By John Lee. A director of the National Iranian Gas Company (NIGC) has said that Iran plans to begin supplying natural gas to Iraq on a regular basis by May of this year. Azizollah Ramezani said about six to seven kilometers of the pipeline has yet to be laid on the Iraqi side of the […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 17 banks took part in its currency auction on Monday. A total of $166,606,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Reuters reports that a shipping insurer has warned that Iranian oil is being disguised as Iraqi, in an attempt to flout sanctions on Tehran. Insurer West of England said that Iranian crude labelled as Iraqi crude from Basra was being transferred ship-to-ship (STS) by smugglers at the Khor Fakkan port in the […]
His Excellency the Governor of Basra, Dr Majid Al-Nasrawi, together with representatives of the Basra Provincial Council, Mr Aqeel Al Khalidi, Mr Hayder Al Saadi, Mr Jabbar Al Saadi, and Mr Munther, joined the Chairman of the Iraq Britain Business Council (IBBC), Baroness Emma Nicholson, in a dinner at the new Shams Hotel on the […]
Kurdistan Regional Government Prime Minister, Nechirvan Barzani, received last Tuesday the President of the International Committee of the Red Cross, ICRC, Mr. Peter Maurer, accompanied by the head of ICRC Erbil office and ICRC representative in Iraq. Mr. Maurer praised the Kurdistan Regional Government for the efforts it exerts to improve human rights and prisoners […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. In Iraq, Sunni tribes have been recruiting more fighters to join the battle against the Islamic State of Iraq and the Levant. The government has started to supply the tribesmen with more weapons […]
By John Lee. Reuters reports that the State Oil Marketing Organization (SOMO) is planning to export 3.3 million bpd of Basra crude from its southern ports in February. December's total figure hit 2.94 million bpd, the highest since 1980, of which a record 2.76 million bpd of oil was exported from the country's southern terminals. (Source: […]
By John Lee. The Speaker of the Iraqi parliament, Salim al-Jabouri (pictured), has said that Iraq's relations with Turkey are key to stability in Iraq and the Middle East. Speaking ahead of his planned visit on Sunday, he told The Anadolu Agency that Turkey was a "very important country for Iraq and Iraqis ... If we […]
By Patrick Schmidt. The Kingdom of Saudi Arabia recently announced a plan to build a 600-mile “Great Wall” along its border with Iraq. The announcement follows continued violence in Iraq as the Islamic State (IS) still controls vast swaths of the country. The plan had previously been discussed in Saudi Arabia as early as 2006, […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Shia militias in Iraq have been given backing by the government and as a result are growing bigger and stronger by the day. Many of them recently merged under the banner of the […]
By John Lee. Fouad Hussein, a member of the Kirkuk provincial council’s oil and gas committee, has told Bloomberg that Iraq will double shipments of Kirkuk crude “in the coming few weeks” from about 150,000 bpd currently to 300,000 bpd. To achieve this, he said that it will be necessary to install a new pipeline […]
By John Lee. Petroceltic International has given the following update this morning on its operations in the Kurdistan Region of Iraq: "Further to the temporary suspension announced on 11 August, drilling operations resumed at the Shireen exploration well on 2 October 2014. "Since recommencement, the well has encountered challenges with casing and cementing at high […]
