By John Lee. Iraq's Ministry of Oil quotes a report by Rystad Energy as saying that Iraq has the world's third-lowest-cost crude oil. Kuwait came in lowest at $8.50 per barrel, with Saudi Arabia at $9.90, followed by Iraq at $10.70. Fourth place went to UAE at $12.30, and Iran took fifth place with $12.60. […]
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] visited Egypt and headed a delegation to attend the Tripartite Meeting of the oil Ministers of Iraq, Egypt and Jordan to complete the discussions about the oil and gas transportation pipeline. He signed a memorandum of understanding with the Egyptian minister of petroleum and […]
By John Lee. Prime Minister Dr. Haider Al-Abadi has approved the procedures for issuing loans from the housing fund, allocated from the central bank's budget of five trillion Iraqi dinars ($4.2 billion). The loans will be distributed to the provinces as per the percentage of population (80 percent) and the degree of poverty (20 percent) […]
By John Lee. UAE-based Gulftainer has said that its Umm Qasr Logistics Centre marked a significant milestone, notching up one million TEUs handled over a five-year period since the commencement of operations in 2010. Flemming Dalgaard, CEO, Gulftainer, said: “Gulftainer is currently on a growth path to expand organically as well as through leveraging new […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th Mar 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD829 (-7.8%) / $851 (-8.2%) (weekly change) (-23.9% and -25.7% YTD change, respectively). The number of week traded […]
By John Lee. KRG Minister Falah Mustafa met with Russian Ambassador to Iraq Mr. Ilya Morgunov and Russian Consul General in Kurdistan Mr. Viktor Simakov on Sunday to discuss strengthening bilateral ties and challenges facing Kurdistan and the wider region. Minister Mustafa and Ambassador Morgunov reviewed ways of strengthening bilateral cooperation between the Russian Federation […]
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 on Sunday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter, and […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 27 banks and 13 remittance companies took part in its currency auction on Monday. A total of $96,160,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
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 on Thursday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter and […]
By John Lee. TradeArabia reports that Iraq remains the Gulf’s third-largest project market, with $358 billion in active infrastructure projects. More than $90 billion of these are in the gas, oil, and power sectors. Ahead of the Meed Iraq Energy Projects conference taking place on March 21 in Dubai, Meed Projects said ongoing infrastructure projects […]
By John Lee. The CEO of Standard Chartered in Iraq has said that the bank is in talks with Iraq’s Finance Ministry to take part in a $2-billion bond sale this year. Andreas Meletiou also told Bloomberg that the London-based bank is also holding talks with other government institutions about their financing needs. A planned […]
By Omar Sattar, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Oil revenues accruing from oil field development and production in Iraq no longer match the revenues made before the licensing contracts the Ministry of Oil signed in 2009-2010. The Iraqi government will be […]
