Featured Stories
Finance Minister Meets Boss of Shell Iraq Politicians Work Towards National Consensus UNICEF, EU Fund Water Conservation Project Video: Peshmerga Cut-Off IS Supply-Line
 
Finance Minister Meets Boss of Shell Iraq

Finance Minister Meets Boss of Shell Iraq

By John Lee. Finance Minister Hoshyar Zebari received on January 21, 2015, Mr. Hans Nijkamp, head of Shell in Iraq and the vice president of Shell Oil. During the meeting, they discussed the company’s operations in the Majnoon and West Qurna 1 oil fields, and the South Gas Project, as well as the oil company […]

Politicians Work Towards National Consensus

Politicians Work Towards National Consensus

By Mustafa al Kadhimi for Al Monitor. Any oppinions expressed are those of the author, and do not necessarily reflect the opinions of Iraq Business News. After the US invasion of Iraq in 2003, the most used terms in the country are likely “political consensus,” “consensual democracy” and “consensual decision.” However, failures on all levels […]

UNICEF, EU Fund Water Conservation Project

UNICEF, EU Fund Water Conservation Project

The UNICEF Water and Sanitation (WASH) programme, with financial support from the European Union (EU) has started the implementation of a public awareness project to promote efficient water use and improved hygiene practices in Iraq. The project will engage 10 million Iraqis with messages on effective water conservation, water handling at the household level and […]

Video: Peshmerga Cut-Off IS Supply-Line

Video: Peshmerga Cut-Off IS Supply-Line

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Kurdish fighters have reportedly cut-off a major supply line for the Islamic State of Iraq and the Levant (ISIL) in northwestern Iraq. The Kurdish Peshmerga say they’ve seized an area near the Mosul […]

UK Forges Closer Ties with Iraqi Kurdistan

UK Forges Closer Ties with Iraqi Kurdistan

21 January 2015

Baroness Emma Nicholson of Winterbourne, UK Trade Envoy for Iraq and Iraq Britain Business Council’s (IBBC) Chairman, highlighted on Tuesday the fact that “despite the heavy competition from major industrial countries such as Turkey, China and South Korea there are plenty of contracts and good...

Read the full story

Posted in Industry & Trade5 Comments

Genel Energy Down 3% on Trading Update

Genel Energy Down 3% on Trading Update

21 January 2015

Shares in Genel Energy were down 3 percent on Wednesday morning following the company's trading and operations update in advance of the its full-year 2014 results, which are scheduled for release on 5 March 2015. The information contained herein has not been audited and may be subject to further...

Read the full story

Posted in Oil & Gas2 Comments

Oil Prices have “Reached Bottom”: Oil Minister

Oil Prices have “Reached Bottom”: Oil Minister

21 January 2015

By John Lee. Iraqi Oil Minister Adel Abdul Mahdi told a conference in Kuwait on Wednesday that oil prices are unlikely to fall further, following the drop of nearly 60 percent since June: "Our estimate is that the prices (of oil) have reached the bottom. It is very difficult to drop lower than...

Read the full story

Posted in Oil & Gas6 Comments

Turkey Sends Power-Generation Ship to Basra

Turkey Sends Power-Generation Ship to Basra

21 January 2015

By John Lee. Turkey is to send a power-generation ship to Basra to help alleviate its electricity shortages. The announcement was made by Turkish Energy Minister, Taner Yildiz, on Sunday during the 17th Turkey-Iraq Joint Economic Commission meeting in Baghdad. According to Worldbulletin,...

Read the full story

Posted in Industry & Trade, Public Works2 Comments

ISIL Targets Professional Women, UN Warns

ISIL Targets Professional Women, UN Warns

21 January 2015

The United Nations human rights office today confirmed that the Islamic State of Iraq and the Levant (ISIL) has established unlawful, so-called ‘shari’a courts’ in the territory under its control that have been carrying out cruel and inhuman punishments against men, women and children....

Read the full story

Posted in Security1 Comment

PM Barzani meets Pope’s Envoy

PM Barzani meets Pope’s Envoy

21 January 2015

Kurdistan Region Prime Minister, Nechirvan Barzani, yesterday received in Erbil Archbishop Giorgio Lingua, Apostolic Nuncio in Iraq and his accompanying delegation. Archbishop Giorgio Lingua said that the Vatican follows the situation in the Kurdistan Region very closely. He conveyed Vatican’s...

