Federal government of Iraq

Genel Energy PLC: Trading and operations update

Retrieved on: 
Monday, December 25, 2023

Genel Energy plc ('Genel' or 'the Company') issues the following trading and operations update in respect of the third quarter and first nine months of 2023.

Key Points: 
  • Genel Energy plc ('Genel' or 'the Company') issues the following trading and operations update in respect of the third quarter and first nine months of 2023.
  • “Despite encouraging comments from senior politicians, the Iraq-Türkiye pipeline remains shut.
  • Good progress has been made in achieving consistency of domestic sales volumes, although pricing continues to be weak.
  • We remain confident that the pipeline exports will resume, and provide access again to international pricing.

Operational & Corporate Update

Retrieved on: 
Thursday, December 14, 2023

Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, today provides an operational and corporate update.

Key Points: 
  • Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, today provides an operational and corporate update.
  • Jon Harris, Gulf Keystone’s Chief Executive Officer, said:
    “We remain focused on preserving liquidity by maximising local sales, maintaining strict cost control and proactively managing accounts payable.
  • It is currently engaged in an independent non-executive director search process to ensure compliance.
  • However, the pace of the process has been controlled to reflect the Company’s current focus on cost reduction and liquidity preservation.

Iraq War whistleblowers announce $108.75 million settlement with KBR over accusations of fraud, waste and abuse of taxpayer funds in Iraq

Retrieved on: 
Thursday, July 6, 2023

NEW YORK, July 6, 2023 /PRNewswire/ --Two whistleblowers have announced that a 12-year litigation with KBR Services has been settled for $108.75 million, the largest cash settlement ever obtained in connection with alleged Iraq War fraud. Filed under the "qui tam" provisions of the False Claims Act, the lawsuit by former KBR employees Geoffrey Howard and Zella Hemphill Anderson alleged KBR defrauded the United States Army in connection with KBR's contract to supply troops in the War with property and materials. Despite widespread reports of billions of dollars in waste, fraud and abuse over the course of the War, no other case has successfully recovered such a substantial sum for alleged fraud.

Key Points: 
  • The settlement represents the largest recovery to date related to the Iraq War.
  • The case cites extensive evidence that KBR routinely lied to the Army, certifying that it had checked for excess material before ordering anew.
  • According to the whistleblowers, KBR was indifferent to this massive waste because the Army reimbursed KBR for all these unnecessary costs, plus profit.
  • The lawsuit alleges that KBR knowingly ordered $340 million of excess materials over the course of its performance.

EQS-News: Commerzbank Supervisory Board intends to appoint Jens Weidmann as new Chairman

Retrieved on: 
Wednesday, February 22, 2023

Today, the Supervisory Board of Commerzbank has declared unanimously that it intends to appoint Dr Jens Weidmann as its Chairman if Weidmann is elected to the Supervisory Board by the shareholders at the Annual General Meeting on 31 May 2023 as planned.

Key Points: 
  • Today, the Supervisory Board of Commerzbank has declared unanimously that it intends to appoint Dr Jens Weidmann as its Chairman if Weidmann is elected to the Supervisory Board by the shareholders at the Annual General Meeting on 31 May 2023 as planned.
  • The Chairman of the Supervisory Board, Helmut Gottschalk, who proposed Weidmann as his successor last November, explained: “I am pleased that my proposal has been met with broad approval by both the shareholders and the employees on the Supervisory Board.
  • It was important to me to find a widely respected personality for my succession, and Jens Weidmann stands for stability and independence.
  • The Supervisory Board has complied with this and nominated Dönges, who has been a member of the committee since 2020, and Christ, who is running for the first time, for the election.

Operational, Corporate & AGM Update

Retrieved on: 
Sunday, January 22, 2023

Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq (“KRI”), today provides an operational, corporate and AGM update.

Key Points: 
  • Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq (“KRI”), today provides an operational, corporate and AGM update.
  • Jaap Huijskes, GKP’s Non-Executive Chairman, has expressed his intention to retire from the Board following the 2023 AGM.
  • At the Company's Annual General Meeting ("AGM") held on 24 June 2022, all resolutions were successfully passed.
  • Substantially all the votes against resolutions 2 and 7 were from a single major shareholder, who voted against the re-election of the same Directors at the 2021 AGM.