By John Lee. Dana Gas has repaired its liquefied petroleum gas (LPG) facility at Kor Mor in Iraqi Kurdistan, which was damaged when a tanker smashed into it last year, halting its production of up to 900 tonnes of oil equivalent a day. Dana and its parent company, Crescent Petroleum, remain in negotiations with the Kurdistan […]
By John Lee. Iraqi Railways is to receive two Chinese-build trains within the next two months. The trains are part of a ten-train, $115-million contract with China to develop railways sector. The handover of the remaining trains depends on the completion of the Baghdad-Basra-Umm Qasr railway line, which has been delayed due to lack of funds. […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The conflict in Syria has become increasingly sectarian as it spills over into neighbouring countries. Iraq has essentially closed its border to Syrian refugees, partly to avoid an influx of Sunni muslims. But […]
By John Lee. A spokesman for the Electricity Ministry, Musab al-Mudaris, confirmed on Tuesday that Iraq has signed a deal with Iran to import natural gas for power generation. Associated Press reports that under the four-year deal, Iraq buy 850 million cubic feet a day of gas at international market prices, but UPI says no […]
By John Lee. A Pakistani company identified as "Alkitan" has said it will build a new cement plant in Basra. Company director Shakir Ali told the Basra Investment Commission that they wanted to set up there "due to the abundant natural resources and investment opportunities". He added that the plant will be built on a […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Will a political deadlock, a lack of government control and spiralling chaos push the war-torn nation over the edge? Mike Hanna discusses the reasons behind the increasing violence in Iraq recently with guests: […]
The Acting Special Representative of the United Nations Secretary-General for Iraq (A-SRSG), Mr. Gyorgy Busztin, has condemned in the strongest terms the assassination on 22 July of the Head of the Arab bloc in the Kirkuk Provincial Council and Deputy Chairman of the Provincial Council Security Committee, Sheikh Abdallah Sami Al-Assi, and two of his […]
By John Lee. The Iraqi Oil Ministry has said that exports of crude oil fell in June for the second consecutive month, due to bad weather at the ports and attacks on northern pipelines. Shipments dropped to 69.8 million barrels for the month, or 2.33 million barrels a day (bpd), bringing in a total of $6.8 […]
A unit of Talisman Energy Inc., Calgary, has begun a cased-hole test program of the Oligocene reservoir at the Kurdamir-3 well on the Kurdamir block in the Kurdistan Region of Iraq. Talisman (Block K44) BV drilled the well to 2,895 m about 5 km southwest and downdip of the Kurdamir-2 well in what the block […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Two Iraqi parliamentary committees monitoring fiscal policy in Iraq have held two contradictory positions on the Iraqi currency “reset” project, which would delete three zeros from the currency. There has been […]
The new US Consul General in the Kurdistan Region, Mr Joseph Pennington, met with the KRG's Head of Foreign Relations Minister Falah Mustafa as part of his introductory meetings. He was accompanied by the outgoing Consul General, Mr Paul Sutphin, and the Head of Political/Economic Section at the US Consulate General in Erbil, Mr Stephen […]
By John Lee. The local government in Diyala has announced the start of construction on a 1.5 billion Iraqi dinar ($1.29 million) project to build eight pedestrian bridges, reports al-Shorfa. The bridges, located in Baqubah, al-Meqdadiya and al-Khalis, are being built to facilitate movement and prevent accidents. Local companies are overseeing the project, which is […]
