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  • Wolverine's Avatar
    Today, 05:26 PM
    6659 replies | 395313 view(s)
  • Investors Iraq News's Avatar
    Today, 08:59 AM
    Genel Energy has announced that RPS Energy Consultants, as part of its work on the updated competent person’s reports (‘CPRs’) for the Bina Bawi and Miran West fields (Genel 100% and operator), has finalised its evaluation of the contingent gas resources at both assets: The RPS evaluation confirms a significant upgrade to the combined 2C gross (100% working interest (‘WI’)) raw gas resource estimate for the Bina Bawi and Miran West fields: The RPS assessment of the combined gross 2C raw gas resource for both fields now stands at 14,792 Bscf, a figure which excludes associated condensate volumes attributable to the upstream partners The RPS assessment of the combined gross 2C condensate volumes potentially recovered from raw gas production at both fields totals 137 MMstb As at end-2016 Genel’s reported 2C resources included net raw gas resources from Miran and Bina Bawi totalling 1,421 MMboe1, which related to Genel’s respective 80% and 75% interests in the Bina Bawi and Miran PSCs at that time In February 2017 the Company increased its interest in both PSCs to 100%, resulting in a combined pro-forma end-2016 Genel 2C resource of 1,815 MMboe (10,530 Bscf2) The 2018 RPS estimates of combined 2C resources from both fields have increased c.40% compared to the pro-forma end-2016 2C resource The revised Bina Bawi 1C gross raw gas resource estimate is more than 50% higher than the gas volume agreed to for the field under the Gas Lifting Agreement (‘GLA’). The revised Miran West 1C gross raw gas resource estimate is in line with the volume agreed to for the field in the GLA A comparison of the revised 2C gross contingent resource numbers for both fields and the Company’s end-2016 number, which was based on the 2013 RPS reports plus the addition of the Company’s assessment of non-hydrocarbon gases, is summarised in the following table. Further detail is provided in an appendix to this announcement. Gross (100% WI) 2C Contingent Resources Raw gas (Bscf) Previous Revised change Bina Bawi 6,472 8,230 27% Miran West 3,688 6,562 78% RPS’s updated analysis of the raw gas resources on both fields has benefitted from updated reservoir simulation modelling combined with analogue analysis jointly created and developed by the Company and Baker Hughes since the original reports were produced. As a consequence, the recovery factors for the gas reservoirs in both fields have, in most resource categories, been increased to reflect a better understanding of potential reservoir performance. Further appraisal activity, which is currently under consideration, could help refine reservoir performance and these recovery factor estimates. Volumes agreed under the GLAs total 2,800 Bscf from Bina Bawi, and 2,000 Bscf from Miran West over a 12 year period, consisting of a two year build-up period and 10 year plateau period. The revised 2C and 3C raw gas resources for both fields significantly exceed these volumes. Following the completion of the upstream field development plans (‘FDPs’), sufficient progress on the midstream facilities and sales gas export route, and subsequent final investment decision, the Company expects that a percentage of the contingent raw gas resources will be converted to reserves, dependent on the volumes set to be produced under the FDPs. * The upstream FDPs for the gas and oil fields in the Bina Bawi and Miran PSCs, which are being carried out by Baker Hughes, are expected to be completed shortly. RPS is continuing its evaluation of the oil bearing reservoirs at both fields, the results of which will be announced once finalised. Appendix Summary of Contingent Resources – Development unclarified (Gross 100% working interest basis) attributable to the Bina Bawi and Miran West fields as of 31 December 2017 Gross (100% WI) Contingent Resources Gross (100% WI) Contingent Resources BINA BAWI Raw gas (Bscf) Condensate (MMstb) MIRAN WEST Raw gas (Bscf) Condensate (MMstb) 1C 4,651 34 1C 1,967 18 2C 8,230 62 2C 6,562 75 3C 13,036 99 3C 18,429 233 1 Genel figure based on the 2013 RPS reports plus the addition of the Company’s assessment of non-hydrocarbon gases 2 Based on a conversion factor of 5.8 MMscf/bbl (Source: Genel Energy) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 28 view(s)
  • Investors Iraq News's Avatar
    Today, 01:05 AM
