The Kurdistan Regional Government has hosted a special session for the KRG Minister of Interior and Mayor of Shingal to brief diplomats and representatives of UN agencies and INGOs based in Erbil on the needs of the city. At the outset of the meeting, Minister Falah Mustafa, Head of KRG Foreign Relations called for a […]
By John Lee. In its results for 2015, published this morning, UK-based oil and gas engineer Amec Foster Wheeler re-affirmed the importance of the Iraqi market. While it had no new contract wins to announce in Iraq over the past year, the company stated: "Iraq remains an important market for us, as we support various […]
Bold steps needed to give hope to ethnic and religious groups facing an uncertain future The United Nations Special Rapporteur on minority issues, Rita Izsák-Ndiaye (pictured), has urged the Government of Iraq to take rapid and concrete steps to guarantee the future of some of the country’s most threatened and marginalized ethnic and religious groups […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 20 remittance companies took part in its currency auction on Wednesday. A total of $91,403,625 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Minister of Petroleum Bijan Zangeneh said he hopes that Iran and Iraq will be able to reach agreement on joint projects during the on-going visit by a delegation from the Iraqi Oil Ministry. He made the remarks during a meeting with visiting Deputy Minister for Gas Refineries at the Ministry of Oil, Fayaz Hassan, on […]
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 today. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack and fighter aircraft […]
By Mustafa Saadoun for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Human Rights Watch (HRW) issued a report Jan. 31 about the abduction and murder of dozens of Sunnis living in a town in the center of Iraq. “Members of [Shiite] militias, who […]
By John Lee. Petra reports that the Jordanian Minister of Energy and Mineral Resources, Ibrahim Saif, will meet his Egyptian and Iraqi counterparts in Cairo on Tuesday to discuss developments regarding the Basra-Aqaba pipeline project. The project, agreed by the three countries in Amman in November 2015, will see oil and gas pipeline running from […]
By John Lee. Gulf Keystone Petroleum (GKP) has confirmed that the gross payment of US$15 million was received from the Kurdistan Regional Government on 4 March. Following the payment, the Company's current cash position is US$56 million. (Source: GKP)
By John Lee. Shafaaq reports that Iraq will pay foreign oil companies about $2 billion in remaining arrears for 2015 in April. The arrears were accumulated to international oil companies (IOCs) such as BP, Shell , ExxonMobil, Eni and Lukoil, which operate in under service contracts, whereby they are paid a fixed dollar fee for […]
By John Lee. The Iraqi Defence Minister is reportedly working on a draft law to make military service compulsory. According to BasNews, the ministerial council has recently suggested the bill, and the governmental advisory committee is now working on it before presenting it to the council of ministers. If the draft law is approved by the […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Amid growing talk that Iraq's largest dam risks bursting, residents of the town of Wana, which would be wiped out within minutes of a breach, are both sceptical and anxious:
