The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
Agility Public Warehousing Co. KSC (Agility), a Kuwaiti company, has agreed to globally resolve criminal, civil, and administrative cases arising from allegations that Agility overcharged the United States when performing contracts with the Department of Defense (DOD) to supply food for U.S. troops from 2003 through 2010. As part of the global resolution, Agility has […]
By John Lee. Kuwait Energy has announced that it intends to proceed with an initial public offering (IPO), and to list on the main market of the London Stock Exchange (LSE). In a statement to the markets this morning, the company said it expected to raise gross primary proceeds of approximately $150 million from the […]
Kuwait has approved a $100 million grant for Iraq to support humanitarian and reconstruction projects in areas retaken from IS, according to a statement from Iraq’s Reconstruction Fund chief Mustafa Al-Hiti. The grant is the first Kuwaiti financial assistance to Iraq since Iraq’s occupation of Kuwait in 1990/1991 under then-President Saddam Hussein. Officials from the […]
Oil Minister Jabar Ali al-Luaibi [Allibi] has stated that his country will soon complete a project for supplying gas to Kuwait in line with an earlier agreement hammered out between both sides. The minister made the remark during the third Iraq Energy Forum held in Baghdad, lauding good cooperative relations between Iraq and Kuwait. "Iraq […]
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. […]
Kuwait Energy has announced the commencement of oil production from the Faihaa-3 well located in the Block 9 concession situated in the Basra Governorate. The Faihaa-3 well started commercial production on 12 February 2017 at 40/64 inch choke size and has stabilized at a gross daily rate of 5,200 barrels of oil per day (bopd). […]
By John Lee. Kuwait-based telecommunications group Zain has said that revenues at its Iraqi unit fell by 11 percent in 2016. In its full-year results, the company blamed "exceptional circumstances" with revenues for the full-year reaching USD 1.1 billion, and EBITDA reaching USD 394 million, down 18 percent, with a net loss of USD 5 […]
By Sara al-Qaher for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Controversial canal again sparks dispute in Iraq Iraq is fighting a tide of dissent as its lawmakers accuse the government of handing over the Khor Abdullah border canal to Kuwait […]
By John Lee. Dyncorp International LLC has been awarded a $30,790,391 modification (P00148) to foreign military sales contract (Afghanistan, Iraq, Kuwait) W58RGZ-13-C-0040 to exercise option year three of a regional management fee for aviation field maintenance services in support of the Army Aviation and Missile Command, Aviation Field Maintenance Division outside the continental U.S. operations. […]
The National reports that Kuwait has agreed to start a long-delayed gas import deal with Iraq. The plans had been delayed because of the continuing conflict in Iraq, and a lack of investment for infrastructure to convert the huge amount of gas it flares from its oilfields. Meeting with Kuwait’s newly appointed oil minister, Essam […]
WHO welcomes $5-million from Kuwait to provide life-saving health services to people in Mosul The World Health Organization (WHO) has welcomed the generous support of the State of Kuwait through a US$ 5 million donation to help people in the city of Mosul obtain greater medical assistance, particularly the most vulnerable—women, children, the injured and […]
By John Lee. The Ministry of Oil is to postpone a bidding round for 12 small- and medium-sized oil fields, following criticism of the plans by experts including IBN Expert Blogger Ahmed Mousa Jiyad. In a statement, the Ministry's Petroleum Contracts and Licensing Directorate (PCLD) said: "Following to the previous Ministry of Oil Announcement dated […]
