Further to reports in the media this week, Gulf Keystone (GKP), operator of the Shaikan Field in the Kurdistan Region of Iraq, is today clarifying certain points regarding the marketing of Shaikan crude. Recent media does not correctly represent the views of the Company and its Executives. The inference is that the company does not know […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th Mar 2017). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQ1055 (-1.9%) / $1083 (-1.5%) (weekly change) (+9.9% and +14.3% YTD change, respectively). The number of week traded […]
Statement at the End of an IMF Mission on Iraq: In 2016, real GDP growth was sustained at 11% supported by a large increase in oil output that benefitted from past oil investments In 2017, economic activity is expected to remain muted due to a 1.5% contraction in oil production and only a tepid recovery […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Thursday, 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, coalition military forces conducted 12 strikes consisting […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Latest statement by the Minister of Oil causes concerns The Minister of Oil, Mr. Jabbar. A.H. Luiebi, gave an interview to Ben Lando, of the reputable Iraqi Oil Report (IOR), that was […]
By John Lee. UK-based Cape plc, a provider of critical industrial services to the energy and natural resources sectors, has said that it is pursuing expansion in Iraq, where the Group was awarded initial small contracts from Kuwait Energy and GE during 2016. In its preliminary results for the twelve months to 31 December 2016, […]
By John Lee. Baghdad has again been ranked as the city with the world’s worst quality of living, according to the Mercer 2017 Quality of Living Survey. Just ahead of it in the table of 231 cities are Sana'a in Yemen and Bangui in the Central African Republic. Vienna again retains the top spot; Zurich […]
UNICEF Iraq Monthly Humanitarian Situation Report, February 2017: Highlights Military operations to re-take western parts of Mosul city started on 19 February 2017. The UN estimates that around 750,000 civilians are still residing in the western section of the city. Humanitarian actors are deeply concerned about the situation of civilians, including 412,000 children. Since 19 […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Monday, 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, coalition military forces conducted 11 strikes consisting […]
Fitch Ratings has revised the Outlook on Iraq's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Negative and affirmed the IDR at 'B-'. The Country Ceiling has been affirmed at 'B-' and the Short-Term Foreign-Currency IDR at 'B'. KEY RATING DRIVERS The revision of the Outlook reflects the following key rating drivers: Iraq's fiscal […]
By John Lee. At its annual Ordinary General Assembly in Kuwait on Monday, Zain Group appointed a new Board of Directors for the coming three years. Scott Gegenheimer, who has served as CEO for four-and-a-half years, has been moved to the new role of CEO of Operations, while Bader Al-Kharafi (pictured) becomes Vice-Chairman and CEO. […]
By John Lee. Premier Oil has announced that it has "successfully exited" its position in Iraq. The company was awarded a 40-percent stake in the Block 12 concession in 2012, but said in December 2015 that it would assign its participating interest to the operator, Russia's Bashneft, which was subsequently acquired by Rosneft. (Source: Premier […]
