By John Lee. Iraq's Ambassador to the US Lukman Faily (pictured) has joined the Lebanese Ambassador in Washington Antoine Chedid and a panel of experts to discuss the growing regional crisis of Syrian refugees and potential conflict overspill from the war. The event was hosted by The Washington Institute for Near East Policy and held […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Conflict between Baghdad and Iraqi Kurdistan over oil exports has resulted in something of a financial crisis in the northern region. State employees haven’t been paid, MPs are threatening to resign […]
By Mark DeWeaver. Fund managers visiting Iraq for the first time are often surprised by the large amounts of cash Iraqi banks typically hold. While the Central Bank of Iraq (CBI) requires lenders to hold 15% of their deposits in the form of vault cash and central bank reserves, most hold well over 50%. (See […]
The announcement that Sonangol is to pull out of Iraq due to security problems is disappointing for many, not least for the company, which has been working at the Qayara and Najmah fields for the past four years. But it must be remembered that while security is always a concern, the extent of the problem […]
By John Lee. Angola's Sonangol has decided to abandon its Qayara and Najmah oilfields in Nineveh province due to security problems. Reuters reports that Anabela Fonseca, Sonangol board member in charge of international investments, told a news conference: "Our presence in Iraq was as an operator in an area with much conflict. Last year we […]
By John Lee. Iraqi oil minister Abdul Kareem al-Luaibi (pictured) has moved to reassure major IOCs in the wake of growing disgruntlement over bureaucracy. He remarked to reporters that his ministry " is keen to provide all kinds of support and cooperation for all international companies operating in Iraq, including contracting with companies within the oil […]
By John Lee. Tense negotiations between Baghdad and Italy's ENI came to a close just hours before ENI was supposedly going to call time on their Iraq operations, Reuters reports. ENI CEO Paulo Scaroni made his dissatisfaction clear to reporters on Tuesday before the new deal was struck, stating, "If they do not sign the contracts […]
By John Schnittker, Chief Economist at Schnittker Associates, and former Ministry Advisor at the US Embassy in Baghdad. The headwater areas of the Tigris and Euphrates rivers that stretch across most of eastern Turkey have been exceptionally dry this fall and winter. Precipitation over eastern Turkey during the September 2013 – February 2014 period has been less than […]
By John Lee. Belgian sewage and water treatment firm Turbo4bio have announced the completion of the new waste water treatment plant at Kufa. The 50,000 cubic meter per day capacity installation involves new technology developed by the company CEO Hans H. Badreddine. Badreddine remarked how pleased he was with the completion of work at the […]
By John Lee. In its final results announcement this morning, Petrofac gave the following update on its operations in Iraq: Maintenance services, Iraq In August 2013, we were awarded a second contract by Gazprom Neft Badra B.V. (Gazprom) on the Badra oil field, situated 160 kilometres southeast of Baghdad. Worth US$95 million over three years, […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th February 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,888 (-2.5%)/ $2,005 (-2.5%) (weekly change). The number of week traded shares was 11.2bn and the weekly trading […]
Erbil's IKG Property has issued its Q4 2013 Report which covers Erbil’s Industrial, Retail and Residential markets. The report gives an overview of each sector, explores the supply and demand dynamics and give a brief snapshot of the serviced apartment sector. Click here to download the report from our Reports section.
