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  • Investors Iraq News's Avatar
    Yesterday, 09:34 AM
    By John Lee. Iraqi Oil Minister Jabar Ali al-Luaibi (pictured) has asked UK-based BP to develop the disputed Kirkuk oilfields. The move comes just a day after Baghdad regained control of the area from Kurdish forces. Control of the field remains split between the Kurdistan Regional Government (KRG) and Baghdad’s North Oil Company (NOC). According to the Financial Times, BP’s chief executive Bob Dudley said before lunchtime yesterday that he had not yet heard from the Iraqi oil minister, but indicated the company could be interested. (Sources: Ministry of Oil, Financial Times) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 35 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 09:34 AM
    Genel Energy has issued a trading and operations update for Q3 2017. The information has not been audited and may be subject to further review. Murat Özgül (pictured), Chief Executive of Genel, said: “During the quarter Genel executed a landmark settlement agreement with the KRG over historical receivables, which we expect to materially enhance our cash flows going forward. Ahead of those payments commencing we continued to generate meaningful free cash flow, resulting in a further 13% reduction in net debt during the period. “Our operations in the Kurdistan Region of Iraq are progressing as normal – exports are continuing from Taq Taq and Tawke, payments are being received on time, and operations are proceeding at both fields, with testing now underway on the TT-29w well.“ Q3 2017 OPERATING PERFORMANCE Q3 2017 net production averaged 33,810 bopd, with production for the nine months ending September 2017 averaging 36,030 bopd Production and sales by field during Q3 2017 were as follows: Tawke PSC (Genel 25% working interest) Tawke PSC production in Q3 averaged 110,460 bopd, including long-term test production from the Peshkabir-2 well of 4,670 bopd. In 2017 to date, the Tawke partners have drilled ten wells, including the Peshkabir-2 and 3 wells, four Cretaceous producers, three Jeribe producers and a Jeribe water injector A further four development wells are planned on the Tawke PSC by year-end 2017 – two Cretaceous producers, one Jeribe producer and a Jeribe water disposal well Peshkabir-3 well operations are ongoing, with results expected later in Q4. The Peshkabir early production facility remains on track to be installed by the end of 2017 Taq Taq PSC (Genel 44% working interest) Taq Taq field production in Q3 averaged 14,080 bopd, and production has averaged 13,570 bopd during October 2017 to date The TT-29w well, which is appraising the northern end of the Taq Taq field, reached target depth of 3,100 metres in early September 2017. A testing programme is now underway. Further development of the Cretaceous reservoir has been deferred pending results of the TT-29w testing programme The EDC-24 rig has moved to the TT-30 well location, with two shallow horizontal wells set to be drilled in the Pilaspi reservoir before the end of the year Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 35 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:21 AM
    Petrofac has been awarded a contract, valued at around US$30 million, to undertake Project Management Consultancy (PMC) services for the Halfaya Contract Area (Halfaya) in southern Iraq. Working in support of PetroChina International Iraq FZE (PetroChina), as the lead operator of Halfaya, Petrofac’s Engineering and Production Services (EPS) East business will undertake project management services for five years. Petrofac is responsible for managing and supervising the development and progress of several engineering, procurement and construction work scopes including: the central processing facility, power plant expansion, gas process plant and all associated facilities. For each work scope, activities will include the management of detailed design, procurement, construction and commissioning. Manivannan Rajapathy, Managing Director, Petrofac EPS East said: “This important award reflects our growing capabilities in a core market. Through the provision of PMC services, we are demonstrating our competence and capabilities to oversee large programmes of work. This builds upon our long track record for in-country execution for existing clients, through the delivery of engineering, operations, maintenance and training activities. “We are pleased to have the opportunity to support PetroChina and the Halfaya partners in the delivery of this key infrastructure project. Our focus is to support sustained production, through the successful conclusion of each phase, towards the overall production plateau target of around 400,000 barrels per day.” (Source: Petrofac) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 36 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:21 AM
