By Sara al-Qaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iran, Iraq seek to send a message with joint naval exercises In conjunction with the military maneuvers of the Iranian-backed Shiite Popular Mobilization Units along the Iraqi border with Saudi Arabia on Jan. 4, former Iraqi […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. People in Iraq's capital of Baghdad say they have lost faith in their police force after several suicide attacks claimed by ISIL on Sunday. A man blew himself up at a market in […]
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has confirmed that Iraq has started to cut oil production in line with the OPEC agreement reached in Vienna. He said production has been cut by 160,000 barrels of crude oil per day from the start of the year, and that he hopes to reduce […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Analyzing December 2016 data prompts three disturbing remarks: First, there is more than 128% difference between what the Minister of Oil and the DG of SOMO said on how much Iraq should […]
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has told the Angolan oil company Sonangol to resume its work in developing the Qayara and Najmah oil fields in Nineveh governorate. In 2010 Sonangol was granted a 75-percent stake in the fields, along with North Oil Company (25%), at a price of $6.00 per barrel, […]
Gulf Keystone Petroleum (GKP) has announced that it has appointed Stuart Catterall as Chief Operating Officer ("COO") and a member of the Executive and Leadership teams. Catterall will have responsibility for operational and technical activities within GKP, across the full spectrum of activities including procurement, budgeting and HSSE and will direct the execution of the […]
By John Lee. A US State Department spokesperson has said that he expects the recent $1-billion loan guarantee provided by the United States to be shared with the Kurdistan Region. Mark Toner told a daily press briefing: "We believe it should be to the benefit of all Iraqis, and that includes the citizens or the […]
Kurdistan Regional Government Prime Minister Nechirvan Barzani met with Japanese State Minister for Foreign Affairs Kentaro Sonoura and his accompanying delegation. In the meeting, attended by Deputy Prime Minister Qubad Talabani, the Japanese Minister reaffirmed his country’s position to further strengthen its relations with the Kurdistan Region, by opening its consulate in Erbil on Wednesday. […]
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq and Syria yesterday, 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, bomber, fighter and […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 34 banks and 17 remittance companies took part in its currency auction on Wednesday. A total of $153,971,978 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Crude oil exports from the Iraq's southern ports reached a new high in December. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] said in a statement on Monday that exports from the country's southern and central fields averaged 3.510 million barrels per day last month, which is up from the 3.407 million bpd […]
DNO ASA, the Norwegian oil and gas operator, has announced that the Peshkabir-2 well currently drilling in the Kurdistan region of Iraq has discovered oil in the Cretaceous horizon in the southern flank of the Peshkabir field. The well flowed at a stable rate of 3,800 barrels of 28° API oil per day on a […]
