Pursuant to the Kurdistan Regional Government Council of Ministers resolution No.73 (3 February 2016) establishing an independent review of the oil and gas industry, today new verified data on oil exports, consumption and revenues have been published covering the period from 1 July 2017 to 31 December 2017. This is a continuation from the first […]
By John Lee. Security forces in Basra province have reportedly prevented demonstrators from storming the West Qurna 1 oil field on Wednesday. A military source told Anadolu Agency that demonstrators blocked all roads leading to the facility, prompting local security forces to intervene. (Source: Anadolu Agency)
A total of 79 Iraqi civilians were killed and another 99 injured in acts of terrorism, violence and armed conflict in Iraq in July 2018*, according to casualty figures recorded by the United Nations Assistance Mission for Iraq (UNAMI). The figures include ordinary citizens and others considered civilian at the time of death or injury, […]
Kurdistan Regional Government Prime Minister Nechirvan Barzani inaugurated a new power station in Sulaymaniyah. In a speech during the ceremony, Prime Minister Barzani thanked South Korea for helping build the plant, which generates 400 KV electric power. He also said that despite major challenges, the KRG has taken serious steps ahead, and it allocated significant […]
By John Lee. Zain Iraq performed "exceptionally well" in H1 2018 when compared to H1 2017 with revenues reaching USD 558 million, a 7% increase Y-o-Y and EBITDA reached USD 194 million, up 8% reflecting an EBITDA margin of 35%. According to a statement from the company, the operation reported a net profit of USD […]
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has ordered the state-run Dhi Qar Oil Company (DQOC) and Iraq Drilling Company (IDC) to develop the Nasiriyah oil field in Dhi Qar province. He said the Ministry has budgeted $140 million to raise production from the current 90,000 barrels per day (bpd) to 200,000 […]
By John Lee. UK-bassed pharmaceutical company AstraZeneca has said it is the subject of an anti-corruption investigation in the US relating to its activities in Iraq In its latest quarterly filing with the Securities and Exchange Commission (SEC), the company said: "As previously disclosed, in the US, in October 2017, AstraZeneca and certain other pharmaceutical and/or medical device […]
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) as ordered Iraq's state-owned oil companies to devise an urgent plan to develop the Mansuriyah (Mansouriya) gas field, following what he described as the delay and the failure of foreign companies to start developing the field. The field, in Diyala province, was awarded in […]
By John Lee. Asiacell boss Faruk Mustafa Rasool (pictured) has announced a $1.6-billion investment in a new tourist city on Kurdistan's Lake Dukan. According to the report from Rudaw, the 3,250-hectare complex will include accomodation, two cable cars, an island, "and many other interesting places”. The Kurdistan Regional Government (KRG) approved the project, which is […]
By John Lee. The spokesman for the Ministry of Electricity, Dr. Musab Sari al-Mudaris [Mussab Serri al-Mudaris] (pictured) has denied reports that he had told Bloomberg about an agreement to buy electricity from Saudi Arabia. He said the statement from the news agency is incorrect. Bloomberg had cited Mudaris as saying that Saudi Arabia agreed […]
By John Lee. The United Nations Assistance Mission for Iraq (UNAMI) has today issued its Yearbook for 2017, outlining what UNAMI and the United Nations Country Team did for Iraq over the past year. It can be downloaded here. (Source: UNAMI)
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Iraqi government has started to seal off the frontier between itself and Syria to try to stop cross-border attacks by ISIL fighters. Only 20 kilometres of the 600 km fence have been […]
