By John Lee. The head of the state-run Iraqi Drilling Company (IDC), Idriss Mohsin al-Yasiri, is reported to have held closed-door talks with the CEO of Iran’s North Drilling Company, Hedayatollah Khademi. According to Iran's PressTV, Al-Yasiri said the Iranian company was able to provide a “full cycle of services”, and said he expected the […]
By John Lee. Texas Aquatic Harvesting Inc., an aquatic vegetation removal company, is reportedly working on a $2-million (2.3 billion Iraqi dinar) deal with the Iraqi government for 10 tiger cutters. Tiger cutters are 21-foot-long vessels that clear waterways using a pair of blades affixed to their front to shred overgrown vegetation. The company employs […]
By John Lee. The National Bank of Iraq plans to open five more branches in Iraq by the end of this year, in what Reuters described as a sign that there is still money to be made in much of the country despite civil war and low oil prices. Vice-chairman Ayman Abu-Dhaim told the news […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks and 4 remittance companies took part in its currency auction on Tuesday. A total of $232,814,397 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. According to a report from Reuters, the new Basra Heavy crude oil grade has been trading at a widening discount. Malaysia's Petronas reportedly sold 2 million barrels for June loading to Indian refiner Essar Oil at a discount of more than $1 a barrel to its official selling price. bigger than expected […]
By John Lee. Iraq is planning to boost crude exports by about 26 percent, according to a report from Bloomberg. Shipping schedules suggest exports of a record 3.75 million bpd in June. Deputy Oil Minister Fayyad al-Nimaa said recently that export capacity is currently capped at 3.1 million bpd. Commenting in Forbes, petroleum economist Michael […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported. Officials reported details of the latest strikes, which took place between 8 a.m. Monday and 8 a.m. Tuesday, local time, noting that assessments of results […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq has launched a military operation to try and retake Anbar province from ISIL. Shia militia are involved in the operation - which some fear could raise sectarian tensions. Al Jazeera's Imran Khan […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Professor Saad Jawad, a senior fellow of the Middle East Centre at The London School of Economics, joins us to discuss the difficulties and opportunities that the Iraqi government will face in reclaiming […]
According to the April 2015 report published by the Kurdistan Regional Government, KRG, Ministry of Natural Resources, KRG commitments under the 2015 Federal Budget Law have been met, and oil production has reached record levels. According to an agreement on oil export and budget, reached last December between the KRG and the Federal Government of […]
By Ahmed Mousa Jiyad. Iraq Extractive Industry: Legal, Fiscal and Revenue Allocation and Management Issues This is an Executive Summary of a research work commissioned by the Natural Resource Governance Institute (NRGI), USA, as part of the preparation for NRGI’s strategic plan for interlinked and complementary interventions in Iraq during the upcoming three years. This […]
By Lemya Ayub. This is an extract from an article originally published by Nina Iraq, and is reproduced here with permission. Interview with H.E. Ambassador of Japan to Iraq, Mr. Kazuya Nashida It is 2:00 pm Monday afternoon. I have been preparing my questions and kind of know what to expect, however, I am also […]
