By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, confirmed on Thursday night that the State Oil Marketing Organization (SOMO) told the Turkish company BOTAS to resume export and loading operations at the Turkish port of Ceyhan (pictured), starting on Saturday, 13th May. He added that contracts have been finalized with international companies for the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 11th May 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Return RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,036.1 -1.2% 13.8% RSISX USD Index […]
The Kurdistan Regional Government (KRG) has reached an agreement with the Iraqi federal government on measures to allow the resumption of oil exports through Turkey. The Kurdistan Region's Ministry of Natural Resources announced in a statement that on 10 May Iraq's State Oil Marketing Organization (SOMO) officially requested Turkish authorities to allow the Kurdistan Region's […]
By John Lee. DNO, which operates the Tawke licence in Iraqi Kurdistan, has said on Thursday that, given the uncertain timing of oil export resumption from Iraqi Kurdistan and, importantly, of payments by the Kurdistan Regional Government (KRG) for previous oil sales, it has scaled back spend in Kurdistan, including drilling. In its statement of […]
By John Lee. Zain Iraq's Q1 2023 revenue increased by 15 percent to reach USD 223 million and EBITDA recorded was USD 76 million, reflecting an EBITDA margin of 34 percent, according to the company's results statement for the period. The operation reported eight-fold increase in net profit of USD 30 million for Q1 2023 […]
KRG Prime Minister receives a delegation from the US-Kurdistan Business Council Masrour Barzani, Prime Minister of the Kurdistan Regional Government (KRG), met with a delegation from the US-Kurdistan Business Council (USKBC) to discuss various topics of mutual interest. Led by David Tafuri, President of the US-Kurdistan Business Council, the delegation expressed their desire to expand […]
By John Lee. The Zet International Gate between the Kurdistan Region and Turkey will officially open later this week, following a year of collaboration between the two sides. The Supervisor of the Soran Independent Administration Halgurd Sheikh Najib told the Official website of Kurdistan Regional Government: "The Zet International Gate will be open for tourists […]
By John Lee. Iraqi Prime Minister, Mr. Mohammed S. Al-Sudani, has met with a group of scientists, inventors, innovators, researchers, university professors, and patent holders from diverse academic fields. The meeting aimed to discuss and explore proposals that could positively impact the country's economy and address various service and life-related challenges. During the gathering, the […]
By John Lee. A recent report has found that Iraq has potential to evolve into a talent supply hub for basic offshore jobs, mainly driven by its cost competitive labor force, operational Special Economic Zones, and low corporate tax rates. However, critical challenges, including political risks and lagging telecom and physical infrastructures, may threaten the […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, recently met with the Chairman and members of a consortium of Korean companies, led by Hyundai. The meeting, which included the General Manager of the State Company for Oil Projects (SCOP) and the General Manager of the Midland Refineries Company (MRC), focused on discussing the consortium's […]
By John Lee. During his visit to the southwestern province of Khuzestan, Iran's President Seyyed Ebrahim Raeisi marked the official commencement of operations for the Sohrab oil field. A statement from Iran's NIOC said: "Representing the National Iranian Oil Company (NIOC), the Petroleum Engineering and Development Company (PEDEC) is managing the project and the Dana […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has announced the restart of production, loading, and export operations from the Qayyarah oil field in Nineveh Governorate. The field has a capacity of 33,000 barrels per day (bpd). Tankers and rail will be used for transportation. Around 30,000 bpd will be exported to the ports […]