    Russian state-controlled oil company Rosneft and the Government of the Kurdish Autonomous Region of Iraq signed the documents required to put into force Production Sharing Agreements (PSA) with respect to five production blocks located in the Kurdish Autonomous Region. The share of Rosneft Group Subsidiaries in PSA will be 80%, the amount of payments for the projects farm-in and geological information for each of* five blocks ranges from 40 mln. USD *to 110 mln. USD and may total to 400 mln.USD (incl. 200 mln.USD that can be compensated by oil produced from block), the heads of terms of the agreements and the basic principles of product distribution are similar to the PSA in Iraqi Kurdistan that were signed by other international oil and gas companies. The parties agreed to implement the geological exploration program and to start pilot production as early as in 2018. In case of success, in 2021 it is planned to start full-field development of the blocks. According to conservative estimates, the total recoverable oil reserves at five blocks may be about 670 million barrels. The documents were signed in pursuance of the Investment Agreement which was concluded at the St. Petersburg International Economic Forum in 2017. (Source: Rosneft) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 34 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:21 AM
    By*Dr. Olgu Okumu? for*Al-Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. On Sept. 28, when Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan jointly stated their support for the sovereignty and territorial integrity of Iraq, they also made a point of stressing their countries’ continued commitment to two joint mega energy projects: the Turkish Stream gas pipeline and the Akkuyu nuclear power plant. The success of these projects would diminish the importance of the Kurdistan Regional Government (KRG) as a regional economic actor, pushing the significance of its oil and gas resources into the background. Given the KRG’s apparent hope to leverage such resources as part of a continued drive for independence — a drive Erdogan has said would lead to “even more serious mistakes” by the KRG — Erdogan and Putin’s joint statements are worthy of increased scrutiny. This was*the second visit by the Russian leader to Turkey since the improvement in relations that has taken place*after ties suffered a major blow when Turkish forces shot*down a Russian jet in November 2015. Putin’s first visit, in October*2016, was also energy-inspired, as it occurred at Erdogan’s invitation to participate in the*23rd World Energy Congress. Last week’s meeting was labeled a “solely pragmatic*meeting” by the Kremlin, because it covered several essential bilateral trade issues,*such as*Turkey’s purchase of Russia’s S-400 missile system, Russia’s embargo on*Turkish tomatoes*and the two countries’ joint energy projects. At the leaders’ press conference, they stressed their discussions on energy projects, while also*commenting on international security issues such as Syria and the KRG*independence referendum. Turkey*needs a cooler relationship with the KRG. Since*January 2013, the Turkish-British joint venture Genel Energy’s truck-based deliveries from the KRG have been bypassing the Baghdad-controlled Kirkuk-Yumurtalik oil pipeline; the oil has*instead been going to Turkey’s*Ceyhan port on the Mediterranean Sea. This had already prompted concerns about the KRG’s drive for economic and political independence, and pushed*Ankara*into*the middle of an international diplomatic crisis. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 36 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:21 AM
    U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Tuesday, conducting seven strikes consisting of eight engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, coalition military forces conducted two strikes consisting of three engagements against ISIS targets near Abu Kamal yesterday. The strikes engaged an ISIS tactical unit and destroyed two vehicle-borne-bomb factories and an ISIS headquarters. Officials also provided details today about three strikes consisting of three engagements conducted Oct. 16 near Raqqa for which the information was not available in time for yesterday’s report. The strikes suppressed three ISIS communication lines. Strikes in Iraq In Iraq, coalition military forces conducted five strikes consisting of five engagements yesterday against ISIS targets: Near Qaim, two strikes destroyed three ISIS vehicle-borne-bomb factories, an ISIS-held building and a munition production and storage facility. Near Beiji, two strikes destroyed an ISIS vehicle-borne bomb and an ISIS tunnel. Near Rawa, a strike engaged one ISIS tactical unit. Part of Operation Inherent Resolve These strikes were conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said. The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect. For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said. The task force does not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 36 view(s)
  • Lenmon's Avatar
