Oryx Petroleum has announced its financial and operational results for the three and nine months ended September 30, 2015 and its capital expenditure budget for 2016. All dollar amounts set forth in this news release are in United States dollars, except where otherwise indicated. Financial Highlights: Total revenues of $4.2 million on working interest sales […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported on Thursday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Fighter, attack, and […]
By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The deteriorating security situation in the Iraqi capital has prevented Noor Jamal Abdul Hamid from going to Mutanabbi Street to shop for books and stationery. Abdul Hamid is a young woman who […]
By Padraig O'Hannelly. This week in London, the Iraq Britain Business Council (IBBC) held its annual Autumn Conference, taking as its theme "Iraq in the Global Marketplace". A full house of senior executives, diplomats and public officials shared their views and experiences of business in Iraq, and discussed what Iraq can do to raise its […]
One of the UKs leading liberal arts institutions is offering a fully funded postgraduate scholarship to students from Iraq. Bath Spa University announced at the Iraq Britain Business Council (IBBC) conference in London that it is offering the scholarship for postgraduate research into Women in Leadership in Higher Education. This new scholarship is part of […]
By John Lee. Iraq has invited interested companies to submit proposals to run a fourth mobile phone service in the country. The state-run Communication and Media Commission (CMC) said the planned license will run for 15 years, with the possibility of renewal. Interested companies have until 20th November to submit papers. Iraq's existing three mobile […]
By John Lee. Occidental Petroleum intends to sell its stake in the Zubair oilfield to Iraq's state-run South Oil Company (SOC), according to a report from Reuters. The news agency quotes ministry spokesman Asim Jihad as saying on Wednesday: "Occidental asked the ministry for permission to sell its stake in Zubair field and the ministry […]
By John Lee. The Iraqi Cabinet has approved the allocation of a plot of land in Basra International Airport to the Ministry of Transport for the purpose of establishing a hotel complex and integrated services facilities. The decision on the 61-acre site was made at the Council of Ministers meeting on Tuesday (pictured), which was […]
By John Lee. The Prime Minister Dr. Haider Al-Abadi chaired a meeting of the Ministerial Committee on Energy (pictured) on Monday. The meeting discussed the status of power supply and the importance of working to improve it, including a proposed project for 400 KV electric transmission lines on deferred payment basis; a program of maintenance, […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Ismail (pictured), has said that he expects Iraq’s foreign currency reserves to total about $60 billion by the end of the year. According to the report from Bloomberg, that is higher than the International Monetary Fund (IMF) predicts, and sufficient to […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 17 remittance companies took part in its currency auction on Wednesday. A total of $173,741,000 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
An International Monetary Fund (IMF) mission led by Christian Josz visited Amman from November 1–10, 2015 to discuss a Staff-Monitored Program (SMP) with the Iraqi authorities. At the end of the visit, Mr. Josz issued the following statement: “Iraq continues to face a number of challenges. Key among those is the ongoing armed conflict with […]