    By John Lee. Oil Minister Jabar Ali al-Luaibi has signed on Thursday a memorandum of understanding with BP to rehabilitate the oil fields in Kirkuk governorate. Michael Townsend, CEO of BP, said that the company is going to prepare the necessary studies to increase production at the Kirkuk oil fields to 750,000 bpd. The two men inspected the Kirkuk fields on Thursday and ordered a speeding-up of rehabilitation operations. (Source: Oil Ministry) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 36 view(s)
  • Investors Iraq News's Avatar
    Today, 01:05 AM
    By John Lee. US-based Chevron plans to resume drilling at the Sarta 3 block in Iraqi Kurdistan. According to a report from Bloomberg, the company had temporarily halted exploration work in October*after the Kurds*voted in favour of independence. Chevron acquired Reliance Exploration & Production DMCC‘s 80 percent interest and operatorship of the production sharing contracts (PSCs) covering the Rovi and Sarta blocks in 2012; Austria’s OMV holds of the other 20 percent interest. The blocks are located north of Erbil and cover a combined area of approximately 490 square miles (1,124 square kilometers). (Sources: Bloomberg, Reuters) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Investors Iraq News's Avatar
    Today, 01:05 AM
    This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. By Sarchin Salih. Kurdish Crises Drive Kurdish Investors to put their Money Elsewhere It’s not only Iraqi and international investors getting their money out of Iraqi Kurdistan. Financial and political problems are also leading locals to invest further south. Ahmad Ali is an Iraqi Kurdish businessman who’s been living in the Erbil province, in Iraqi Kurdistan, for years. In the past Ali often looked at the semi-autonomous northern region of Iraqi Kurdistan as the best place to invest his money. Not anymore. Currently Ali is looking into building a mall and supermarket in the Kirkuk province, outside of Iraqi Kurdistan’s official borders, at the cost of US$50 million. He is also working on a residential project in the southern province of Dhi Qar. “As an investor, I look for the best opportunities. I don’t care about geography,” Ali told NIQASH. “At the moment southern and central Iraq are the best places to put my money.” The market in Iraqi Kurdistan is dead right now, Ali says, thanks to the financial and political crisis here. “The last few years we have dealt with a financial crisis, a slowdown and a significant decline in investment,” Yassin Mahmoud Rashid, the spokesperson for the*Kurdistan Investors’*Union, told NIQASH. “About 20 percent of investors have now left this market thanks to a decline in demand and the losses being incurred by some projects.” In the past the Iraqi Kurdish government had guaranteed investment projects a steady supply of electricity and tax cuts for certain time periods, Rashid pointed out. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Investors Iraq News's Avatar
    Today, 01:05 AM
    The U.S. government strongly supports holding the Iraqi national elections in May 2018, in line with the Iraqi constitution. Postponing the elections would set a dangerous precedent, undermining the constitution and damaging Iraq’s long-term democratic development. To that end, the United States is providing assistance that will help ensure that all Iraqi voices are heard and counted, including the approximately 2.6 million Iraqis who remain displaced from their homes in the liberated areas. USAID is assisting in the training of local civil society groups in election monitoring and providing Iraq’s Independent High Electoral Commission (IHEC) with six elections advisors who will help IHEC strengthen its electoral systems, personnel, and processes in the following ways: Enfranchise internally displaced Iraqis by focusing on voter registration and ensuring electronic voting systems are effective. Improve provincial electoral administrative capacity to support voting in recently liberated areas. Help the new IHEC Board of Commissioners finalize a sound operational plan for the May 2018 elections. Support for Iraq’s democratic institutions is a key part of the United States’ ongoing commitment to a federal, democratic, prosperous, and unified Iraq. *By exercising their constitutional right to vote, Iraqis will signal their commitment to governance through peaceful processes rather than through violence. (Source: US Embassy in Baghdad) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 32 view(s)
  • calstar's Avatar
    Yesterday, 06:17 PM
    calstar replied to a thread Warka Bank news? in Warka Bank News
    Me too!!!!!