    10-18-2017, 06:49 PM
    got my stock portfolio today, i requested it on the 16th
    14 replies | 1245 view(s)
  • Lenmon's Avatar
    10-18-2017, 06:44 PM
    I sent on 10/16 Dear Sir, Please find attached your updated stock statement for your stocks and shares held under the name of our proxy company. Best regards, ISX Department Warka Bank for Investment and Finance
    0 replies | 66 view(s)
  • Investors Iraq News's Avatar
    10-18-2017, 06:57 AM
    By John Lee. The State Company for Glass & Refractories Industry (SCG&R), one of the Ministry of Industry and Minerals (MIM) companies, has announced an following investment opportunity at the following factories: Rehabilitation & operation of Ceramic Wall Tiles Factory Rehabilitation & operation of Ceramic Floor Tiles Factory Rehabilitation & operation of Ceramic Sanitary Ware Factory Full details available here. (Source: National Investment Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 45 view(s)
  • Investors Iraq News's Avatar
    10-18-2017, 06:57 AM
    US-based security company Triple Canopy has agreed to pay $2.6 million to settle civil False Claims Act allegations that the company submitted false claims for payment to the Department of Defense for unqualified security guards stationed in Iraq. “Contractors must be held accountable for their actions, especially when the safety of government personnel is at stake” said Dana J. Boente, U.S. Attorney for the Eastern District of Virginia. “This settlement should remind contractors of the high value we place on safeguarding our personnel abroad.” The allegations stem from Triple Canopy’s one-year contract with the Joint Contracting Command in Iraq (JCC-I), an entity established to provide contracting support related to the government’s relief and reconstruction efforts in Iraq. Under the 2009 contract, Triple Canopy was required to perform a variety of security services at Al Asad Airbase, the second largest air base in Iraq.*** The government’s complaint in intervention alleges that Triple Canopy knowingly billed the United States for security guards who could not pass contractually required firearms proficiency tests. The tests were designed by the Army to ensure that the guards hired to protect U.S. and allied personnel were capable of firing their assigned weapons safely and accurately. The government further alleges that Triple Canopy concealed the guards’ inability to satisfy the firearms testing requirements by creating false test scorecards that Triple Canopy was required to maintain for government review, in an effort to induce the government to pay for the unqualified guards.**** Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 48 view(s)
  • Investors Iraq News's Avatar
    10-18-2017, 06:57 AM
    Ali Akbar Velayati, a senior member of Iran’s Expediency Council, rejected the notion that the Islamic Republic helped the central government in neighboring Iraq to take full control over the disputed region of Kirkuk, which was previously held by Kurdish Peshmerga forces. “Iran has no role in the Kirkuk operation,” Velayati told reporters on the sidelines of his meeting with Special Envoy of France to Syria Franck Gellet in Tehran on Tuesday. He further pointed to the independence referendum recently held in Iraq’s semi-autonomous Kurdistan Region and said the majority of Iraq’s Kurdish people are opposed to the ambitions of Kurdistan Regional Government (KRG) President Masoud Barzani. “We saw that the region (Kirkuk) was captured by the Baghdad government almost without any clashes,” said Velayati, who is also an international adviser to the Leader of the Islamic Revolution. Iraqi forces completed an operation to take control of all oil fields operated by state-owned North Oil Company in the Kirkuk region on Tuesday, according to a senior military officer. They took control of the Bai Hasan and Avana oil fields northwest of Kirkuk on Tuesday, after seizing the Baba Gurgur, Jambur and Khabbaz fields on Monday, he said, Reuters reported. Oil officials in Baghdad said all the fields were operating normally. The fields were previously held by Kurdish Peshmerga forces, but they pulled out of the area in the face of an advance by forces of the Iraqi central government. Tuesday’s deployment of Iraqi government forces in Dibis, where Bai Hasan and Avana are located, is part of an operation ordered by Prime Minister Haider al-Abadi to take control of Kurdish-held areas outside the three provinces that form Iraq’s semi-autonomous Kurdish region. The latest incidents come amid simmering tensions between the central government in Baghdad and the KRG over a recent controversial referendum on the secession of the semi-autonomous Iraqi Kurdish region. The plebiscite took place on September 25, sparking strong objection from Baghdad. Iraq’s neighbors and the international community also voiced concerns about the repercussions of the vote, which was only supported by Israel. Kirkuk, with some 10 percent of Iraq’s oil reserves, has long been contested by Baghdad and Erbil. (Source: Tasnim, under Creative Commons licence) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 52 view(s)
