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  • Investors Iraq News's Avatar
    Today, 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 | 11 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 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 | 19 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 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 | 18 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 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 | 19 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 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 | 19 view(s)
  • dollarsign's Avatar
    Yesterday, 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 | 3968 view(s)
  • Wolverine's Avatar
    Yesterday, 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 | 28 view(s)
  • Will-it-happen?'s Avatar
    Yesterday, 08:56 AM
    That link no work
    45 replies | 3968 view(s)
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