    2 replies | 159 view(s)
  • Wolverine's Avatar
    Yesterday, 03:16 PM
    Iraq and BP sign deal to boost Kirkuk crude output 1/18/2018 KIRKUK/BAGHDAD, Iraq, Jan 18 (Reuters) - Iraq signed a memorandum of understanding with BP on Thursday to boost production capacity at its northern Kirkuk oilfields, the country's oil ministry said in a statement. The oilfields were taken back under Baghdad's control last October after Iraqi government forces dislodged Kurdish fighters from the area. Oil Minister Jabar al-Luaibi and BP's president for the Middle East region, Michael Townshend, attended the signing ceremony at the Kirkuk office of the Iraqi state-run North Oil Company, which operates the fields, the ministry said. The agreement provides for BP to boost Kirkuk's output capacity to 750,000 barrels per day (bpd), more than twice existing capacity, the statement added, citing Townshend. "The company will carry out seismic survey operations and and studies to develop the fields," the ministry statement quoted the BP executive as saying. Luaibi initiated the talks with BP in October, only days after the Kurdish fighters were driven from the area. Oil exports from the field, transported by pipeline to Turkey, halted after the Iraqi military operation, which was conducted in retaliation against an independence referendum held on Sept. 25 by the semi-autonomous Kurdistan Regional Government (KRG). Iraq plans to start trucking crude from Kirkuk to Iran at the end of the month. BP had agreed in 2013 to help Baghdad to halt a huge decline in output from Kirkuk. The KRG took control of the Kirkuk region in 2014, when the Iraqi army collapsed in the face of Islamic State's sweeping advance in northern and western Iraq. The Kurdish move prevented the fields from falling into the hands of the militants. Iraq is the Organisation of Petroleum Exporting Countries' second-largest producer behind Saudi Arabia. Luaibi said on Saturday that Iraq oil output capacity is nearing 5 million bpd. However, it is currently producing 4.4 million bpd in compliance with an agreement between oil exporters to support crude prices. (Writing by Maher Chmaytelli; Editing by Gareth Jones and David Goodman) Kirkuk is one of the biggest and oldest oilfields in the Middle East, estimated to contain about 9 billion barrels of recoverable oil, according to BP. BP has provided technical assistance in the past to the North Oil to aid the redevelopment of the Kirkuk field.
    0 replies | 51 view(s)
  • Mo Dinar's Avatar
    Yesterday, 01:18 AM
    Mo Dinar replied to a thread Warka Bank news? in Warka Bank News
    Still trying to get an acknowledgement from Warka regarding my request to reset my account password for Online Banking... aaarrrgghh!
    2 replies | 159 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:10 AM
    By John Lee. The number of civilian contractors supporting U.S. and coalition operations in Iraq against the Islamic State has risen 37 percent from January 2017 to January 2018 — from 3,592 to 4,927 — according CENTCOM: Contractors supporting base operations rose from 564 contractors at the start of the period to 827 contractors currently; Contracted translators rose from 377 to 805; Contractors supporting logistics and maintenance rose from 1,156 to 1,480. More from Military Times here. (Source: Military Times) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 51 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:10 AM
    As the Kurdistan Regional Government has promised, and to prove its commitment to transparency in the entire oil and gas sector of the Kurdistan Region, today the first report by the international auditing company, Deloitte, is released. The report, which includes verified numbers of export and sales of oil in the Kurdistan Region for the first six months of 2017, is available to the public. According to the validated numbers, the total revenue generated from oil sales is 3,328,211,119 US Dollars, after deducting expenses. The average oil sales price for that period was 41.29 $/bbl for exported barrel of oil through pipelines, at a time when average Dated Brent price was approximately 51.71 $/bbl. The auditing project was ordered by the Council of Ministers of the Kurdistan Regional Government through Decision No. (73) on 3rd of February 2016, as a continuation of Oil and Gas Law, and Oil and Gas Trust Fund Law. In a transparent process and in accordance with the World Bank guidelines, the Regional Council for Oil and Gas Affairs invited the Big Four international auditing firms in the world and consequently signed Master Service Agreements (“MSA”) with Deloitte and Ernst & Young, after following international tendering standards. According to the MSA’s, the oil and gas sector will be subject to audit, including the historical data. The Kurdistan Regional Government considers the auditing process as an important step for strengthening