Currency Auction Results, 18th Dec
By John Lee. The Central Bank of Iraq (CBI) has reported that 34 banks and 15 remittance companies took part in its currency auction on Sunday. A total of $162,846,709 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Destroyed Oil Infrastructure costs IS up to $6.5m/mth
In teleconference remarks from Baghdad on Wednesday, the commander of Combined Joint Task Force - Operation Inherent Resolve reported progress and success in the U.S.-coalition forces’ campaign to bring lasting defeat to the Islamic State of Iraq and the Levant. Army Lt. Gen. Stephen J. Townsend described a decidedly different situation in Iraq and Syria […]
Cement Firm Expands Iraq Operations
By John Lee. Pakistan’s Lucky Cement has announced plans to increase capacity at its grinding unit in Iraq. In a statement to the stock market, the company said that together with its Joint Venture partner, it will to increase its existing cement grinding capacity from 0.871 million tons to 1.742 million tons per annum. This expansion […]
Improving Agriculture, Employment and Peace
By Dr. Layth Mahdi. Prior to the 2003 Iraq had adopted an agricultural policy based on the financial, administrative, technical and technological support from the government for the development of the agricultural and industrial sectors. This policy led to the domestic production to provide 75% of the food requirement and a GDP contribution of 7.5%. […]
Italdraghe Delivers Suction Dredger to Iraq
By John Lee. Italy's Italdraghe SpA has delivered a SGT 400 cutter suction dredger, similar to the one pictured, to the Iraqi Ministry of Water Resources. According to a report from Dredging News Online, it is the first of a series of three that the company is supplying to this particular client. (Source: Dredging News […]
Just one Burning Mission: The Children of Iraq
Their Cause Burns in Our Hearts: The Children of Iraq We invite you to join us in a cause that burns in our hearts: the orphans and vulnerable children in Iraq, a place UNICEF calls, "one of the most dangerous places in the world for children." Give the gift of loving intervention in their young lives through access […]
ISIL ‘Failing,’ Defense Leaders Say after London Meeting
The Islamic State of Iraq and the Levant is failing, and the campaign to defeat the terror group in Iraq and Syria is on track, Defense Secretary Ash Carter and U.K. Defense Secretary Michael Fallon said in London today. The Islamic State of Iraq and the Levant is failing, and the campaign to defeat the […]
Military Strikes Hit ISIL Terrorists in Syria, Iraq
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack and fighter aircraft conducted five […]
Petrofac wins $75m Contract with South Oil Company
Petrofac has secured a contract worth US$75 million from South Oil Company (SOC) for its Iraq Crude Oil Export Expansion Project (ICOEEP). The one-year contract, with a one-year option, was awarded following a competitive tender and Petrofac, as the incumbent, plans to build on its four-year track record of safe and successful delivery on behalf […]
Sinopec considers Bid for GKP
By John Lee. Bloomberg reports that Sinopec -- the state-owned China Petroleum & Chemical Corporation -- is considering a takeover of the recently restructured Gulf Keystone Petroleum (GKP). The news agency cites un-named sources as saying that the world’s biggest refiner is working with advisers and has made an approach to the company, which was […]
KRG Announces Higher Oil Exports in Nov
The Kurdistan Regional Government (KRG) has published its monthly production and export revenue overview for November 2016. During the month it exported 588k bpd from the Turkish port of Ceyhan, up from the previous month’s figure, at a decreased average price of $35.05 per barrel, bringing in revenue of $568 million. Please click here to view […]
Coalition Continues Strikes Against ISIL
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq on Tuesday, 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 Bomber and fighter aircraft […]