Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
Sri Lanka's Ambassador to Iraq, Mr Amaralal Sumith Nakandala, last Wednesday met with the Kurdistan Regional Government's Head of Foreign Relations to discuss ways of establishing relations between the Kurdistan Region and Sri Lanka. Ambassador Nakandala's visit is the first by a Sri Lankan diplomat to the Kurdistan Region and follows the re-opening of the […]
By Harith Hasan for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Last month, demonstrators in the southern Iraqi cities of Nassiriya and Basra organized nightly rallies to protest the government’s failure to provide enough electricity for households during the notoriously hot summer. With temperatures exceeding 113 degrees Fahrenheit during July […]
On Thursday, Marathon Oil Corp. said it expects to start producing oil from its operations in the Kurdish region of Iraq within the next two years. The company posted an 8.4 percent increase in net income for the second quarter of 2013, according to its quarterly report. According to UPI, the company said it is planning […]
China's largest energy firm, PetroChina, will join ExxonMobil in developing Iraq's giant West Qurna oilfield and is in talks with Lukoil to buy into a second project at the field, according to the South China Morning Post. China is already the top foreign player in Iraq's southern oilfields, and a deal at West Qurna would boost […]
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 […]
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 […]
By Murtada Taleb. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. It was designed to attract investors to Iraq and although things are getting better in Basra’s duty-free zone, there are still many obstacles for foreign investors […]
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 […]
Prime Minister Nechirvan Barzani met Turkey’s Prime Minister Receb Tayyip Erdogan to discuss recent developments in the Middle East, bilateral relations, the situation in Syria, developments in Iraq and the preparations for the Kurdish national congress. Mr Barzani was accompanied by the Kurdistan Regional Government’s Deputy Prime Minister Emad Ahmed, Natural Resources Minister Ashti Hawrami […]
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By John Lee. The government of Iraq wants to purchase nearly $2-billion worth military equipment from the United States. The Defense Security Cooperation Agency (DSCA) notified the US Congress of the following intended deals: 50 M1135 Stryker Nuclear, Biological, and Chemical Reconnaissance Vehicles (pictured) and associated equipment, parts, training and logistical support for an estimated […]
