U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Wednesday, conducting 27 strikes consisting of 33 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday's strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, […]
By Nahwi Saeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. In a July 19 statement, Kurdistan Regional Government President Massoud Barzani said that holding a referendum is a natural right of the people of Kurdistan that they will not back […]
By John Lee. Iraq opened the books yesterday on its first independent bond sale in a decade. "Investor demand was huge," writese Marcus Ashworth at Bloomberg. "The deal was seven times oversubscribed." The $1-billion, dollar-denominated bond, maturing in March 2023, was expected yield 7 percent, but demand enabled that to be cut to 6.75 percent. […]
By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for July of 100,144,814 barrels, giving an average for the month of 3.230 million barrels per day (bpd), slightly less than the 3.273 bpd exported in June. The exports were entirely from the southern terminals, with no exports from Kirkuk via Ceyhan. Revenues for […]
Advertising Feature Key figures of the Iraqi Government and Ministries have confirmed their attendance at the annual Basra Oil, Gas & Infrastructure Conference due to take place on 30-31 October in Beirut, to highlight the current investment projects available in Basra’s multiple industries and facilitate a direct dialogue towards promoting further business in Iraq’s Economic […]
The US State Department has approved a possible Foreign Military Sale to the Republic of Iraq for Follow-On Technical Support (FOTS) for U.S. origin Navy vessels and a ship repair facility. The estimated cost is $150 million. The Defense Security Cooperation Agency (DSCA) delivered the required certification notifying Congress of this possible sale today. The […]
Kurdistan Region Prime Minister Nechirvan Barzani received Mr. Abu Magsoud Forhad, Bangladesh's Ambassador to Iraq. Ambassador Forhad discussed his government’s intention to open in Erbil an office of his country’s Iraq embassy. Discussing the situation of the Bangladeshi nationals, resident in Iraq and Kurdistan Region, he said opening of embassy’s office in Erbil will facilitate […]
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Tuesday, conducting 12 strikes consisting of 16 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday's strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, […]
By John Lee. The International Monetary Fund (IMF) has predicted average growth of 3.1 percent annually in Iraq's non-oil real GDP until the end of 2022. This compares to an average fall of 7.2 percent per annum from 2014 to 2016, following the insurgency by the Islamic State group (IS, ISIS, ISIL, Daesh). It also […]
Swiss-based ABB has won an order to supply and install a substation at the 3,000 megawatt (MW) Rumaila power plant, located in the Basra region of southern Iraq. The completed power plant will be operated by Shamara Holding Group (SHG), one of Iraq’s largest private industrial conglomerates and an independent power producer. The Rumaila power […]
The Executive Board of the International Monetary Fund (IMF) has completed the second review of Iraq’s three-year Stand-By Arrangement (SBA), which is designed to support Iraq’s economic reform program and restore fiscal balance over the medium term. The completion of the second review allows the authorities to draw the equivalent of SDR 584.2 million (about […]
By John Lee. Dari Concepts LLC of Las Vegas, Nevada, has been awarded an $8,127,889 contract for line haul services in support of Operation Inherent Resolve. Work will be performed in Iraq, with an estimated completion date of Aug. 31, 2017. (Source: US Dept of Defense)