  • Investors Iraq News's Avatar
    10-18-2017, 06:57 AM
    By*Zep Kalb for*Al-Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iran Business News. In the aftermath of the US-led invasion of Iraq in 2003, the country’s educational system all but collapsed. Illiteracy rates have exploded. Universities have turned into sectarian battlegrounds. Systemic violence — including beatings, rape and death threats — has forced students and faculty out of campuses. As state provision of higher education has receded, private donors have set up alternative institutions, often with a sectarian and religious twist. Foreign actors have also stepped in to fill the void. Before the US-led invasion, education indicators in oil-rich, Baathist-controlled Iraq improved similarly as in other middle-income countries, and in several ways even more so. The country’s first university, Baghdad University, opened its doors in 1957. In 1968, the government made education free and compulsory at all levels. In 1977, the eradication of illiteracy was made legally binding. The developmental push appeared to be working. By 1980, Iraq had already achieved near universal primary school enrollment. Saddam Hussein’s devastating eight-year war with Iran in the 1980s and the sanctions imposed by the West over his invasion of Kuwait in the 1990s slowed these gains. By 2000, the literacy rate of youth aged 15-24 years old stood at 84.8%, slightly higher than that of regional neighbor Egypt. The gender gap was also narrowing: Female literacy rates stood at 80.5% in 2000, a figure Egypt reached only in 2006. At the same time, underinvestment in education by a cash-strapped government led to an aged and creaking infrastructure. For all its ills, the collapse of the Baathist regime in 2003 and its replacement with a US-installed government wrecked*the country’s educational system. Junior, inexperienced American officers who failed to understand the complexities of maintaining peace between the sects were put in charge of higher education. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 53 view(s)
  • Investors Iraq News's Avatar
    10-18-2017, 06:57 AM
    By Hamdi Malik for*Al-Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. The Sept. 25 referendum, in which voters overwhelmingly voted for independence for Iraqi Kurdistan, increased the division between the Turkmen and Kurdish populations in the disputed city of Kirkuk. But Turkmens believe the Kurdish move, which raised objections from several parties, offers an opportunity to strengthen their position in Iraq. Turkmens reported intimidation and repeated attacks on their party in Kirkuk both before and after the referendum. On Oct. 2, someone reportedly fired on the party headquarters and even lobbed a grenade at the building. Turkmen parliament member Hassan Tauran confirmed the news in a TV interview, adding, “This is the fifth attack during the week that followed the referendum.” Turkmens strongly oppose the Kurdistan Regional Government’s efforts to annex Kirkuk and other mixed-population areas, and they hold the Kurdish side responsible for the attacks. On Sept. 19, Turkmen parliament member Jassim Mohammed al-Bayati accused what he called the “gangs” of Kirkuk’s Kurdish governor of kidnapping a young Turkmen. But it is difficult to get to the truth behind these attacks amid the tension plaguing the city. Kurdish forces affiliated with the Patriotic Union of Kurdistan gained full security and military control over the city after June 2014, when the Iraqi army’s 12th division withdrew in the face of the Islamic State’s overwhelming advance. Turkmens are the third-largest ethnic group in Iraq and say they have been denied their rights since Saddam Hussein was overthrown as president in 2003. Part of the problem is the deep sectarian conflict between Sunni and Shiite Turkmens that kept them from forming unified political blocs. When the new regime based on sectarian and ethnic quotas was established in Iraq, the Turkmens lacked the political experience of the Shiites and Kurds. The Turkmens have been involved in sectarian strife in many areas, particularly in Tal Afar, reaching the point of military clashes. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 52 view(s)
  • Investors Iraq News's Avatar
    10-18-2017, 06:57 AM
