By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has announced that the last remaining oil fire at the Qayara oil field has been extinguished. The Islamic State group (IS, ISIS, ISIL, Daesh) had sabotaged 34 of the 50 wells at Qayara, setting 18 of them on fire. The Minister expressed his gratitude to […]
The death of innocent civilians during war is a terrible tragedy that weighs heavily on everyone, the commander of the coalition effort to defeat the Islamic State of Iraq and Syria told Pentagon reporters today. Speaking from Baghdad via teleconference, Army Lt. Gen. Stephen J. Townsend, commander of Combined Joint Task Force Operation Inherent Resolve, […]
By John Lee. The United Nations Development Programme (UNDP) has said that an estimated 50,000 people have died as a result of violence in Iraq since 2003. It made the statement in its latest annual Human Development Report (HDR), entitled ‘Human Development for Everyone’, in which it ranks Iraq in 121st place out of 158 […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 35 banks and 11 remittance companies took part in its currency auction on Wednesday. A total of $161,036,814 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Shares in Genel Energy closed down 14 percent on Tuesday after the company announced a $181-million writedown in the value of its flagship Taq Taq oilfield in Iraqi Kurdistan, in which it has a 44-percent working interest. In a statement, the company said: As previously stated, the Company commissioned an updated Competent Person's Report ('CPR') […]
Gazprom Neft Badra, a subsidiary of Russia's Gazprom Neft, has produced the five-millionth tonne of oil at its Badra oil field. Thanks to the application of cutting-edge production and transportation technologies, this outcome has been achieved in just over two and a half years’ of commercial production. Total cumulative oil production since the start of […]
Australian company Aspen Medical has been contracted by the World Health Organization (WHO) to provide healthcare professionals and hospital management at a 48-bed field hospital south of Mosul in northern Iraq. The field hospital was established by WHO at the urgent request of the Ministry of Health in Iraq. WHO is coordinating a number of […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria, conducting 30 strikes consisting of 72 engagements against ISIS targets yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 22 banks and 11 remittance companies took part in its currency auction on Tuesday. A total of $125,278,000 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
The Iraq Britain Business Council (IBBC)'s Spring Conference & Networking Event in London is just days away, but you still have a chance to meet more than 150 key stakeholders, business partners and prospects active in the Iraqi market. The Conference -- Iraq: Rising Confidence -- takes place on Monday 3rd April 2017 at the […]
The Iraqi government has received the consent of the U.S. Department of State to buy American weapons in the form of Foreign Military Sales (FMS) worth more than $22 billion over a 12 year period according to reports. The United States has been Iraq’s primary arms supplier since 2005, with arms exports in 2016 including […]
By John Lee. Iraq's Ministry of Oil announced exports of 91.6 million barrels for February, earning revenue of $4.5 billion. This equates to 3.271 million barrels per day (bpd), and an average oil price of $49.127 per barrel. The southern ports of Basra acconted for 90.8 million barrels, which brought in $4.46 billion, while Kirkuk […]
