By John Lee. Iraq's oil exports were up to 2.5 million bpd for April, an increase on March's exports of 2.4 million bpd, despite the inactivity of the major northern Kirkuk-Ceyhan pipeline, which has been inoperable due to insurgent sabotage. A statement from the ministry of oil said that April's total of 75 million barrels […]
By John Lee Iraq's Independent High Electoral Commission has confirmed that the final official results of the April 30th elections will be announced on the 25th of May. So far a number of sources have released preliminary results, or what they have described as a first count. Elsewhere, various parties have claimed an approximate number […]
By John Lee The BBC's Kevin Conolly has published an illuminating piece about the mentality of Baghdad residents who live day to day with the risk of violence. Citing what others have compared to the "blitz spirit" of Londoners during the German air raids in WW2, Conolly describes life in and around Baghdad's famous Mutanabbi […]
By John Lee. Writing in Forbes, correspondent Christopher Helman has written an autobiographical study of Lukoil CEO Vagit Alekperov (pictured) and the company's long term ambition in developing the giant West Qurna 2 field in southern Iraq. Helman notes the stunning scale of the endeavor, which has spanned several decades including a deal with Saddam in 1997 […]
By John Lee. According to Lebanon's The Daily Star, Syria is to tender 100,000 tonnes of soft wheat and 100,000 tonnes of durum wheat to the Iraqi market. Sources quoted inside Syria said that the wheat was excess from last year's harvest that was due for distribution in various parts of Syria, but that this […]
By John Lee. Iran have announced that drilling will begin next year at the Azar oil field, which is known as Badra on the Iraqi side of the border. On the Iraqi side, Badra is operated by Gazprom Neft. Saying that initial activity should yield some 30,000 bpd with a later target of 65,000 bpd, […]
By John Lee. Bloom Properties, the Dubai based multi sector subsidiary of National Holding, has won a major housing development in the Karbala governorate after signing an agreement with the provincial governor Amal al Deen al Hir and the Iraqi National Investment Commission. The 40,000 housing unit development will be constructed in phases over eight […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After around 176 days of a political impasse over power sharing, Iraqi Kurdistan announced that it had started to form its new regional government. Rather significantly, the opposition Change movement […]
By John Lee. Turkish energy minister Taner Yildiz (pictured) has announced that Turkey is ready to market oil from the Kurdish region, currently stored at the port of Ceyhan. Beginning May 2nd, Turkey will market some 1.5 million barrels of oil from storage tanks (which are nearing full capacity) and minister Yildiz said this would […]
By John Lee. The United Nations Security Council have issued a statement commending Iraq on successfully holding parliamentary elections. The statement urges Iraq's political parties to follow up this success by forming a government as quickly as possible and "strengthen national unity." The statement in full: The members of the Security Council welcome the holding […]
By John Lee. Iraq is introducing new Iraqi Dinar notes with improved security features, such as guarantee ribbons and the internationally used SPARK feature. The Central Bank of Iraq treasury director Ihsan Shamran al-Yasseri announced the move, noting that this was a positive step forward that would help strengthen the currency. The new notes, to […]
By John Lee. Iraq's northern Kirkuk-Ceyhan export pipeline has been inoperable since March due to sabotage, while attempts to repair it have been curtailed due to ongoing insurgent activity. Deputy prime minister for energy Hussein al-Shahristani (pictured) explained the urgency of the situation, noting that the area was secure enough to repair the pipeline, but […]
