeneh (pictured), has revealed plans to increase production at the country’s western joint fields with Iraq by 200,000 bpd. The increase will happen over the next eight months and "surge to 700,000 bpd in the years to come", according to a report from PressTV. Iran has […]
Genel Energy has announced that Sir Graham Hearne has indicated his intention to retire from the Board of Genel Energy at the 2016 AGM. In addition Genel Energy has today appointed Simon Lockett as an independent non-executive director with immediate effect. He will also become a member of the Remuneration and HSSE Committees of the […]
‘If this financial crisis continues, it will have a great effect on the front lines. You cannot send your fighters with empty stomachs to the fight,’ Dr Fuad Hussein told a group of journalists from American media outlets on Friday morning. He added, ‘We need support and help. We are [in Washington] to explain this […]
A UN report released today details the severe and extensive impact on civilians of the ongoing conflict in Iraq, with at least 18,802 civilians killed and another 36,245 wounded between 1 January 2014 and 31 October 2015. Another 3.2 million people have become internally displaced since January 2014, including more than a million children of […]
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 Monday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter and […]