    By Bijan Khajehpour, for*Al-Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. Iran and the Kurdistan Regional Government (KRG) in Iraq have historically been on good terms. During the Saddam Hussein years, Iran was one of the main countries to host Kurdish leaders. In the post-Saddam era, Tehran and Erbil have enjoyed good neighborly relations. This relationship manifested itself in Iranian forces coming to the rescue of the Kurdish regions in their fight against the Islamic State (IS) in the summer of 2014. However, the recent independence referendum in the KRG has angered Tehran, and it is clear that the Kurdish moves will impact on both bilateral ties and wider regional alignments. One important aspect to consider when assessing*the fallout between Iran and the KRG following the independence vote is the economic dimension of their relationship in the geostrategic context of Iranian concerns. Iran and the KRG have a multilayered relationship; most importantly, it is not all driven by the government. On the one hand, there are various trade links between the two sides, starting from very active border markets up to cross-border trade and investment. There are five border markets between Iran and*Iraqi Kurdistan. Prior to the recent events, there were plans to expand such entities*to create jobs and also shift the unofficial trade toward official*channels. In fact, the KRG is an important market for Iranian exporters. The trade volume between the two sides amounted to $8 billion in 2014, which made Iran the KRG’s second-largest trading partner, after Turkey. In recent years, Iranian exports to the Kurdistan Region*have dropped due to the conflict against IS. Yet, according to Kurdish sources, the trade volume between Iran and the KRG stood at $4 billion in 2016. This means that approximately 40% of the Iran-Iraq trade goes through the KRG. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 68 view(s)
  • Investors Iraq News's Avatar
    10-17-2017, 11:30 PM
    U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria, conducting three strikes consisting of three engagements in recent days, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of the strikes, noting that assessments of results are based on initial reports. Strike in Syria In Syria, coalition military forces conducted one strike consisting of one engagement Oct. 15 near Dayr Az Zawr, engaging an ISIS tactical unit and destroyed two fighting positions. Strikes in Iraq In Iraq yesterday, coalition military forces conducted two strikes consisting of two engagements against ISIS targets: Near Rahwa, a strike engaged an ISIS tactical unit and destroyed an improvised explosive device weapons facility. Near Qaim, a strike destroyed a vehicle-borne-IED factory. Part of Operation Inherent Resolve These strikes were conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said. The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect. For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said. The task force does not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 49 view(s)
  • Investors Iraq News's Avatar
    10-17-2017, 11:10 AM
    By John Lee. Iraq is reportedly considering using security forces to prevent Kurdistan from blocking oil output from Kirkuk. A spokesman for the North Oil Company (NOC) told Reuters that Kurdish officials indicated that they would shut down production at the Kirkuk oilfield, ostensibly for security reasons, but as a means of putting pressure on Baghdad. Kirkuk produces around 200,000 barrels per day, out of total Kurdish production of over 600,000 bpd. More from Reuters here. (Source: Reuters) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 53 view(s)
  • Investors Iraq News's Avatar
    10-17-2017, 11:10 AM
    Federal forces in control of large areas of Kirkuk city; further Kurdish withdrawals in Nineveh/Diyala Over the course of October 16, Iraqi federal forces advanced into many parts of Kirkuk city and adjacent military and energy facilities. The Counter-Terrorism Service (CTS), supported by the Iraqi Army and Federal Police took control of the K1 military base, the governor’s palace, the Kirkuk Provincial Council headquarters, the North Oil Company and North Gas Company headquarters, the Kirkuk Regional Air Base, and key areas of Kirkuk city and road junctions. While Popular Mobilization Units (PMU) took part in operations in rural areas, they were not deployed into the Kirkuk city area.* Local Kurdish forces aligned with the Patriotic Union of Kurdistan (PUK) offered minimal resistance as federal forces moved into the area, many media reports have focused on an agreement in place between the PUK leadership and Baghdad for an orderly transfer of the facilities listed. As a result, Baghdad is now in control of the portions of PUK-controlled Kirkuk that it held prior to the 2014 military collapse.** Government forces were also reported to have moved into the oil fields of Dibis district that have been held by forces loyal to the Kurdistan Democratic Party (KDP) since 2014. These fields produce 275,000 barrels of oil per day, or nearly half the 620,000-barrel output of the Kurdistan Regional Government (KRG). Some media reports claimed that thousands of Kurdish civilians have fled Kirkuk city and its surrounding area.* Other reports claimed that crowds of ethnic Turkmen who opposed Kurdish control of the city celebrated on the streets of Kirkuk.