By John Lee. The Iraqi Cabinet has approved several allocations from the Ministry of Finance to the Ministry of Water Resources: 3 billion dinars ($2 million) to build new water pumping stations and maintain existing stations throughout the country; 3 billion dinars for rehabilitation and lining works of Shatra and Al Kasr in Dhi Qar […]
By Ahmed Tabaqchali, Hamzeh al-Shadeedi and Sarwar Abdullah, for the Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS). The opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Breaking the Impasse: The Baghdad-Erbil Budget Divide The annual debate over […]
By John Lee. Iraq is reportedly trying to recover Iraqi funds frozen in Italy. Foreign Minister Fuad Hussein (pictured) is reported as saying that Baghdad is attempting to recover around EUR 600 million, plus interest, that the Saddam Hussein regime paid to Italian companies to purchase weapons. According to Basnews, the weapons were not delivered […]
In response to the Erbil Court of Cassation's recent decision to uphold the six-year jail sentences of Iraqi Kurdish journalists Sherwan Amin Sherwani and Guhdar Zebari, the Committee to Protect Journalists (CPJ) issued the following statement: "With the Erbil Court of Cassation's decision to uphold the six-year jail sentences of journalists Sherwan Amin Sherwani and […]
Genel Energy has issued the following statement relating to the Company's Annual General Meeting ('AGM'), which is being held today: Bill Higgs (pictured), Chief Executive of Genel, said: "The addition of production at Sarta and the robust performance of Tawke year-to-date has increased year-on-year production in line with guidance. With a strong balance sheet, our […]
DNO ASA, the Norwegian oil and gas operator, today reported operating profit of USD 66 million in the first quarter of 2021, following four quarters of losses triggered by market perturbations from the global Covid pandemic. The turnaround was driven by solid production, cost optimization, higher oil prices and regularization of payments from Kurdistan. The […]
Genel Energy has announced that Martin Gudgeon and Esa Ikaheimonen have each tendered their resignation as Director of the Company with effect from the close of the Annual General Meeting later today, and accordingly the resolutions relating to their re-appointment have been withdrawn. Esa Ikaheimonen remains in his role as Chief Financial Officer. Martin Gudgeon […]
(Source: Iraqi Children Foundation- ICF)
By John Lee. A terrorist attack on the Bai Hassan oilfield in Kirkuk early on Wednesday has caused casualties and damage. A statement from the Ministry of Oil said that wells 177 and 183 were bombed, and "a number of security forces and energy police were killed and wounded". The safety and firefighting teams from […]
By John Lee. Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail (pictured), has said that Iraq will invest $3 billion in the Basra Gas Company (BGC) over the next five years, as it pushes ahead with plans to increase gas production. The money will fund projects intended to increase BGC's gas production capacity from 1,000 to 1,400 […]
By John Lee. Press reports quote Iraq's oil minister as saying that Iraq could buy ExxonMobil's 32.7-percent stake in the West Qurna 1 oil field. Ihssan Abdul-Jabbar Ismail told a news conference on Monday that the government might purchase the stake via the state-owned Basra Oil Company (BOC). BOC previously took over the Majnoon field […]
By John Lee. The Iraqi Cabinet on Tuesday approved a recommendation by the Higher Committee for Health and National Safety to impose a 10-day full curfew from May 12th to 22nd, following a rise in COVID-19 infections across the country. All malls, restaurants, cafes, cinemas, event and wedding halls, swimming pools and gyms will be […]
