Iraq Business News Expert Blogger, Ahmed Tabaqchali, has just published his thoughts on the 20-year anniversary of the US invasion of Iraq, for the Atlantic Council. Click here to read the full article.
By John Lee. Oil prices surged on Monday after several producers, including Iraq, announced an unexpected cut in production. Iraq's Ministry of Oil said it has voluntarily decided to reduce production by 211,000 barrels per day (bpd), starting from May, and continuring until the end of 2023. According to BBC, Saudi Arabia is reducing output […]
By John Lee. The Karbala Oil Refinery, Iraq's first oil refinery to operate with modern technologies, has been opened by Prime Minister Mohammed S. Al-Sudani. Built by Korean company Hyundai, the refinery has a capacity of 140,000 barrels per day and meets the latest environmental-friendly European standards. It includes a power plant with a capacity […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for March: Total exports: 100,913,027 barrels Revenues: $7.404 billion Average daily exports: 3.255 million barrels Average price per barrel: $73.37 Exports from central and southern Iraq: 98,875,692 barrels Exports from Kirkuk through the port of Ceyhan: 1,727,494 barrels While not explicitly stated by […]
By John Lee. Iraq and the Sultanate of Oman are finalising a memorandum of understanding (MoU) in the field of combating corruption. The Iraqi Integrity Commission's head, Judge Haider Hanoun, praised Oman's cooperation with the commission regarding extradition, including the arrest of fugitives by Omani authorities. Talks are underway to conclude the MoU to exchange […]
By John Lee. The United Nations (UN) Secretariat has awarded several Iraq-related contracts recently: Supply and installation of prefab unit offices for Ninewa Water Directorate and Mosul Municipality: Granted to Jibal Al-Madina co. for general contracts Ltd. Contract value $39,900; Rehabilitation of 26 Damaged Houses in Jafriyah Village, Sinjar District, Ninewa Governorate: Granted to Aswar Al-Hadhaba […]
By John Lee. The Saudi EXIM Bank has announced the signing of an agreement with Iraqi Islamic Bank for Investment and Development for a new, SAR75-million [$20 million] credit line. The new credit line is the latest addition to the broad portfolio of financial instruments that Saudi EXIM Bank provides to national financial institutions to […]
By John Lee. The Prime Minister of Iraq, Mohammed S. Al-Sudani, has approved the recommendations of a committee investigating corruption in the Umm Qasr port. The committee found that private companies operating at the General Company for Iraqi Ports were charging additional fees not approved by the Ministry of Transportation, leading to increased prices for […]
By Hayder Al-Shakeri for Chatham House. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Are new US financial restrictions on Iraq missing their target? The latest restrictions are a symptom of increased US-Iran tensions. But as Iraq's elite find ways around them, ordinary Iraqis […]
By Hamdi Malik and Michael Knights for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Profile: Communications and Media Commission After falling under the control of "resistance"-linked board members, this key Iraqi media institution began a widespread […]
By John Lee. The World Bank's latest Global Gas Flaring Tracker Report, a leading global and independent indicator of gas flaring, finds that global gas flaring decreased by three percent to 139 bcm in 2022 from 144 bcm in 2021 Consistent with previous years, flaring during 2022 was dominated by a relatively small number of […]
WFP Iraq partners with the Ministry of Trade to Reform the Public Distribution System In Iraq The United Nations World Food Programme (WFP) signed a Letter of Cooperation (LoC) with the Government of Iraq's Ministry of Trade (MoT) to formalize their collaboration to reform the Public Distribution System (PDS) in Iraq. By signing the LoC, […]
