From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. A power struggle is underway in the northern Iraqi town of Sinjar. Much of it is in ruins after Kurdish fighters, aided by US air strikes, defeated ISIL. But many of them are […]
Iraq’s Oil Ministry announced that Tehran and Baghdad have signed a memorandum of understanding (MoU) to carry out studies on the construction of a pipeline to export crude oil from the northern Iraqi fields of Kirkuk via Iran. In a statement, the Iraqi ministry said the agreement was signed during a recent ceremony in the […]
Russia's Rosneft group has started drilling its first exploration well at Block 12 in Iraq. The Salman-1 well will be drilled to the measured depth of 4,245 m through Kurra Chine target horizon to be followed by further testing of five prospective targets. The Company plans to complete drilling in July 2017. Company of Rosneft […]
Global Telecom Holding (GTH), an Egyptian joint stock company, today announces that, as previously disclosed, on 19 November 2012 Atheer Telecom Iraq Limited initiated English High Court proceedings against Orascom Telecom Iraq Ltd. (OTIL) and GTH in relation to a dispute arising from 2007 sale of Iraqna, OTIL's Iraqi mobile subsidiary, to Atheer. Pursuant to […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Sunday, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria Coalition military forces conducted 16 strikes consisting of 29 […]
In his first trip to Baghdad as defense secretary, Jim Mattis today praised the Iraqi army for its resilience and noted the forces are now focused on liberating west Mosul. The Iraqi army has the full support of the more than 60 members in the coalition fighting the Islamic State of Iraq and Syria, Mattis […]
By John Lee. National Investment Commission (NIC) Chairman Dr. Sami Al-Araji and Iraqi Permanent Representative in the UN, Ambassador Muhammad Ali Al- Hakeem, met recently with the Italian Deputy foreign Minister, Mr. Vincenzo Amendola, at the Italian Representation Headquarter in the UN. During the meeting the two sides discussed bilateral relations and the Italian efforts […]
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has announced an increase of 10 billion barrels in Iraq's oil reserves, bringing its total proven reserves to 153 billion barrels. He said the increase comes from seven oil fields in central and southern Iraq, but did not name the fields in question. Iraq will ask […]
By John Lee. US Defense Secretary Jim Mattis has promised that the Trump administration will not try to take Iraq’s oil. On Monday, during his first trip to Iraq as Pentagon chief, he told reporters: “All of us in America have generally paid for our gas and oil all along, and I am sure we […]
By John Lee. Kuwait-based telecommunications group Zain has said that revenues at its Iraqi unit fell by 11 percent in 2016. In its full-year results, the company blamed "exceptional circumstances" with revenues for the full-year reaching USD 1.1 billion, and EBITDA reaching USD 394 million, down 18 percent, with a net loss of USD 5 […]
The military operations to retake Mosul from the Islamic State of Iraq and the Levant (ISIL) resumed on 19 February. Iraqi Security Forces are moving towards the city from the south-west, through lightly-populated areas. To date, some 160,000 of the almost 217,000 people who have fled hostilities since 17 October are living in displacement, while […]
By John Lee. Iraqi Prime Minister Dr. Haider Al-Abadi has expressed his thanks for the international support his country has received in its fight against the Islamic State group (IS, ISIS, ISIL, Daesh). Speaking at the Munich Security Conference, he said: "On behalf of the Iraqi people, I extend my sincere thanks to your countries […]
