Kurdistan Region Prime Minister, Nechirvan Barzani, has received Mr. Levon Sargsyan, Ambassador-at-large and Special Envoy of the Armenian Government, and Mr. Karin Gregorian, Ambassador of Armenia to Iraq. Mr. Sargasyan conveyed the greetings of the President and Prime Minister of Armenia to Prime Minister Barzani and stressed his country’s desire to build solid ties with […]
By John Lee. Reuters cites sources as saying that Basra Heavy crude, with an API gravity of 24 degrees, will be sold from May. It will be allocated to companies with technical service contracts, such as Lukoil , Petronas, CNPC, CNOOC, BP, ExxonMobil and Shell. The State Oil Marketing Organization (SOMO) had previously abandoned plans […]
By John Lee. India's oil ministry has instructed state refiners Indian Oil Corp and Hindustan Petroleum Corp (HPCL) to buy eight million barrels of Basra crude oil for delivery in May and June. The country is looking to build up its strategic petroleum reserve (SPR) at the current low market prices. A source told Reuters […]
Iraq wants to expand the presence of Brazilian companies in its market. That was the theme of the visit made by Adel Alkurdi, ambassador of the Arab country in Brasilia, to the Arab Brazilian Chamber of Commerce in São Paulo this Thursday (19th). The diplomat was welcomed by the president of the Arab Chamber, Marcelo […]
By Wassim Bassem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. As soon as merchant Ali Hussein had finished erecting his store at Najaf's "Big Market," 160 kilometers (99 miles) south of Baghdad, construction and decoration experts recommended that he cover the front with colored plastic […]
By John Lee. Several major project announcements are expected shortly in Diwaniyah, according to a report from ConstructionWeekOnline. These including projects attached to the $1.35bn Al-Diwaniyah International Commercial Airport (pictured), which is to be built by Kuwait’s Al-Nasriyah Company, and is due to be completed by the end of 2017. Other projects include a $210-million […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Fourteen companies including Renault Trucks, Legrand and Schneider Electric stand trial, accused of breaching the embargo on Saddam Hussein's Iraq in the 1990s:
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. Truth, Lies And Barrels Per Day: Confusion Reigns in Iraq-Kurd Oil Dispute The deal done to resolve Baghdad's issues with Kurdish oil looks shaky. Both sides have presented different oil […]
By John Lee. The Ruya Foundation for Contemporary Culture in Iraq has announced its plans for the Iraq Pavilion at this year’s 56th Venice Biennale. Titled “Invisible Beauty,” the presentation will feature two generations of Iraqi photographers, in the shape of Latif Al Ani and Akam Shex Hadi, performance artist Rabab Ghazoul, ceramicist and sculptor Salam […]
By John Lee. LUKoil boss Vagit Alekperov (pictured) has reportedly threatened to cut investment in Iraq unless Baghdad offers more oil in return. The Iraqi government reimburses IOCs' costs in physical shipments of oil. LUKoil is a partner in the West Qurna-2 project, and in the development of Block 10. (Source: Reuters)
By John Lee. Ashti Hawrami (pictured), KRG energy minister, has said that Iraqi Kurdistan is expected to reach financial self-sufficiency from Baghdad within months, despite central government withholding the region’s 17 percent share of budget. Speaking to Rudaw, he outlined plans to increase oil production to 750,000 bpd by the end of this year. In a […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Human Rights Watch says Iraqi civilians are being caught between the "horrors of ISIL and the brutality of Shia militias". The rights group accuses government forces, volunteers and Shia fighters of burning and […]