* The US has not opposed Baghdad’s return to Kirkuk in part because the move was framed in terms of restoring the status quo before the Islamic State (IS) crisis.* This theme has been echoed by the majority of the international community. Separate unconfirmed reporting has indicated that Sinjar, 100km west of Mosul in Nineveh province, is now under the control of ISF/PMU forces following the withdrawal of Peshmerga forces from the town. Reporting on October 16 had indicated a build-up of government forces to the south and east of Sinjar. Reporting last night indicated that talks were underway for a peaceful handover. Yazidi elements of the region’s majority Shia PMU forces had apparently stated their unwillingness to confront Peshmerga owing to the close ties between the groups.* Reports from Diyala province have also claimed that Kurdish forces have withdrawn from positions in the Mandali district northeast of Baquba as Iraqi federal forces entered Khanaqin district to the south of Mandali. (Source: GardaWorld) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 53 view(s)
  • Investors Iraq News's Avatar
    10-17-2017, 11:10 AM
    Coalition military officials are monitoring military movements near Kirkuk, Iraq, following reports of an incident, Pentagon Director of Press Operations Army Col. Rob Manning told reporters today. “The coalition is monitoring movements of military vehicles and personnel in the vicinity of Kirkuk, he said. “These movements of military vehicles so far have been coordinated movements, not attacks.” Coalition forces and advisers are not supporting the activities of Iraqi government or Kurdistan Regional Government forces near Kirkuk, Manning said. “We are aware of reports of a limited exchange of fire during the predawn hours , and we believe this to have been an isolated incident,” he said of media reports of fighting between Iraqi and Kurdish fighters. “We have not seen levels of violence suggested in some media reports,” he said, adding that the coalition strongly urges all sides to avoid additional escalatory actions, opposes violence from any party, and urges against destabilizing actions that distract from the fight against ISIS and undermine Iraq’s stability. Support for Unified Iraq The United States continues to support a unified Iraq, Manning said. “Despite the Kurdistan Regional Government’s unfortunate decision to pursue a unilateral referendum, dialogue remains the best option to diffuse ongoing tensions and long-standing issues,” he noted. The Defense Department remains focused on the fight against ISIS, a terrorist organization that threatens the states in the region and the international community, Manning said. “We call on all actions in the region to focus on this common threat, and avoid stoking tensions among the Iraqi people. We remain focused on destroying ISIS,” he said. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 57 view(s)
  • Investors Iraq News's Avatar
    10-17-2017, 11:10 AM
    From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Peshmerga fighters and civilian residents flee Kurdish areas around Kirkuk after Iraqi military forces gained control of the northern city. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 55 view(s)
  • Investors Iraq News's Avatar
    10-17-2017, 11:10 AM
    U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Sunday, conducting ten strikes consisting of 11 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, coalition military forces conducted two strikes consisting of two engagements against ISIS targets: Near Ash Shadaddi, a strike engaged an ISIS tactical unit and destroyed a fighting position. Near Dayr Az Zawr, a strike engaged an ISIS tactical unit and destroyed a tactical vehicle. Strikes in Iraq In Iraq, coalition military forces conducted eight strikes consisting of nine engagements against ISIS targets: Near Qaim, four strikes engaged an ISIS tactical unit and destroyed five supply routes, two vehicle-bomb factories and an ISIS-held building. Near Rutba, two strikes engaged two ISIS tactical units and destroyed three vehicles. Near Rawa, a strike destroyed two command-and-control nodes and an anti-air artillery system. Near Tuz, a strike engaged an ISIS tactical unit and destroyed a tunnel. Additionally, officials announced details today of an Oct. 14 strike near Qaim for which the information was not previously available. The strike destroyed five ISIS supply routes and a tunnel entrance. Part of Operation Inherent Resolve These strikes are conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said. The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted. Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect. For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said. The task force does not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target. (Source: US Dept of Defense) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 56 view(s)
  • Will-it-happen?'s Avatar
    10-16-2017, 09:43 PM
    Fantastic Where's the cash ?
