Jordan Closes Borders with Syria and Iraq

By John Lee. Jordan has reported closed its borders with Syria and Iraq following the suicide bombing that killed six soldiers at a Jordanian army camp. The Jordanian government said that there won’t be new refugee camps and that the existing ones won’t be expanded. (Sources: ANSAmed, Newsweek)

Counter-ISIL Strikes Continue in Syria, Iraq

U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq on Tuesday, Combined Joint Task Force Operation Inherent Resolve officials reported on Wednesday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria Bomber, attack, fighter […]

Lukoil in Talks on Iraq Petrochemical Project

By John Lee. Russia’s Lukoil is in talks with Shell and Total regarding their participation in a petrochemical complex in southern Iraq. President Vagit Alekperov (pictured) told TASS: “To create a petrochemical complex – now the negotiations are under way with Shell and with Total. The Iraqi side supports our efforts.” He added that Iraq […]

KRG Taxes Agricultural Products from Iraq

By John Lee. Kurdistan24 reports that the Kurdistan Regional Government (KRG) Ministry of Agriculture has decided to impose a tax on some products imported from other parts of Iraq. KRG Minister of Agriculture and Water Resources, Abdulstar Majid, said that the his Department is aware that imposing a tax on goods within a country is […]

Armenia-Iraq Trade up 30% Annually

By John Lee. PanARMENIAN reports that trade between Armenia and Iraq has grown by 30 percent annually. Armenian Deputy Economy Minister Garegin Melkonyan (pictured) is quoted as saying: “In 2015, trade turnover between the two countries amounted to $132 million, up from just $49 million in 2012. We exported some $80 million and $126 million-worth […]

Video: Fallujah IDPs flee one Hell to find Another

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. They fled starvation and jihadist tyranny in Fallujah for the safety of displacement camps but thousands of Iraqi families still have nothing to eat and nowhere to sleep.

UNHCR warns of Funding Crunch as Thousands Flee Falluja

With tens of thousands of civilians pouring out of the embattled Iraqi city of Falluja in recent days, US$17.5 million is urgently needed to meet their immediate needs, the UN Refugee Agency said today. More than 85,000 people have fled Falluja and the surrounding area since a government military offensive to retake the city from […]

Southern Oil Exports below May levels

By John Lee. Reuters repors that crude oil exports from Iraq’s southern ports are averaging 3.144 million barrels per day so far in June. An official from the South Oil Company (SOC) said on Tuesday that this was down from the 3.2 million bpd achieved in May due to maintenance work and weather conditions. (Source: […]

Petrofac Completes Work at Badra

By John Lee. In its trading update on Tuesday morning, Petrofac has confirmed that it has reached “mechanical completion” of the third and final train on the Badra project. The scope of work included detailed design, engineering, procurement, construction, pre-commissioning, commissioning and start-up work on the Badra development’s central processing facility. (Source: Petrofac)

Karbala Refinery Project “Halted … Solvency Concerns”

By John Lee. Work on a the $6-billion Karbala Refinery Project has reportedly been suspended. According to Korea Times, the work has been halted “due to the Iraqi government’s late construction payment, raising concerns about its solvency.” The Engineer, Procure and Construct (EPC) contractor for the Karbala Refinery Project is HDGSK, a South Korean joint […]