By John Lee. The President of BP Iraq, Michael Townshend, has said that the company has extended an agreement with the Ministry of Oil to boost production at the Kirkuk oilfield. Reuters quotes him as saying "We had a letter of intent, which was for a year, and we extended that until the end of this […]
The International Finance Corporation (IFC), a member of the World Bank Group, is investing up to $18 million in Saudi dairy company Al Safi Danone’s Iraq-based subsidiary, to expand its operations in order to improve domestic food security, boost Iraq’s non-oil sector, and reduce its reliance on imported dairy products. IFC’s long-term investment, which is […]
By Samar Rassam, CEO of Somer Industrial Projects (SIP). This is an extract from an article originally published by Nina Iraq, and is reproduced here with permission. As always, when returning to my column in Nina Magazine, I reflect on the past few months. It has been a very busy time. I am excited to […]
By Wassim Bassem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Youths in Iraq dream of leaving the country. The successive wars since 1980 and in particular the violence that has been part of daily life in Iraq since 2003 have caused waves of emigration over […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. In its fight against the Islamic State in Iraq and the Levant (ISIL, ISIS, IS), Iraq is now desperate for advanced weapons and help from the United States. A delegation led by Iraq's […]
By John Lee. Exports of Kurdish and Kirkuk oil through the Turkish port of Ceyhan have reportedly risen to 420,000 bpd. According to BasNews, this is up from 270,000 bpd in March. 2.5 million bpd were exported through Basra, giving a total of 2.92 million bpd, down from the March record of 2.98 million bpd. […]
By John Lee. The President of BP Iraq has said that the company has been lifting more crude oil cargoes in the past couple of months, as payment for its work in the Rumaila oil field (pictured). Michael Townshend told reporters that current production at Rumaila is about 1.4 million bpd and is expected to remain […]
By John Lee. In its Interim Management Statement this morning, Dragon Oil gave the following update on its operations at Block 9 in Iraq: "In 2014, the partners in Block 9 in Iraq, announced the discovery of oil in two formations in the consortium's first exploration well, Faihaa-1 in which Dragon Oil holds 30 percent. […]
By John Lee. Iran's PressTV reports that preliminary tests have been carried out over 50 kilometers of the final stretch of the pipeline from Assaluyeh, near Iran's offshore South Pars oil and gas field, to Iraq. A spokesman for the National Iranian Gas Company (NIGC) said the next test will be carried out over the […]
By John Lee. Prime Minister Haider al-Abadi's spokesman, Rafid Jaboori (pictured), has resigned after a video showing him singing the praises of former President Saddam Hussein circulated across social media. The former BBC journalist admitted taking part in the video more than 15 years ago, but described it as a mistake and apologised. "I was […]
By Wassim Bassem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. It is no new phenomenon that students in Iraq are exposed to physical punishment at the hands of their teachers. But a video posted on YouTube and social media sites on March 25 showed a […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th April 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,129 (-1.6%)/ $1,127 (-1.2%) (weekly change) ) (-19.0% and -24.0% YTD change, respectively). The number of week traded […]