Read the full story

Posted in Security0 Comments

FM Receives Head of UNICEF

FM Receives Head of UNICEF

21 January 2015

By John Lee. Foreign Minister Dr. Ibrahim al-Jaafari, received the Executive Director of UNICEF, Mr. Anthony Lake, and the accompanying delegation on Tuesday. They reviewed the work of the organization and services to care for children of the world and Iraq. Dr. Jaafari said that the world...

Read the full story

Posted in Security0 Comments

Currency Auction Results, 21st Jan

Currency Auction Results, 21st Jan

21 January 2015

By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Wednesday. A total of $123,867,000 was sold  at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of...

Read the full story

Posted in Banking & Finance0 Comments

Weekly Security Update, 13 – 19 January 2015

20 January 2015

National Overview The establishment of new Sinjar governing institutions revives KRG-PKK rivalry as Peshmerga operations continue to resist ISIS attacks in the Gwer-Mosul corridor. Formed on Wednesday 14 January following the nomination of local residents of the Sinjar (also known as Shingal) and...

Read the full story

Posted in Weekly Security Update6 Comments

Turkey, Iraq Agree on Gas Pipeline

Turkey, Iraq Agree on Gas Pipeline

20 January 2015

By John Lee. Iraq and Turkey have agreed on a new natural gas pipeline project. The announcement was made during the visit of Turkey's Energy Minister, Taner Yıldız, to Iraq on Sunday to attend 17th meeting of the Turkey-Iraq Joint Economic Commission. Technical analysis on a new natural...

Read the full story

Posted in Oil & Gas11 Comments

Iran Wins $40m Iraq Cable Contract

Iran Wins $40m Iraq Cable Contract

20 January 2015

By John Lee. An Iranian company has struck a $40-million deal with Iraq for the supply of high voltage cables. Alireza Kolahi, the Managing Director of Abhar Cable & Wire Co., said the contract was won despite competition from Malaysia, South Korea, Turkey, Italy, Germany, Switzerland,...

Read the full story

Posted in Construction & Engineering, Industry & Trade10 Comments

Dragon Oil to Accelerate Evaluation of Faihaa-1

Dragon Oil to Accelerate Evaluation of Faihaa-1

20 January 2015

By John Lee. In its Trading Statement this morning, Dragon Oil issued the following update on its operations in Iraqi Kurdistan: "On 10 September 2014, the partners in Block 9 in Iraq, Dragon Oil (30%) and Kuwait Energy (70% and operator), announced their first oil discovery at the consortium's...

Read the full story

Posted in Oil & Gas7 Comments

Germany’s New Consul General visits DFR

Germany’s New Consul General visits DFR

20 January 2015

The new German consul general to Erbil, Dieter Lamle, visited the KRG Department of Foreign Relations on Monday to introduce himself and to discuss latest developments with Minister Falah Mustafa, Head of the KRG Foreign Relations. In welcoming Mr Lamle, Minister Mustafa stated that the Kurdistan...

Read the full story

Posted in Industry & Trade, Security3 Comments

Latvian Ambassador Visits Kurdistan

Latvian Ambassador Visits Kurdistan

20 January 2015

The Ambassador of the Republic of Latvia to Turkey, Iran, and Iraq, Mr. Atis Sjanits, visited the KRG Department of Foreign Relations on Monday to discuss political, security, and humanitarian developments in Kurdistan and the wider Region. In his first visit to the Kurdistan Region, Ambassador...

Read the full story

Posted in Industry & Trade3 Comments

Currency Auction Results, 20th Jan

Currency Auction Results, 20th Jan

20 January 2015

By John Lee. The Central Bank of Iraq (CBI) has reported that 20 banks took part in its currency auction on Tuesday. A total of $224,696,000 was sold  at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of...

Read the full story

Posted in Banking & Finance0 Comments

Record Oil Production set to Increase

Record Oil Production set to Increase

19 January 2015

By John Lee. Iraq produced a record of around 4 million barrels per day (bpd) of crude oil in December, Oil Minister Adel Abdel Mehdi (pictured) told a press conference on Sunday. This beat the previous record for Iraqi production of 3.56 million bpd in 1979, according to an official from the...

Read the full story

Posted in Oil & Gas5 Comments

IBN Newsletter 'FREE Weekly Subscription'

Advertise with IBN