The latest news from Iraq – oil, gas, business and more – brought to you by Iraq Business News
By Anne-Laure Barbosa at Constellis Consulting The Iraqi parliament’s approval of Sunni MP Khaled al-Obeidi as defense minister, and Mohammed al-Ghabban, a Shia member of the Badr Organisation, as interior minister, will provide a stronger political foundation for Abadi to counter the ISIS insurgency. Ghabban’s appointment follows weeks of negotiations and resistance from Abadi to nominate […]
By Anne-Laure Barbosa at Constellis Consulting Elevated levels of violence continued to be reflected in a high number of casualties, with at least 408 recorded deaths over the reporting period. While reporting remains interrupted in large swathes of the North, evidence of war crimes committed by Shia fighters against Sunni populations was described in a briefing […]
By Robert Tollast. The following is an interview with an Iraqi finance professional with a degree in Accounting and Finance. He is also a Chartered Certified Accountant with extensive experience in Banking. He returned to Iraq in early 2013 and now works as a Portfolio Manager, travelling across Iraq but residing in the Iraqi Kurdistan. He was kind […]
By John Lee. Afren have released their Half-yearly Results for the six months ended 30 June 2014 and an update on its operations year-to-date 2014, in accordance with the reporting requirements of the EU Transparency Directive. Below is a summary of their Iraq operations and general financial results. Information contained within this release is un-audited […]
By John Lee. Turkish officials close to their country's energy policy have announced that a total of 8 million barrels of oil have been exported via the Turkish port of Ceyhan. According to officials, while some buyers have been deterred by legal threats from Baghdad, the number of buyers is in fact increasing. The Kurds […]
By John Lee. The Wall Street Journal has written a report based on six interviews with Mosul residents describing life in the city under the rule of the so called "Islamic State". In the report, citizens describe a Taliban like rule of brutality enacted upon those who are seen to transgress against the highly austere interpretation […]
By John Lee. Afren has released a statement on the recent suspension of the Associate Directors of the company pending the results of an investigation. The statement reads as follows: Afren plc ("Afren" or the "Company") announces that the Board has temporarily suspended Iain Wright and Galib Virani, both Associate Directors of the Company. Further […]
By Patrick Schmidt. During an oil and gas conference in Norway, Chief Executive Officer of Kuwait Energy, Sara Akbar (pictured) noted that recent events in Iraq do not sour her outlook for the petroleum industry in Iraq. This statement follows the evacuation of oil engineers and workers from Iraq by select energy companies over the preceding […]
By John Lee. As Kurdish Peshmerga forces have continued their advance, capturing Batana mountain near Zumar, along with recent gains in Makhmur, they have announced ISIL is following a "scorched earth" policy. An official from Iraq's North Oil Company recently confirmed that after ISIL retreated from the Ain Zalah oil field, they set fire to […]
By John Lee. Iraq's Ambassador to the US Lukman Faily has given an interview with the journal Foreign Policy speaking of his long term friendship with Iraqi PM Haider al-Abadi. We learn that Amb. Faily and Abadi were students together in England in the 1980s and both campaigned to raise awareness of the crimes of the regime […]
By John Lee. Gulf Keystone (pictured: CEO John Gerstenlauer) an independent oil and gas exploration, development and production company with operations in the Kurdistan Region of Iraq ("Kurdistan Region"), today announces its results for the six months ended 30 June 2014. Operational highlights · Gulf Keystone's operations in the Kurdistan Region remain secure and production […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks took part in its currency auction on Thursday. A total of $193,850,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
