Financials and Investment News in Iraq

KRG Will Deposit Revenues of Oil Sale in Halkbank
5/23/2014 - Revenues from the first sale of oil piped from Iraqi Kurdistan will be deposited in Turkey's Halkbank, the autonomous region's government said in a statement. ...
Keystone Flags Revenue Uncertainty Due to KRG Delay
5/14/2014 - Oil explorer Gulf Keystone Petroleum warned a lag in payments for crude from its Shaikan oil field in Iraqi Kurdistan meant its revenue outlook was uncertain as it is still owed $24 million for oil sa...
Gulf Keystone to Raise US$250 Mln in Debt Offering
3/19/2014 - Gulf Keystone, an independent oil and gas exploration, development and production company with operations in the Kurdistan Region of Iraq, is pleased to announce that it has mandated Deutsche Bank and...
Lukoil Profit Falls on Write-Offs at Major Projects
2/19/2014 - Lukoil Russia's No.2 oil producer, posted worse-than-expected net profit in 2013, hit by write-offs at some major projects it once touted as the breakthrough finds to boost earnings. ...
Iraq Needs KRG Oil Income to Avert Budget Collapse
1/19/2014 - Iraq cannot finance its projected 2014 budget deficit unless the northern Kurdistan region pays its oil export revenue into the national treasury - or loses its share of state spending, a senior lawma...
Iraq Draft Budget Intensifies KRG Oil Export Row
1/15/2014 - Iraqi Kurdish ministers walked out of a cabinet session in protest at the country's draft 2014 budget, further complicating a feud over the autonomous region's plans to export crude via a new pipeline...
Baker Says Iraq Suspension Hit Fourth-Quarter Profit
1/10/2014 - Baker Hughes Inc, the world's third-largest oilfield services company, estimated fourth-quarter profit well below Wall Street expectations, largely due to the suspension of its operations in Iraq foll...
Dana Gas Prepared to Seize Kurdish Government Assets in Turkey
12/18/2013 - A consortium led by Emirati firm Dana Gas is prepared to get a Turkish court to seize assets belonging to the Kurdistan Regional Government in Iraq and enforce an arbitration claim, according to a sou...
ShaMaran Plans USD $150M Bond Placement
10/28/2013 - ShaMaran Petroleum Corp. (ShaMaran or the Corporation) (SNM) reports that it plans to issue a USD $150 million senior secured bond. Net proceeds from the bond will be used to fund the Company's future...
Citigroup May Fund Iraq-Jordan Oil Pipeline
7/4/2013 - Citigroup Inc. is among international banks seeking to finance a pipeline that Iraq plans to build to export crude oil and natural gas through neighboring Jordan, an official at the State Company for ...
Japan to Lend $1.24B to Iraq for Port & Refinery
6/12/2013 - Japan has offered its largest-ever loan to Iraq of about 120 billion yen ($1.24 billion) to build a new refinery and rebuild a port, the Nikkei said. ...
Iraq Says to Withold Payments for Kurdish Oil
12/22/2012 - Iraq will not pay oil companies operating in Kurdistan because the autonomous region has failed to export the volume of crude it pledged to, a spokesman for Hussain al-Shahristani, Iraq's deputy prime...
IEA Sees Relief for Energy Consumers
10/12/2012 - More oil supply and weaker demand over the next five years suggests oil prices will ease for consumers, the International Energy Agency said. ...
Shell Denies Talks with Kurds on Energy Projects
Shell Denies Talks with Kurds on Energy Projects 9/26/2012 - Royal Dutch Shell Plc (RDSA) isn’t in talks with authorities in Iraq’s semi-autonomous Kurdish region about energy projects in the northern area, an Iraqi government spokesman said. ...
Shell May Bid in Iraq's Fifth Oil Auction
Shell May Bid in Iraq's Fifth Oil Auction 9/7/2012 - Iraq has said it would provide better incentives to foreign oil and gas firms than it did in a previous tender in May. Not one Western major made a bid in that round, with only a handful of the 12 une...
Iraq Kurdistan Oil Export Restart May be Temporary
8/2/2012 - Iraq's semi-autonomous region of Kurdistan plans to halt oil exports on Aug. 31 if the central government does not make all outstanding payments, which could mean the proposed increase in Iraq's overa...
Halliburton Probing Angola & Iraq Operations
7/30/2012 - Halliburton Co. said that it had opened internal investigations into its Angola and Iraq operations’ compliance with a U.S. foreign bribery law and its own code of conduct. ...
Iraq, Kuwait Oil Exports Disrupted by Rough Weather
Iraq, Kuwait Oil Exports Disrupted by Rough Weather 6/4/2012 - Bad weather has disrupted oil exports from Iraq's southern offshore terminal and forced neighbouring Kuwait to halt all of its oil exports, a shipping source and government official said. Oil exports ...
Bad Weather Still Slowing Iraq Basra Oil Exports
6/4/2012 - Oil exports from Iraq's southern Basra terminals were still disrupted by a dust storm, with shipments cut to 1.41 million barrels per day (bpd) from 1.65 million bpd the previous day, a shipping sourc...
Iraq Oil Exports 2.452 Mln Bpd in May
Iraq Oil Exports 2.452 Mln Bpd in May 6/2/2012 - Iraq's oil exports were 2.452 million barrels per day on average in May compared with 2.508 million bpd in April, the oil ministry said. Exports from southern Basra were 2.086 million bpd in May while...

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