transparency in the oil and gas sector of the Kurdistan Region. The KRG has approved Deloitte’s recommendations to further enhance the processes and address any shortcomings. The KRG is also working to develop the accounting and auditing capabilities of the financial monitoring agencies in the Region, in order to empower them for future projects. This is the first time that reputable and major international companies audit the oil and gas sector in the Kurdistan Region. In the near future, the validated numbers for the second half of 2017, and for the past years will be released to the public. For further questions, contact information will be provided soon. Deloitte’s report for first six months of 2017 is accessible through this link (PDF format), in Kurdish, Arabic, and English. This link (PDF format) consists of 27 frequently asked questions in Kurdish, Arabic and English to help the readers better understand different sections of the report. This link (PDF format) includes a snapshot (info-graphics) regarding oil exports, local consumption and revenues in the Kurdistan Region, especially average daily exports and daily price of Kurdistan Region’s oil compared to Dated Brent price for the first six months of 2017 in Kurdish, Arabic and English. (Source: KRG) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 52 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:10 AM
    Iran’s president called for stronger banking relations with Iraq to allow for a growth in the bilateral trade and economic cooperation. In a meeting with Iraq’s parliament speaker in Tehran on Tuesday, President Hassan Rouhani said expansion of economic and trade ties between the two neighbors hinges on enhanced baking relations. The central banks of Iran and Iraq need to promote cooperation and keep working together to contribute to the bilateral trade, he added. The president also hailed the Iraqi government’s success to defeat terrorism and thwart the hostile plots to foment discord in the Arab country, reiterating Tehran’s support for an integrated Iraq and opposition to any change in the borders of regional countries. For his part, Iraq’s Parliament Speaker Salim al-Jabouri expressed gratitude to Iran for supporting his nation in the fight against terrorism. Iraq is at the beginning of a new era, and looks for continued support from Iran on the road to development and reconstruction, the speaker added. The Iraqi speaker is in Iran for the 13th Conference of the Parliamentary Union of the Organization of Islamic Cooperation Member States (PUIC). Iran, a close ally of Iraq, supported the Arab nation in the fight against Daesh (ISIL) since the terrorist group invaded Iraq in summer 2014. (Source: Tasnim, under Creative Commons licence) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 51 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:10 AM
    By John Lee. Genel Energy has announced that the Taq Taq partners have received a gross payment of $10.10 million from the Kurdistan Regional Government for oil sales during October 2017. Genel’s net share of the payment is $5.55 million. (Source: Genel Energy) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 49 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:10 AM
    By Mahmut Bozarslan for Al Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. The partnership Turkey, Iran and Iraq*formed against the Kurdistan Regional Government (KRG) independence referendum in September has*left Tehran pleased*but*left Ankara severely disappointed. Ankara had two basic expectations about*the partnership. First, Turkish officials*believed that a*new pipeline would be built to carry oil from Kirkuk,*Iraq, to Turkey’s Ceyhan oil terminal, replacing*a damaged line and*bypassing the KRG. And second, as an alternative to the border crossing from Habur, Turkey, into Iraq —*which provides lucrative income to the KRG —*a new border crossing to Iraq would open at Ovacik in Turkey. Ankara calculated that a crossing at*Ovacik, at the junction of Iraqi-Syrian-Turkish borders, would: Deprive the KRG of income from customs taxes. Provide a*shorter road connection*between Tal Afar and Mosul, which*features in Turkey’s “New Ottoman” dreams. Strengthen*relations with Turkmens and sever the*connection between the Kurdistan Workers*Party (PKK) at the Yazidi town of Sinjar*and the Kurdish Rojava region in northern Syria. Be linked to the main highway to Mosul with a 120-kilometer (75-mile) road upgraded to international standards and a new bridge to be built over the Tigris River. But the Ovacik project*has been shelved*and an alternative pipeline plan*—*involving Iran —*has emerged,*marginalizing the proposed new pipeline to move*oil from Kirkuk to Ceyhan. For three years, the*KRG*sold oil from the*Kirkuk-Ceyhan pipeline. But the central government in Baghdad took over the Kirkuk oil fields after the Kurds threatened in September to seek independence. On Oct. 16,*Baghdad implied*that the Kirkuk oil would be sent out via Turkey as in the past.*The pipeline had been used irregularly during the battle against the Islamic State (IS), and Baghdad cut off the flow completely*after the September independence referendum. Turkey expected the flow to*resume — but it hasn’t. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 42 view(s)
