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Survey Results – State of Iraq 2014 Oil Exports Up Despite Unrest Karbala, Najaf Plan Rail Link Lukoil to Increase Output at West Qurna-2
 
Survey Results – State of Iraq 2014

Survey Results – State of Iraq 2014

Throughout August 2014, Iraq Business News polled readers for their opinions on the state of Iraq. As expected, the results indicate a more challenging environment in the country over the preceding year. But while the sample size and methodology do not allow us to claim statistical significance, the results tend to show a long-term commitment […]

Oil Exports Up Despite Unrest

Oil Exports Up Despite Unrest

By John Lee. Reuters reports that oil exports from Iraq’s southern terminals are “close to a record high” in October. Kurdish shipments are also reported to be increasing, despite the continuing unrest in the country. Exports from the southern terminals have averaged 2.55 million bpd for the first 23 days of October, slightly up from […]

Karbala, Najaf Plan Rail Link

Karbala, Najaf Plan Rail Link

By John Lee. The provincial councils of Karbala [Karbala] and Najaf have agreed to connect the two cities by rail. According to a report from Aswat Al Iraq, it is expected that Chinese or South Korean companies will implement the project. The intention is to facilitate the transport between the two holy cities, particularly during […]

Lukoil to Increase Output at West Qurna-2

Lukoil to Increase Output at West Qurna-2

By Patrick M Schmidt. The Dubai-based division of the Russian oil company, Lukoil announced revise production figures for the West Qurna-2 fields. The company began production in March 2014 with an output of approximately 120,000 barrels of oil per day. Current production levels are now at 300,000 barrels of oil per day. It is expected […]

Survey Results – State of Iraq 2014

Survey Results – State of Iraq 2014

24 October 2014

Throughout August 2014, Iraq Business News polled readers for their opinions on the state of Iraq. As expected, the results indicate a more challenging environment in the country over the preceding year. But while the sample size and methodology do not allow us to claim statistical...

Read the full story

Posted in Blog, Industry & Trade, Oil & Gas, Security0 Comments

Oil Exports Up Despite Unrest

Oil Exports Up Despite Unrest

24 October 2014

By John Lee. Reuters reports that oil exports from Iraq's southern terminals are "close to a record high" in October. Kurdish shipments are also reported to be increasing, despite the continuing unrest in the country. Exports from the southern terminals have averaged 2.55 million bpd for...

Read the full story

Posted in Oil & Gas0 Comments

Karbala, Najaf Plan Rail Link

Karbala, Najaf Plan Rail Link

24 October 2014

By John Lee. The provincial councils of Karbala [Karbala] and Najaf have agreed to connect the two cities by rail. According to a report from Aswat Al Iraq, it is expected that Chinese or South Korean companies will implement the project. The intention is to facilitate the transport between...

Read the full story

Posted in Construction & Engineering, Transportation0 Comments

Lukoil to Increase Output at West Qurna-2

Lukoil to Increase Output at West Qurna-2

24 October 2014

By Patrick M Schmidt. The Dubai-based division of the Russian oil company, Lukoil announced revise production figures for the West Qurna-2 fields. The company began production in March 2014 with an output of approximately 120,000 barrels of oil per day. Current production levels are now at...

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Posted in Oil & Gas0 Comments

N. Ireland Man Fined for Iraq Scam

N. Ireland Man Fined for Iraq Scam

24 October 2014

By John Lee. A Northern-Irish businessman, who was jailed for stealing more than £500,000 in fraudulent VAT repayments, has been ordered to repay £113,472 or serve a further three years in prison. The man had claimed to be building water purification plants in Basra and Mosul, but didn’t...

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$240m Iraq Desalination Contract

$240m Iraq Desalination Contract

23 October 2014

By John Lee. A consortium has been awarded a $240-million engineering, procurement, and construction (EPC) order from Iraq's Ministry of Municipalities and Public Works to build pretreatment facilities at a desalination plant in Basra. Japan's Hitachi and Veolia Environnement of France have...

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Posted in Construction & Engineering, Public Works0 Comments

UN Launches $2.2bn Appeal for Iraq

UN Launches $2.2bn Appeal for Iraq

23 October 2014

The United Nations has launched a US$2.2 billion appeal to address the protection and humanitarian needs of 5.2 million people in conflict-affected Iraq. “The needs of the Iraqi people are immense,” Neill Wright, acting Humanitarian Coordinator for Iraq, said in Baghdad. “It’s imperative...

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Posted in Education & Training, Healthcare, SecurityComments Off

Defense Minister Outlines Priorities

Defense Minister Outlines Priorities

23 October 2014

By Patrick M Schmidt. After a conversation with American Defense Secretary Hagel, the new, Iraqi Minister of Defense Khaled al-Obeidi (pictured) reaffirmed his commitment to reform the Iraqi security forces in the face of the ongoing threat from the Islamic State (IS). He told Hagel that he...

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Video: The fight against ISIL

Video: The fight against ISIL

23 October 2014

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. As the US strikes ISIL targets in Iraq, we report from Irbil on the consequences of the latest foreign intervention:...

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Video: Blackwater Guards Convicted

Video: Blackwater Guards Convicted

23 October 2014

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Four former employees of the US security company Blackwater have been convicted of almost every charge related to the shootings of more than 30 unarmed Iraqi civilians...

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Currency Auction Results, 23rd Oct

Currency Auction Results, 23rd Oct

23 October 2014

By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Thursday. A total of $215,762,000 was sold  at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of...

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Posted in Banking & Finance0 Comments

Business Still Being done in Iraq

Business Still Being done in Iraq

23 October 2014

Despite media reports to the contrary, business is still being done in Iraq, and Iraq Business News is the place to learn about it. Some random examples from the past week include further progress and stage payments to Hanwha for the construction of the Bismaya New City housing development, a...

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Innospec Wins Iraq Legal Case

Innospec Wins Iraq Legal Case

22 October 2014

By John Lee. Innospec has announced the successful conclusion of a lawsuit brought against the company by Jalal Bezee Mejel Al-Gaood & Partner and Future Agencies Company Limited in connection with alleged loss of profits in Iraq. The matter had been filed in the High Court of Justice in...

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Posted in Industry & Trade0 Comments

Kurdistan Faces Landmine Challenge

Kurdistan Faces Landmine Challenge

22 October 2014

By Devin Morrow for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A small pile of stones in a field may look harmless to the casual observer, but they are a marker for a real danger in Iraqi Kurdistan. Land mines...

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Latvian Lingerie Maker Opens Iraq Store

Latvian Lingerie Maker Opens Iraq Store

22 October 2014

By John Lee. Latvian lingerie manufacturer New Rosme has reportedly opened its first store in Iraq, located in the city of Najaf. A spokesperson for the company said: "Although Najaf is one of the most religious cities in Iraq, where publicly exposing a woman's beauty is forbidden more than...

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Video: Schools Open Late amid Crowding by Displaced

Video: Schools Open Late amid Crowding by Displaced

22 October 2014

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Classes started a month behind schedule Wednesday in many areas of Iraq because some schools are crowded with families seeking refuge from violence elsewhere in the country....

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Posted in Education & Training0 Comments

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