Tag Archives | featured

DNO Raises Kurdistan Output Forecast

DNO ASA, the Norwegian oil and gas operator, today reported strong second quarter operational and financial results powered by high oil and gas prices and by solid production in its operated flagship Kurdistan Tawke license. Spurred by quarterly revenue of USD 361 million and free cash flow of USD 167 million, the Company reduced debt […]

PM lays Foundation Stone for Mosul International Airport

By John Lee. Prime Minister Mustafa Al-Kadhimi has laid the foundation stone for the rehabilitation of Mosul International Airport in Nineveh Governorate. He said that Mosul International Airport will provide many opportunities in various fields for Nineveh Governorate, and the neighboring regions, in transporting goods and passengers. (Source: Media office of the Prime Minister)

Tawke Oilfield: First Quarterly Production Increase since 2015

Genel Energy notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has today issued an update on licence activity. Gross production at the Tawke licence averaged 106,900 bopd during the second quarter, of which Peshkabir contributed 62,300 bopd and Tawke 44,600 bopd, the latter representing the first quarterly production increase […]

Dana Gas: "Strong Operational and Financial Performance"

Dana Gas PJSC has announced its financial results for the half year ended 30 June 2022. In the first six months of the year, the Company generated a net profit of AED 407 million ($111mm) or 5.8 fils per share, an 82% increase compared to an adjusted net profit (excluding reversal of impairment) of AED […]

Iraqi Kurds protest over Economy, Alleged Mismanagement

From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi Kurds take to the streets over economy, alleged mismanagement The Kurdistan region of Iraq has been rocked by protests over deteriorating economic conditions and alleged mismanagement by the authorities. Urged by the […]

528 Americans Sue Ericsson for allegedly Aiding Terrorism

By John Lee. More than 500 Americans have filed an Anti-Terrorism Act complaint against Swedish telecom company Ericsson for allegedly aiding campaigns of terrorism in Iraq, Afghanistan, and Syria conducted by al-Qaeda, al-Qaeda-in-Iraq, and Islamic State from 2004 through 2022. According to a statement for the legal firm Sparacino PLLC, Ericsson is accused of making […]

Fitch Rates Iraq's Sumer Commercial Bank 'CCC+'

By John Lee. Fitch Ratings has assigned the Sumer Commercial Bank (SCB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's "weak operating environment, limited franchise, unstable business model and weak profitability". More here. (Source: Fitch Ratings)

Understanding Muqtada al-Sadr: Inside Baghdad's Sadr City

By Dr Renad Mansour and Dr Benedict Robin-D'Cruz, for Chatham House. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Understanding Iraq's Muqtada al-Sadr: Inside Baghdad's Sadr City After supporters of Muqtada al-Sadr storm the Iraqi parliament, a Chatham House survey of residents in Baghdad's […]

Jazeera Paints opens New Showroom in Rania

By John Lee. Saudi Arabia-based Jazeera Paints has opened its sixth showroom in Iraq. The new showroom is in Ranya [Rania], in the Northeast of the Kurdistan Region, which has seen significant economic and industrial development in recent years. It is close to other towns such as Qaladze, Dukan, Chwar Qwrna, Sangasar, and Hajiawa, and […]

Al-Sadr uses Street Pressure to set Political Conditions

By Shelly Kittleson for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Muqtada al-Sadr uses street pressure to set political conditions for his rivals Influential Iraqi cleric Muqtada al-Sadr vowed that new elections would be held as his followers flocked to […]

UNHCR welcomes US contribution to Critical Assistance in Iraq

UNHCR welcomes the generous contribution from the United States of America to support and strengthen critical assistance in Iraq As the largest supporter of UNHCR, the UN Refugee Agency, in Iraq, the United States of America (USA) recently contributed USD 27.8 million to help Syrian and other refugees and Iraq families displaced by Da'esh/ISIS (internally […]