  • Lenmon's Avatar
    01-17-2018, 11:26 PM
    https://www.facebook.com/permalink.php?story_fbid=1322841997819893&id=125804980856940
    2 replies | 159 view(s)
  • jonas's Avatar
    01-17-2018, 07:20 PM
    jonas started a thread New Doc in Iraqi Bank Accounts
    Can anyone translate this document? https://www.imeib.com/upload/upfile/en/117.pdf
    0 replies | 96 view(s)
  • BatmaninIraq's Avatar
    01-17-2018, 06:10 AM
    Now It's moving..... LOOK AT THE EXCHANGE RATE
    46 replies | 5078 view(s)
  • Investors Iraq News's Avatar
    01-17-2018, 12:11 AM
    Iraq Business News is proud to announce that our Expert Blogger Ahmed Mousa Jiyad has just contributed to a major new book on the regulation of the upstream oil and gas industry. The second edition of Upstream Law and Regulation: A Global Guide, published by Globe Law and Business, summarises the upstream regulation and the key concerns in over 30 important and emerging oil and gas jurisdictions. Globe Law and Business offers IBN readers a 20% discount off the normal price. Please enter the code “IBNGLB” on the website checkout page to receive the discount. This fully updated new edition of the practical handbook, now in two volumes, takes an in-depth look at the most relevant petroleum provinces, summarising upstream regulation and key concerns in over 30 important and emerging oil and gas jurisdictions. Issues featured include the key terms of petroleum law, the types of legal arrangement in place, the fiscal terms, how to qualify to acquire acreage, governing law, dispute resolution mechanisms, decommissioning and governmental control. As a result, the book provides a comprehensive global resource for upstream investments. New areas of coverage for this edition include Algeria, Ecuador, Israel, Lebanon, Morocco and Oman. Mr Jiyad has written the chapter on Iraq, and we are sure that this will be an important resource for oil industry professionals with an interest in Iraq’s most important sector. Congratulations Ahmed! Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 69 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 04:20 PM
    Gulf Keystone Petroleum (GKP) has announced that a crude oil sales agreement has been signed between Gulf Keystone Petroleum International Ltd (“GKPI”), on behalf of the Shaikan contractors, and the Kurdistan Regional Government (KRG). Under the agreement, the KRG will purchase Shaikan crude oil at the monthly average Dated Brent oil price minus a total of c.$22 per barrel for quality discount, as well as domestic and international transportation costs. This discount is based on the same variables contained within other oil sales agreements in the Kurdistan Region of Iraq.* The majority of the Shaikan crude oil is currently being transported by truck from the Shaikan field to Fishkhabour, where it has been injected into the export pipeline to Turkey gradually since 15 November 2017, while the remainder is sold domestically.* The agreement is effective from 1 October 2017 until 31 December 2018.* GKPI will now invoice the KRG for oil sales for the months from October 2017 onwards on the basis of the realised netback price and net entitlement volumes in accordance with the Shaikan Production Sharing Contract, as amended by the 1st PSC Amendment in 2010 (“Shaikan PSC”). The Company continues its discussions with the KRG’s Ministry of Natural Resources (“MNR”) on the terms of a potential 2nd PSC Amendment. *The Company will inform the market of any material developments in this regard. (Source: GKP) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 55 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 04:20 PM
    By John Lee. Plans are reportedly progressing to launch a free ka-band satellite broadband service in Iraq in the second quarter of 2018. UK-based Quika promises the world’s first entirely free high-speed satellite internet for consumers in developing countries. Its free plan will be funded by paid-for services for enterprises and internet providers. According to Engadget, the company is led by the chief of satellite provider Talia. (Source: Engadget, Quika) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 53 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 04:20 PM
