By John Lee. The Central Bank of Iraq (CBI) has reported that 13 banks took part in its currency auction onThursday. A total of $166,109,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iraq-watchers are eagerly awaiting the announcement of Prime Minister-designate Haider al-Abadi's proposed cabinet, which is due to be put before parliament in the coming week. As always, it will be a difficult balancing act, but now more than ever it will be crucial to get that balance right. Under 'normal' circumstances, it would seem sensible […]
By Patrick M Schmidt. The Kurdish Natural Resource Committee has announced that sales of Kurdish crude oil have exceeded $4 billion over the past year. Current crude export figures hover between 120,000 to 150,000 barrels of oil per day. That crude is then piped up to Turkish ports for export. The committee also confirmed that […]
By John Lee. ShaMaran Petroleum has announced the resumption of drilling operations on the Atrush block in the Kurdistan Region of Iraq. Drilling operations at the Chiya Khere-8 development well were suspended for a total of 21 days by TAQA (the Abu Dhabi National Energy Company), operator of the Atrush Block, as a precautionary measure, […]
Prime Minister Nechirvan Barzani yesterday chaired a meeting of the Kurdistan Region’s High Council for Investment to discuss various issues related to investment and the economy. In the meeting, implications of the current situation and the latest developments in the Kurdistan Region were discussed, as well as the economic crisis and the effects that Baghdad’s […]
By John Lee. Oryx Petroleum has announced an update for its operations in the Hawler license area of the Kurdistan Region of Iraq. Commenting today, Oryx Petroleum´s Chief Executive Officer, Michael Ebsary (pictured), stated: “We are very pleased that tangible improvements to the security environment in the Kurdistan Region have enabled us to resume all […]
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. Underage and Trapped: Female Iraqi Factory Workers Need Help Shayma Hassan, 16, walks 2 kilometers (1.2 miles) each day to the brick factory in Bahr al-Najaf in the city of Najaf, […]
By Patrick M Schmidt. The United Nations (UN) announced that investigators would be sent to Iraq to research the numerous atrocities committed by the Islamic State (IS). The team will consist of eleven investigators who will be budgeted $1.18 million for their inquires and projects. The United Nations currently suspects the Islamic State (IS) of […]
By Patrick M Schmidt. The Iranian Defense Minister, Brigadier General Hossein Dehghan (pictured), confirmed that Iraqi and Iranian security forces have been coordinating their border security efforts. The coordination is aimed at preventing militants from the Islamic State (IS) from crossing the Iran-Iraq border. Dehghan added that the threat of the Islamic State (IS) is […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Wednesday. A total of $197,197,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By Patrick M Schmidt. The governor of Al Diwaniyah officially announced the start of the bidding process for a new airport in the southwest of the province. The project recently received approval from the central government for the construction of a civilian airport. The local government will soon begin presenting the idea to foreign contractors. […]
By Patrick M Schmidt. According to data collected by Reuters and estimates by other energy industry sources, exports from Iraq’s southern oil terminals averaged 2.3 million barrels per day worth of crude oil exports. This figure is almost 140,000 barrels per day less than Iraq’s July figure. Iraqi officials insist the decline was not because […]
