Gulf Keystone Petroleum (GKP) announced today that the Kurdistan Regional Government has authorised a gross payment of US$15 million (US$12 million net to Gulf Keystone) to the company. Further to the KRG's Ministry of Natural Resources ("MNR") press release of 1 February 2016, this payment is being made on the basis of the Company's monthly […]
By John Lee. The International Atomic Energy Agency (IAEA) has told Reuters of a theft a radioactive source in Zubair. The industrial radiography device is described Ir-192 in a shielding container, which is classified as a Category 2 radioactive substance, meaning that if not managed properly it could be fatal to someone exposed for a […]
As the U.S.-led coalition’s air campaign to counter the Islamic State of Iraq and the Levant in Iraq and Syria brings its capabilities to the fight, joint interoperability continues to degrade the terrorist organization, the commander of U.S. Air Forces Central Command said today. Air Force Lt. Gen. Charles Q. Brown Jr., who also serves […]
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. The Central Bank of Iraq (CBI) has reported that 28 banks and 19 remittance companies took part in its currency auction on Thursday. A total of $111,400,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Approximately 5,700 structures in and around Ramadi have incurred some level of damage since mid-2014, and almost 2,000 buildings have been destroyed, according to a study published by the United Nations Institute for Training and Research (UNITAR). Using satellite imagery collected on 29 January 2016 by the GeoEye-1 satellite, and compared with […]
By John Lee. TNA reports that Iran’s Minister of Industry, Mines, and Trade, Mohammad Reza Nematzadeh (pictured), is leading a delegation to Iraq for a two-day visit aimed at boosting trade between the two countries. During the visit, he will meet with high-ranking Iraqi officials and ministers, and will visit an Iranian trade fair in […]
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 Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, ground-attack, fighter […]
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. Several groups appear to be vying to control Iraqis' social lives and liberties: organized crime, religious factions and even armed security forces. Motives range from money to fundamentalism, but the situation […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 20 remittance companies took part in its currency auction on Wednesday. A total of $102,220,000 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
The KRG's Ministry of Natural Resources has published an updated Oil Production, Export and Consumption Report for 2015. The report provides a comprehensive overview of activity in the Kurdistan Region’s oil and gas sector in 2015, including the revenues derived from oil exports. The first edition of the report was prepared in November 2015, which […]
By John Lee. Prime Minister Haider al-Abadi (pictured) has reportedly offered to pay the salaries of the KRG’s employees if it ceases its independent oil exports. Facing a financial crisis due to low oil prices, the KRG announced recently that its employees will be paid only partial salaries until further notice, and that unpaid wages […]