    Number of Returns Exceeds Number of Displaced Iraqis: UN Migration AgencyFor the first time since the beginning of the Iraq crisis in December 2013, the number of people returning to their area of origin has surpassed the number of people displaced in the country. Over the past four years, the country has been deeply affected by the conflict with ISIL, which led to the displacement of nearly six million people. Prime Minister Abadi announced Iraq’s victory over ISIL on 9 December 2017; by the end of 2017 IOM, the UN Migration Agency, identified 3.2 million people, who have returned back to their place of origin, while a staggering 2.6 million remained displaced. Following the improvement of the security situation in retaken areas, a sizable number of internally displaced Iraqis have returned to their location of origin, mainly to the Governorates of Anbar (38 per cent; more than 1.2 million people), Ninewa (30 per cent; nearly 975,000 people), and Salah al-Din (14 per cent; nearly 460,000 people). These three governorates were the worst affected by ISIL’s occupation, and count for 86 per cent of the current displaced population in the country. Shortly after the operation to retake Mosul was launched in October 2016, IOM Iraq constructed two emergency displacement sites, one in Haj Ali and one in Qayara, with combined capacity of sheltering 110,000 internally displaced persons (IDPs). The sites were constructed in partnership with the Government’s Ministry of Migration and Displacement; both sites are located in the southeast of Ninewa governorate. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 64 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 04:20 PM
    By Shelly Kittleson for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.* Two months after government forces retook Iraq’s last major city from the Islamic State (IS), the country is preparing for parliamentary elections slated for May. Anbar, its largest and westernmost region, is where IS took control of its first Iraqi city in January 2014. Fighters from the international terrorist group are reportedly still hiding in parts of its vast desert. How the shift from fighting a terrorist group with roots in the area to competition at the political level plays out will affect the years to come. Provincial Gov. Mohamed al-Halbusi, who took office in the fall, told Al-Monitor that voter turnout had been very low in the province for many years due to the fear of insurgents but that he expected this to change in the upcoming elections. Local officials, security forces and a tribal leader echoed that sentiment to Al-Monitor over a number of days in the province in early January.*“About 85%” of the province’s inhabitants are home, Halbusi said, and “I think about 60% of them will vote.” However, with many of the displaced still not back in their homes, some have called for the elections to be postponed. Recent reports of forced returns from internally displaced person (IDP) camps scattered around the Sunni-dominant Anbar region and elsewhere in the country have also raised concern. In an interview in Ramadi, provincial police chief Gen. Hadi Rizej Kessar told Al-Monitor, “We decided to close all IDP camps and send families back to their homes because the security is now good. But if we have some families that remain in the camps, we can arrange for them to vote inside the camps.” Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 56 view(s)
  • dollarsign's Avatar
    01-16-2018, 04:13 PM
    it's on the CBI site Will-it-happen, not sure what was up with the link, apologies... Based on the objectives of the strategic plan of the Central Bank of Iraq (2016-2020), including the aim of strengthening institutional relations, the Center for Banking Studies in the Central Bank of Iraq and in cooperation with the Iraqi Stock Exchange to implement a training program for staff of the Iraqi Fund for Foreign Development, which was the subject of Investment portfolios and trading in stocks, bonds and currency markets).The training program held in the Iraqi Stock Exchange will be in phases, starting with the first stage on 2018/1/14 and continuing until 2018/1/18. $
    45 replies | 4165 view(s)
  • Wolverine's Avatar
    01-16-2018, 03:35 PM
    Iraq nears oil output capacity of 5 MMbpd, committed to OPEC cuts 1/14/2018 ABU DHABI (Reuters) - Iraqi Oil Minister Jabar al-Luaibi said on Saturday that the OPEC member's oil output capacity is nearing 5 MMbpd, but the country will remain in full compliance with its output target under a global pact to cut supplies. Luaibi said the supply cut agreement between OPEC and non-OPEC producers should continue despite a rise in oil prices. "The market now is not 100 percent stable," he said at an industry conference in Abu Dhabi, adding that current oil prices could be sustained, but there might be some fluctuations. For the week, Brent crude rose 3.3 percent, while U.S. West Texas Intermediate (WTI) crude jumped 4.7 percent, having hit its hit its strongest since late 2014 at $64.77 on Thursday. The deal between the Organization of the Petroleum Exporting Countries and Russia to cut 1.8 MMbpd of crude, which started in January 2017, is