By John Lee. Mobile phone service Asiacell has reported a sharp drop in revenue, when expressed in Qatari riyals, as a result of the devaluation of the Iraqi dinar. In its results for the half year ended 30 June 2021, parent company Ooredoo said: "Asiacell reported revenue of QAR 1.7 billion during the first half […]
The United Nations Compensation Commission has made available $600 million to the Government of the State of Kuwait towards the Commission's remaining claim with an outstanding award balance. The United Nations Compensation Commission is a subsidiary organ of the United Nations Security Council. It was established in 1991 in accordance with Security Council resolutions 687 […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. ORCID identifier is: https://orcid.org/0000-0002-0946-9898 Upstream petroleum (Oil, Gas and Condensates) sector occupies very critical position and, accordingly, has influential impacts on the national economies of Iraq, some Middle East and North America- […]
DNO ASA, the Norwegian oil and gas operator, has reported operating profit of USD 61 million in the quarter ending 30 June 2021, its second consecutive profitable quarter since the onset of the COVID pandemic. Revenues totaled USD 184 million, up USD 14 million from the previous quarter, as higher oil and gas prices more […]
By John Lee. Iraq and Lebanon have finalised an agreement under which Iraq will provide the Lebanese Electricity Corporation with 1 million tonnes of heavy fuel oil over a one-year period. Lebanon's caretaker Energy Minister, Raymond Ghajar, signed the deal in Baghdad at the weekend. The oil will be paid for in goods and services. […]
By John Lee. World Bank Group President David Malpass met with Iraqi Prime Minister Mustafa Al-Kadhimi during his visit to the United States this week. During the meeting, they discussed the cooperation in financing infrastructure projects in the fields of water, airports, natural gas and energy projects, especially solar. President Malpass affirmed to Prime Minister […]
The Founder Institute, the world's largest pre-seed startup accelerator, is excited to announce that it is officially launching its newest chapter in the Levant Region focusing on founders from Jordan, Iraq, and Lebanon. While the Silicon-Valley based programme has chapters in over 200 cities worldwide. Early-stage entrepreneurs in the Levant can now take advantage of […]
The Council of Ministers of the Kurdistan Region of Iraq has approved Soran and Zakho as autonomous administrations, in a meeting led Prime Minister Masrour Barzani. Prime Minister Barzani cited the size and significance of both districts as reasons to grant them autonomy, and proposed that self-governance would ease the workload of people in those […]
By John Lee. According to a report from Reuters, the Iraqi Prime Minister Mustafa al-Kadhimi has told the press in Washington DC that he wants another American company to replace ExxonMobil when it exits the West Qurna 1 oilfield. Meanwhile, S&P Global Platts reports that Exxon filed an arbitration case against the state-owned Basra Oil […]
By John Lee. UK-based global controls technology company Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels (WHCP) to the Basra Oil Company (BOC) for use on the Majnoon Oil Field in southern Iraq. The deal has been arranged through KBR, the Houston based engineering, procurement and construction management […]
By John Lee. The Jordanian Ministry of Energy and Mineral Resources has announced that Burj Al Hayat Transport and Trading Company has been awarded a tender to transport Iraqi crude oil to Jordan. The company will be responsible for transporting 10,000 barrels of crude oil per day from Iraq's Baiji oil refinery to Jordan's Petroleum […]
KRG receives share of federal budget, ends salary cuts Prime Minister Masrour Barzani on Sunday led a meeting with the Kurdistan Region's Economic Council to address the resumption of full salary pay for government employees. Prime Minister Barzani reiterated that the KRG pays salaries from available revenue, and that they can do so more reliably […]
