DNO ASA, the Norwegian oil and gas operator, today announced flow rates of more than 3,000 barrels of oil per day (bopd) from the first zone tested in the Peshkabir-3 well in the Kurdistan region of Iraq. Nine other oil zones and one gas zone have been identified for testing in a 1.2 kilometer horizontal […]
By John Lee. Rudaw reports that the Central Bank of Iraq (CBI) has called on all Iraqi banks to halt their operations in the Kurdistan Region indefinitely. It says that any bank that disobeys will no longer receive foreign currency transfers from the central bank. Banks have reportedly been given one week to inform Iraq’s […]
By John Lee. The CWC Kurdistan-Iraq Oil and Gas conference, planned for London in December, has been postponed. The Kurdistan Regional Government (KRG) cited "the current logistical and other circumstances affecting the Kurdistan Region" for their request to reschedule the conference. CWC has said that new dates and venue will be announced shortly. (Sources: KRG, […]
On Global Open Day on UNSCR 1325, calls for men to champion and support women’s participation in politics and in decision-making The United Nations Assistance Mission for Iraq (UNAMI), jointly with UNWOMEN and in coordination with the Implementation and Follow Up National Reconciliation Committee (IFNRC) of the Office of Iraq’s Prime Minister, held a consultative […]
The United Nations Mine Action Service (UNMAS) welcomes a renewed contribution of EUR 7 million from the Government of Germany for survey and clearance of explosive hazards, including improvised explosive devices and explosive remnants of war, in Iraq. The support will facilitate rehabilitation of infrastructure in areas retaken from ISIL/Da’esh, assist the stabilization process and […]
Iraqi ministers intend to announce and discuss up to 60 intended projects at the IBBC summit conference this weekend in Dubai. In a surge of confidence, a number of Iraqi ministers will be unveiling a raft of infrastructure, oil, power and industrial projects across numerous industry sectors: Construction: Water treatment, waste water, housing, malls & […]
A delegation of senior executives from Iraq's National Oil Company visited senior officials with the National Iranian Drilling Company (NIDC) to discuss cooperation in drilling projects in Iraq. Cooperation and facilitation of NIDC's presence in Iraqi projects were discussed during the Monday meeting of the two companies. A high-profile delegation from Iraq comprising executives of […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. The Iraqi State Organization for Marketing Oil (SOMO) announced Nov. 2 that it is arranging with Turkey to allow SOMO to sell Iraqi crude from the disputed territories […]
General Cites Iraqi Forces' Confidence, Ability in Liberating Qaim As the Iraqi flag flew over Qaim's border to boast the Iraqi town's liberation from the Islamic State of Iraq and Syria, it signaled a milestone in the defeat of ISIS as a physical caliphate, a senior coalition officer told Pentagon reporters today. Speaking via teleconference […]
Genel Energy has announced that the company has received an override payment of $6.41 million from the Kurdistan Regional Government (KRG). The payment represents 4.5% of Tawke gross field revenues for the month of September 2017, as per the terms of the Receivable Settlement Agreement. An entitlement invoice for that month's export deliveries has been […]
The Iranian president’s chief of staff voiced the administration’s determination to construct a railroad linking Iran to the Iraqi city of Basra, saying the project would give a major boost to the transportation industry in the region. Speaking to reporters in the southwestern city of Khorramshahr on Friday, Mahmoud Vaezi said various related bodies, including […]
The final statement from Frank Baker, UK Ambassador to Iraq. In this, Frank reflects on his 3.5 years in the role and discusses his hopes for Iraq’s future: After over three years in Baghdad I am moving on from my role as British Ambassador to Iraq. It has been an incredible journey, in a fascinating […]