due to last until the end of 2018. Luaibi said current Iraq's oil production is about 4.3 MMbpd. Despite the increase in oil production from the United States, "so far there is a balance" in the oil market, Luaibi said. "We are watching the market and the market is okay in terms of supply and demand balance. There’s still a gap, inventories are still high. The inventory level will decrease gradually and we will see how things will go," he told reporters. Luaibi also said that his ministry plans to conclude three contracts with international gas companies by mid-2018 to utilize gas from Basra, Maysan and Nassiriyah southern provinces. He said that by 2021, the country plans to "reach zero gas flaring". Iraq is forced to flare some of the gas produced alongside crude oil as it lacks the facilities needed to capture and process it into usable fuel. The country has just one gas processing company, the Basrah Gas Company, a joint venture between Iraq's state-run South Gas Co., Shell and Mitsubishi. OPEC’s second-largest crude producer after Saudi Arabia, Iraq is seeking to increase its oil and gas income, which account for nearly all its public budget. (Writing by Rania El Gamal; Editing by Alexander Smith)
    0 replies | 63 view(s)
  • Will-it-happen?'s Avatar
    01-16-2018, 08:56 AM
    That link no work
    45 replies | 4165 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 01:05 AM
    By John Lee. On 13th February 2018, and within series of events of the Kuwait International Conference of Iraq Reconstruction and Development, Kuwait Chamber of Commerce & Industry (KCCI) will organize jointly with Iraq’s National Investment Commission (NIC), the World Bank (WB) and the Kuwait Fund for Arab Economic Development (KFAED) a conference entitled Invest in Iraq which will be attended by investors from all over the world. Iraq shall present the feasibility studies and licenses for 60 key investment projects with total amount exceeds $ 85 billion. The WB will support such projects by offering guarantees, compensation of first loss, and markets exploration. This conference would be the first of its kind to be supported by the WB and targeting investments. Applications to attend will be received until 20:00 GMT on Wednesday, January 24th, 2018. More information, including the program, here. (Source: Kuwait Chamber) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 53 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 01:05 AM
    By John Lee. The ride-hailing service Careem has reportedly launched its services in Baghdad. According to Saudi Gazette, the Dubai-based company plans to expand to other cities across Iraq in the near future. (Sources: Saudi Gazette, Arabian Business) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 49 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 01:05 AM
    By John Lee. The Diyala State Company has announced an opportunity to invest in the production of Electronic Energy Meters. More details here. (Source: National Investment Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 49 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 01:05 AM
    Continued U.S. Assistance to Better Meet the Needs of Minorities in IraqThe United States Agency for International Development (USAID) and the United Nations Development Programme (UNDP) have agreed to increase assistance to Iraqis, particularly religious and ethnic minorities, to enable them to return to their homes in areas liberated from ISIS. Following Vice President Pence’s remarks in October of last year, USAID renegotiated the terms of its agreement to contribute to the UNDP Funding Facility for Stabilization (FFS) so that $55 million of a $75 million payment will address the needs of vulnerable religious and ethnic minority communities in Ninewa Province, especially those who have been victims of atrocities by ISIS. The modified agreement ensures that the U.S. contribution will help the populations of liberated areas in Ninewa Province resume normal lives by restoring services such as water, electricity, sewage, health, and education. The $75 million contribution is the first tranche of the $150 million announced for the FFS by U.S. Ambassador to Iraq Douglas Silliman in July 2017; fulfillment of the rest of that pledge will depend on UNDP’s success in putting in place additional accountability, transparency, and due-diligence measures for the FFS. USAID is also proceeding with a process called a Broad Agency Announcement to solicit innovative ideas that support the resettlement of ethnic and religious minorities in their ancestral homes in Iraq. The results of that competition will be available by early Spring. (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 66 view(s)
  • dollarsign's Avatar
    01-16-2018, 12:50 AM
    Progress... https://cbi.iq/news/view/561 ​$
    45 replies | 4165 view(s)
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