By John Lee. Arabian Business has published a revealing interview with Iraqi Stock Exchange (ISX) chief Taha Abdulsalam al-Rubaye, outlining the incredible challenges the stock exchange has faced since its creation from the old "Baghdad stock exchange" under Iraq's sanctions hit economy of the 1990s. Despite terrifying security challenges, the ISX success has been monumental, but […]
By John Lee. The Italian Industry Ministry has issued a letter to refineries and traders, warning of legal action that may be taken by Iraq's State Oil Marketing Company in the event of purchasing oil from the Kurdish region. At the time of writing, the cargo vessel United Leadership was moored in the Mediterranean, laden with […]
By Ufuk Sanli for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Kurdish administration in northern Iraq and the Baghdad government are at loggerheads over oil exports. The tanker carrying the first cargo of independently exported oil from northern Iraq is crisscrossing […]
By John Lee. Lukoil have announced changes to their contract to work on West Qurna-2, following talks with the Iraqi Minister of Oil Abdul Kareem Luaibi. The new alteration expands the scope of the work to include the Tuba-Fao pipeline, as well as speeding up the process of cost recovery for investors. The Tuba-Fao pipeline […]
By John Lee. The first of 36 Iraqi F-16's will shortly be shipped from Texas to the Iraqi air force, Lockheed Martin have announced. An official ceremony to mark the transfer of the jets will take place at Lockheed Martin's plant at Fort Worth, attended by Iraqi Ambassador to the US Lukman Faily. Iraq Business […]
By John Lee. Iraq has purchased 120,000 tons of rice from the United States, Uruguay and Vietnam, according to Business Recorder. At the closing of the Iraq State Grain Board tender, 30,000 tons of the rice had been acquired from the US, 30,000 tons had come from Vietnam and a further 60,000 tons came from Uruguay, […]
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq has a long history of conflict and rapprochement between Sunni and Shiite clerics, which has played a major role in the sectarian conflict or cohesion among the country’s sects. This […]
By John Lee. DNO International ASA ("DNO"), the Norwegian oil and gas operator, today announced that production from the Tawke field in the Kurdistan region of Iraq reached 120,021 barrels of oil per day in May, the first time average monthly production has exceeded 100,000 barrel per day. May production was split 60-40 between local […]
By John Lee. Michael Knights, a Fellow at the Washington Institute of Near East Policy, has spoken to the Anadolu news agency about problems and opportunities with Iraq's energy sector. In the piece, entitled Iraq Potentially Turkey's Biggest Energy Supplier, Knights discusses the lack of institutional and human capacity which has hindered some of Iraq's more ambitious […]
By John Lee. Ohio based publication The Toledo Blade has reported the beginning of a new trial of three local men accused of intentionally deceiving investors with the now familiar refrain that the Iraqi dinar will dramatically revalue. The accused ran a firm BH Group along with two hedge funds, with one defendant allegedly lying about fighting in Iraq. […]
By John Lee. Al Shorfa has reported an announcement by the provincial governor of Baghdad Riyadh al-Adhadh that infrastructure projects worth 200 billion dinars ($172 million) will be launched shortly in the towns surrounding Baghdad. While the provincial governor announced the news, it is notable that Baghdad's controversial mayor Naim Abub al-Kaabi has come under fire in […]
By John Lee. US heavy industries firm PAT GD JV LLC has been awarded a 17 month contract worth $24.4 million to dredge waterways and install a floating pier in support of the Iraqi Navy through the US Foreign Military Sales (FMS) program. The company, established in 2012 is based in Rochester Hills, Michigan. The award […]
