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  • calstar's Avatar
    Today, 06:17 PM
    calstar replied to a thread Warka Bank news? in Warka Bank News
    Me too!!!!!
    2 replies | 89 view(s)
  • Wolverine's Avatar
    Today, 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 | 21 view(s)
  • Mo Dinar's Avatar
    Today, 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 | 89 view(s)
  • Investors Iraq News's Avatar
    Today, 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 | 26 view(s)
  • Investors Iraq News's Avatar
    Today, 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 | 28 view(s)
  • Investors Iraq News's Avatar
    Today, 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 | 28 view(s)
  • Investors Iraq News's Avatar
    Today, 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 | 28 view(s)
  • Investors Iraq News's Avatar
    Today, 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 | 26 view(s)
  • Lenmon's Avatar
    Yesterday, 11:26 PM
    https://www.facebook.com/permalink.php?story_fbid=1322841997819893&id=125804980856940
    2 replies | 89 view(s)
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