By John Lee. The Iraqi government has declared a four-day holiday starting on Thursday, as the country attempts to cope with temperatures expected to exceed 50 degrees Celsius (122 Fahrenheit). Highest temperatures are expected on Sunday, and in the Central and Southern areas of the country, including Baghdad. Poor electricity supplies will continue to cause […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Erbil-Baghdad Oil Relations Swing between Deal, no Deal Encouraged by more international interest in purchasing its oil, coupled with the apparent failure of the federal Iraqi government to provide agreed-upon […]
By Waleed Kamhieh, Accenture oil and gas consultant. This is an extract from an article originally published by Nina Iraq, and is reproduced here with permission. In June 2015, Iraq produced an average of 3.19 mm bbpd (million barrels per day), the highest level of production since 1980, and it has surpassed the 2.8 mm bbpd […]
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. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Fighter, fighter-attack, bomber and remotely […]
By John Lee. Turkey's energy ministry has confirmed that the smaller of the two parallel pipelines from Kirkuk to Ceyhan (pictured) was sabotaged early on Wednesday in the district of Cizre in Turkey. Only the 40-inch line was operational at the time of the attack, with the parallel 46-inch line currently idled. Crude oil exports […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 10 remittance companies took part in its currency auction on Wednesday. A total of $271,668,000 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Governor of Basra, Majid Al-Nasrawi [Alnasrawi] (pictured), has called on Filipino companies to invest in the province. During a meeting with the country's Chargé d’Affaires, Elmer Cato, he stressed that Basra and the rest of southern Iraq remain safe for investors. Citing the example of the Manila-based International Container Terminal Services Inc. […]
By John Lee. The Chaldean Catholic Archbishop of Erbil, Bashar Warda, has reportedly said he plans to open a Catholic university in Erbil in October. Speaking in Australia, he said university "will embrace our Christian and Yazidi young men and women who were forcefully displaced from their areas and homes in the Plain of Nienveh in […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 23rd July 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,339 (-5.4%) / $1,379 (+0.02%) (weekly change) (-3.9% and -6.9% YTD change, respectively). The number of week traded […]
By John Lee. Iraq's Electricity Minister, Qassem Fahdawi [Qassim al-Fahdawi] (pictured), has reportedly said that his ministry is looking to invest in solar energy projects, in an attempt to solve the continuing shortage of electricity. He said the country produces only about 11,000 MW of power, but needs 21,000 MW. According to Kuwait's KUNA news […]
The Federal Government of Iraq’s Joint Coordination and Monitoring Centre (JCMC) and Kurdistan Regional Government’s Joint Crisis Coordination Centre (JCC) today met in Erbil to discuss how to effectively reach to more than 3 million displaced Iraqis in the country, as funding is drying up. The United Kingdom and UN Development Programme (UNDP) also signed […]
Coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported. Officials reported details of the latest strikes, which took place yesterday, noting that assessments of results are based on initial reports. Airstrikes in Syria Fighter, bomber and remotely […]
