By John Lee. The Kurdistan Development Corporation (KDC) has bought the majority shareholding of Erbil-based KREDCO Real Estate Limited Company. KREDCO has previously been described as a joint venture between the KDC and the Kuwait-based National Real Estate Company (NREC). According to a disclosure to the Kuwaiti stock exchange, NREC said it sold its 51-percent […]
Gulf Keystone has provided an operational and corporate update: Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "We are pleased today to declare an additional interim dividend of $50 million, bringing distributions over the past eight months to $150 million in line with our commitment to balance investment in growth with returns to shareholders. […]
By John Lee. The Chinese company Sinopec (China Petroleum & Chemical Corporation) has signed a deal to develop the Mansuriyah gas field in Diyala. The field, near the Iranian border, is expected to produce 300 million standard cubic feet (Mmscf) per day of gas, which will be used for electricity generation and "various industrial projects". […]
By John Lee. Brian Glackin, a partner at Washington DC-based lobbying firm The Livingston Group (TLG), has signed an agreement to represent Iraq's Ministry of Foreign Affairs in the United States. Under the deal, the company will engage in activities to strengthen the ties between Iraq and the United States, including lobbying, perception management, and […]
The United Nations Development Programme (UNDP) in Iraq welcomes an additional PLN 1 million (approximately US$ 244,000) contribution from the Government of Poland to its flagship Funding Facility for Stabilization (FFS). This critical support will focus on stabilizing the five governorates liberated from the Islamic State of Iraq and the Levant (ISIL) to facilitate the […]
By John Lee. Turkey's Ministry of Transport and Infrastructure has announced that flights from Gaziantep to Erbil will begin on 24th January. AnadoluJet will operate the route on Mondays and Thursdays. (Source: Turkish Ministry of Transport and Infrastructure)
By John Lee. Australia's SBS News has published CCTV footage purporting to show the explosion that temporarily closed the Kirkuk-Ceyhan pipeline earlier this week. It appears to show an electricity pylon falling on the pipeline. According to Kurdish news agency Rudaw, a group affiliated with the Kurdistan Workers' Party (PKK) had claimed responsibility for the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th January 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD904 (-1.6%) / $792 (-1.6%) (weekly change) (-1.6% and -1.6% YTD change, respectively). The number of week traded […]
By John Lee. Tehran and Baghdad have reportedly signed a memorandum of understanding (MoU) to establish a joint arbitration center. The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq al-Zuhairi, is quoted as saying that the MoU can remove the obstacles that hinder cooperation between the two countries. The agreement was finalised […]
From the Iraq Britain Business Council (IBBC): Professor Frank Gunter of Lehigh University gave a webinar on the recently published 2nd edition of his book -- 'The political economy of Iraq, restoring balance in a post-conflict Society' -- interviewed by Lizzie Porter, Senior correspondent at Iraq Oil Report, for the IBBC. In a wide-ranging talk, […]
By John Lee. French-based petroleum consultancy Beicip Franlab has signed a deal to provide consultancy services to the Iraqi Oil Ministry's Reservoirs & Fields Development Directorate. The Minister of Oil and President of Iraqi National Oil Company (INOC), Ihsan Abdul-Jabbar Ismail, said that Franlab will give advice that can be used to develop the oil […]
Shares in Genel Energy rose by nearly 5 percent on Tuesday morning after the company issued the following trading and operations update in advance of the Company's full-year 2021 results, which are scheduled for release on 15 March 2022. The information contained herein has not been audited and may be subject to further review. Bill […]