    14 replies | 1245 view(s)
  • Wolverine's Avatar
    10-16-2017, 12:56 PM
    Petrochina expresses interest in Iraq's Nassiriya refinery 10/13/2017 BAGHDAD (Reuters) — Petrochina has expressed interest in developing the Nassiriya oil refinery in southern Iraq, the oil ministry said in a statement on Friday. A Petrochina executive expressed the company’s interest at a meeting with Oil Minister Jabar al-Luaibi in Baghdad. The refinery is part of a larger project to develop the Nassiriya region’s oil and gas reserves. The plan provides for increasing the fields’ output and the processing of their production at the new Nassiriya refinery, and to recover the associated gas to supply power stations or process it for exports. Reporting by Maher Chmaytelli; editing by Jason Neely
    0 replies | 79 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 11:58 AM
    By John Lee. Iraqi armed forces have reportedly captured the headquarters for the North Oil Company (NOC), northwest of Kirkuk, from Kurdish forces, without fighting. A Kirkuk-based official told Reuters that the Baghdad’s forces had also taken control of the K1 airbase and were deploying in the Baba Gurgur field and the North Oil refinery. Read more here. (Source: Reuters) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 60 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 11:58 AM
    DNO ASA, the Norwegian oil and gas operator, today reported the first payment from the Kurdistan Regional Government under the recently concluded agreement covering outstanding receivables for past crude oil deliveries. Under the agreement effective 1 August 2017, the Company was assigned the Government’s 20 percent interest in the Tawke license as well as three percent of gross Tawke license revenues payable monthly over a five-year period. The payment of USD 4.02 million to DNO represents three percent of gross Tawke license revenues during August. An entitlement invoice for that month’s export deliveries has been issued separately and will be shared pro-rata with Genel Energy plc upon receipt. Following the receivables settlement, DNO’s stake in the Tawke license stands at 75 percent with Genel holding the balance. (Source: DNO) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 57 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 11:58 AM
    Iraqi Security Forces (ISF), Counterterrorism Services (CTS), Federal Police (FP), and Popular Mobilization Units (PMU) launched a combined offensive with intent to seize the K1 military base, Kirkuk airport, and Kirkuk’s oilfields at around 0200hrs (local) on October 16. The offensive followed two days of failed negotiations after the government of Iraq demanded Kurdish forces withdraw from the disputed areas around Kirkuk and cede control to Iraqi federal forces. Crisis talks on October 15 failed to resolve the standoff as Kurdish leaders refused Iraqi government demands to reject the referendum result. Clashes were subsequently reported to have broken out between Iraqi and Kurdish forces south of the city of Kirkuk. Iraqi state media said that federal troops had entered disputed territories occupied by the Kurds, saying they had taken control of ‘vast areas’ without opposition from the Kurdish Peshmerga. Kurdish officials, however, denied that the Iraqi forces had been able to get close to Kirkuk city and said that the oil fields west of the city were still under Kurdish control. The Kurdistan Region Security Council (KRSC) said in a statement that federal forces were advancing along two routes along the Taza-Kirkuk intersection and Maryam Bag Bridge, both South of Kirkuk. Separate reports claimed artillery fire could be heard to the south of Kirkuk city in the early hours.* An initial statement by the US state department said it was ‘very concerned’ about reports of a confrontation and was ‘monitoring the situation in Kirkuk closely’. Oil prices reported to have jumped early on October 16 amid reports of the clashes in Kirkuk. (Source: GardaWorld) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 57 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 11:58 AM
    On Thursday 12th October a delegation of IBBC Members, led by Baroness Nicholson, Honorary President, met with H. E. Mr Asaad A., the recently appointed Governor of Basrah. The meeting took place in the Governor’s office, included a Lunch and lasted until the early evening. The Governor presented his plans for Basrah and asked the company representatives how they could contribute to help achieve his ambitious objectives. IBBC members used the opportunity to introduce their companies and their services to the Governor and to participate in a wide ranging discussion with him. Mr Rasmi Al Jabri, Deputy Chairman of IBBC, who facilitated the meeting was delighted with its many outcomes. He said that with Mr Edani at the helm of the Governorate the Province had a real chance to develop and modernise. He further commented that IBBC and all of its members stood ready to support Governor in his crucial work. The IBBC delegation included representatives of the following companies: Basrah Engineering Group, Basrah Chamber of Commerce, Dar Al-Handasah, Ernst & Young, Garda World, Gulftainer, International Islamic Bank, Khudairi Group, Pell Frischmann, Penspen, Petrofac, Raatba Contracting Company, Restrata, Rumaila Operating Organisation (ROO) and Solar Turbines. The meeting was also attended by Dr Ali Nasir and Phil Sherwood of the AMAR foundation. (Source: IBBC) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 53 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 11:58 AM
    Iran reported to have shut crossing with Kurdish region; subsequently denied by Iran Reports on October 15 claimed that the Iranian authorities shut a main border crossing with the Kurdish region amid increased tensions. Ali Tawfiq, director of the terminal in Sulaimaniyah province reported that the main border crossing at Bashmaq had been closed by the Iranian authorities; he added that no reason has been cited for the Iranian move. Iran has three main official crossings with the Kurdish region; Haji Omaran in Erbil Province and Parwezkhan, and Bashmaq in Sulaymaniyah province. Reports later on October 15 claimed that Iran’s Foreign Ministry subsequently denied reports that Tehran had closed its border crossings with the Kurdish region. (Source: GardaWorld) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 63 view(s)
  • Investors Iraq News's Avatar
    10-16-2017, 09:43 AM
    GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments across the country. Please click here to download the latest report free of charge. For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at daniel.matthews@garda.com Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 55 view(s)
  • haggisbasher's Avatar
    10-16-2017, 08:04 AM
    Been asking for CD and sent it to all warka e-mail addresses I have and just got a response form 3044 giving me totals of shares in good name and also shares with warka proxy account, and asked them to be transferred to good name.GOOD NEWS FOR WARKA RESPONSE.
