By John Lee. Iraq's Ministry of Electricity has announced that some power plants will be shut down due to a surplus of electricity generation, Azzaman reports. The plants will undergo maintenance before coming on line to meet summer demand. This may come as a surprise to some residents of major towns such as Baghdad or Basra, and […]
By John Lee. Surprising skeptics, the International Energy Agency has announced that Iraq's oil exports have hit 3.6 million bpd, a record 30 year high, The Wall Street Journal reports. Previously exports were falling due to export bottlenecks, bad weather and extensive work on infrastructure, while some northern areas such as Kirkuk were adversely affected by insecurity. […]
JICA (Japan) and UNDP Partnership Reinforcement Agreement to Accelerate Economic Recovery in Iraq Japan International Cooperation Agency (JICA) and UNDP announced a reinforcement agreement to strengthen their partnership and accelerate the implementation of infrastructure and economic development projects in Iraq to improve the economic recovery and living condition of Iraqi people in key sectors such […]
The European Commission is increasing its humanitarian assistance to Iraq by €3 million in response to an increase in the numbers of Internally Displaced Persons (IDPs) fleeing a wave of violence in Al Anbar province. This additional funding will bring the total 2014 humanitarian funding for Iraq to €7 million. Speaking in Baghdad today where […]
By Ayser Jabbar for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. For months, security incidents in Iraq’s Anbar province — the result of military operations conducted by Iraqi government forces against strongholds of the Islamic State of Iraq and al-Sham (ISIS) — have […]
ShaMaran Petroleum has reported initial recognition of reserves as well as updates to estimated contingent resources and prospective resources for the Atrush block as of December 31, 2013. The reserves and resources estimates were provided by McDaniel & Associates Consultants Ltd., the Company's independent qualified resources evaluator, and were prepared in accordance with standards set […]
Sterling Global Operations (SGO) has been chosen to provide surface – supplied divers for unexploded ordnance search and removal and salvage operations for the sunken 82,000-ton VLCC (Very Large Crude Carrier) Amuriyah, an Iraqi tanker sunk near Bubiyan Island off the coast of Kuwait in Jan. 1991 during Operation Desert Storm. Special Diving Services (SDS) […]
By John Lee. A former Iranian Oil Minister, now an advisor to Iran’s First Vice President Eshaq Jahangiri, has pushed for great commercial engagement with Iraq. Rostam Qassemi [Qasemi] (pictured) told Fars News Agency: “Iraq’s big market which is in our neighborhood can be a lucrative for our private sector ... The volume of trade […]
By John Lee. T Rowe Price has reportedly been selling some of its Iraqi government debt, in anticipation of renewed political turmoil in the country. Investment Week reports that the fund manager has been overweight in Iraq for several years, and at one time was the largest Iraqi debt holder. The company's emerging market debt […]
From Human Rights Watch. Iraq’s Council of Ministers should withdraw a new draft Personal Status Law and ensure that Iraq’s legal framework protects women and girls in line with its international obligations. The pending legislation would restrict women’s rights in matters of inheritance and parental and other rights after divorce, make it easier for men […]
Following approval of its declaration of commerciality by the Kurdistan Regional Government (KRG), WesternZagros Resources has announced that it is moving to develop the first of its two significant light oil discoveries. Once its development plan for the Sarqala field is approved, the Company expects to produce up to 10,000 barrels per day (bbls/d) of […]
Foreign Minister Hoshyar Zebari inaugurated on Sunday evening, March 9, 2014, the residence of the Permanent Mission of Iraq to the Arab League in the presence of Ministers of Foreign Affairs, His Excellency the Secretary General of the League of Arab States Dr. Nabil al-Arabi , Mr. Amr Moussa, several Arab Ambassadors and permanent delegates […]
