According to The Express Tribune, Iraq’s Kurdistan region is exporting crude oil by truck to an Iranian port for shipping to Asia, using a trade route that is likely to anger both Baghdad and Washington. In a dispute largely over revenue sharing, Kurdistan’s crude exports through a pipeline controlled by the Iraqi central government, dried […]
On Friday, the International Energy Agency warned that oil supply from the Organization of the Petroleum Exporting Countries was falling, as it raised its forecast for demand for the exporters group's crude this year. "Continued supply outages in Iraq and Libya…may reduce the group's output in coming months," the IEA said in its monthly oil […]
By Laith Hammoudi of IWPR. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Jinan Hussein decided to miss the United Nations conference rather than have her brand new iPhone confiscated by a sentry outside the Green Zone in central Baghdad. “I wanted to make a call […]
Iraq's oil exports are stagnating compared with numbers from this time last year, and are set to fall sharply next month. This plateau in exports comes as major work is carried out in the vital southern export terminals, Reuters sources explained. Infrastructure and security problems are at the heart of Iraq's struggle to keep pace […]
According to Bloomberg, wheat fell the most in three weeks after Iraq and Egypt shunned U.S. grain in tenders yesterday, indicating ample global supplies. Egypt, the world’s largest wheat importer, bought 60,000 metric tons from both Romania and Ukraine on Aug. 6, while Iraq purchased 150,000 tons of Australian and Canadian grain. “Wheat’s lower because we missed out on […]
Iraq’s Commission of Integrity, with the support of the Central Statistics Office and UNDP Iraq, has announced the findings from its study on corruption and integrity in Iraq’s public sector. This study offered new evidence to help the Government of Iraq, civil society, the UN in Iraq, NGOs and other organizations working in Iraq to […]
According to Al Arabiya, the Pentagon has notified the U.S. Congress of $2.7 billion in possible new sales to Iraq of air defense and communications systems. The most recent contracts would raise the value of a series of U.S. arms sales to Iraq that have been sent to Congress over the past two weeks to nearly $5 […]
The KRG’s Head of Foreign Relations recently received Armenia’s Deputy Minister of Economy, Mr Tigran Harutyunyan, and his delegation who were on a four-day visit to the Kurdistan Region. Deputy Minister Harutyunyan, who has visited the Kurdistan Region before, said that the aim of his visit is to further develop ties between Kurdistan and Armenia. […]
The North Oil Company has announced the resumption of oil flow in the pipeline from the Kirkuk oilfields to the Turkish port of Ceyhan after being shut off for three days because of repairs to a damaged line. A source from the company was quoted by the National Iraqi News Agency, saying that the maintenance […]
On Monday, the Central Bank of Iraq announced the increase of its US Dollar sales during Monday's auction after reaching $16278000 last Sunday. "The total US Dollars sold by the bank amounted to $288639000 at price of 1166 IQD per US dollar during the auction, which included the participation of twenty-four banks," CBI reported in a […]
According to police, at least 11 people were killed and 28 more wounded in the latest violent wave of attacks in Iraq on Monday. Xinhua News, quoting an anonymous police source, said that three people were killed and 20 others injured when a car bomb exploded in a market in the Tall Afar area west […]
MP, Aziz al-Mayahi, of the Economy and Investment Parliamentary Committee is demanding that the Ministry of Trade accelerate distribution of the second portion of rice scheduled for the Holy month of Ramadan. ''The Minister of Trade Khairallah Hassan Babekir promised to distribute an extra portion of rice for people during Ramadan, while the first rice […]