    14 replies | 1245 view(s)
  • Investors Iraq News's Avatar
    10-14-2017, 06:03 PM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th Oct 2017). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD778 (+2.5%) / $795 (+2.1%) (weekly change) (-19.0% and -16.1% YTD change, respectively). The number of week traded shares was 14.4bn and the weekly trading volume was IQD20.2bn ($15.9mn). ISX Company Announcements Al-Bilad Islamic Bank for Investment & Finance (BLAD) will resume trading on Oct. 15, 2017, because the company fulfilled ISX request to explain why the prices have touched the lower limit in the two sessions (Oct. 5-8, 2017). The company announced that the shares of Mr. Abdul-Jalal Said Btti were offered to be sold based on a decision of the Badaa’a Court. Al-Ameen Financial Investment (VAMF) completed the capital increase procedures from IQD1.0bn to IQD1.5bn through 50% rights issue. Iraqi Engineering Works (IIEW) will hold AGM* on Oct. 15, 2017 to discuss and approve 2016 annual financial results. ISX suspended trading of IIEW starting Oct. 10, 2017. Ishtar Hotels (HISH) resumed trading on Oct. 9, 2017 after fulfilling ISC disclosure requirements and publishing 6M17 financial results. Gulf Commercial Bank (BGUC) held AGM* on Oct. 12, 2017 to discuss and approve 2016 annual financial results and distributing 1.96% cash dividend (IQD0.0196 dividend per share, 5.8% dividend yield). ISX suspended trading of BGUC starting Oct. 9, 2017. Modern Chemical Ind. (IMCI) will hold AGM* on Oct. 20, 2017 to discuss and approve 2016 annual financial results and distributing cash dividend. ISX will suspend trading of IMCI starting Oct. 17, 2017. Economy Bank (BEFI) sent to the ISX the CBI letter of Oct. 2, 2017 confirming its letter of Feb. 2, 2017 that the CBI has lifted the custody of BEFI and requested all relevant parties to settle their commitments with the new management to obtain all their financial rights as well as lifting the block on fixed and current assets so that the bank can resume its activities and fulfill its obligations. Mamoura Realestate Investment (SMRI) completed the capital increase procedures from IQD19.2bn to IQD 22.78bn through 15% rights and 3.6% bonus issues. Iraq Baghdad for General Transport (SBPT) resumed trading on Oct. 11, 2017 after discussing and approving 2016 annual financial results and deciding to distribute 130% cash dividends (IQD1.3 dividend per share, 9.3% dividend yield). Cross Transactions: 5.0bn shares of Baghdad Soft Drinks (IBSD) on Oct. 9, 2017, which represents 2.8% of IBSD capital. 1.25bn shares of Trans Iraq Bank for Investment (BTRI) on Oct, 9, 2017, which represents 0.47% of BTRI capital. 2.0bn shares of Al-Harir Money T. (MTAH) on Oct. 10, which represent 4.4% of MTAH capital. 2.0bn shares of Trans Iraq Bank for Investment (BTRI) on Oct. 12, 2017, which represents 0.75% of BTRI capital. 0.5bn shares of Cihan Bank for Islamic & Finance (BCIH) on Oct. 12, 2017, which represents 0.2% of BCIH capital. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 97 view(s)
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