Essential Services Reestablished in Tikrit
Mayor of Tikrit: With the help of UNDP, people have reestablished essential services for our community The Mayor of Tikrit, Omar Tariq Ismail, says he is proud of the progress his city has made in the past seven months following liberation from the control of the Islamic State of Iraq and the Levant (ISIL). “With […]
849 Iraqis Killed in January
A total of 849 Iraqis were killed and another 1,450 were injured in acts of terrorism, violence and armed conflict in Iraq in January 2016*, according to casualty figures released today by the United Nations Assistance Mission for Iraq (UNAMI). The number of civilians killed in January was 490 (including 24 federal police, Sahwa civil […]
Coalition Continues Anti-ISIL Strikes in Syria, Iraq
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported on Monday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack and fighter […]
KRG Clarifies Payments - Oil Shares Up Sharply
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up 28 percent on the London market this morning, after the Kurdistan Regional Government's Ministry of Natural Resources clarified its export payment plan for foreign oil companies. Other companies with exposure to Iraqi Kurdistan, includingn Genel Energy and DNO, also saw their shares rise significantly. […]
China in $18bn Iraq Pipeline Deal
By John Lee. The China Petroleum Pipeline (CPP) and private company Mass Global have reportedly formed a consortium to build an $18-billion export pipeline from Basra to the Jordanian Red-Sea port of Aqaba (pictured). Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] told Reuters: “The two companies will submit their investment offer to the oil […]
Iraq to Revive National Oil Company (NOC)
By John Lee. Iraq's Oil Ministry is preparing a draft law to revive the National Oil Company (NOC), which was set up in the 1960s but merged into the Oil Ministry in 1987. Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] (pictured) told Reuters the move would be “vital for the development of the energy sector” […]
Explosion Damages Gas Pipeline Near Kirkuk
By John Lee. An explosion on Friday has damaged a section of the pipeline that supplies gas for about half of the electricity generation in Iraqi Kurdistan. The KRG's Interior Ministry said an investigation was underway to find the cause of the explosion near the district of Shwan. The pipeline feeds gas from the Khor […]
Iraq Willing to Cut Oil Production
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] (pictured) has said Iraq was willing to accept a decision by OPEC and non-OPEC members to cut crude production. Reuters quotes the Minister as saying: “Iraq will agree and cooperate if producers really want to cooperate to cut.” (Sources: Reuters, Shafaaq)
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th Jan 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD925 (-2.1%) / $960 (-1.3%) (weekly change) (-15.2% and -16.2% YTD change, respectively). The number of week traded […]
Military Strikes Hit ISIL Terrorists in Syria, Iraq
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported on Sunday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter, and […]
Currency Auction Results, 1st Feb
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 20 remittance companies took part in its currency auction on Monday. A total of $154,530,043 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Kirkuk Oil Flowing, but Locals Never See Any Money
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. Where Are The Petrodollars? Kirkuk Oil Flowing Fast, But Locals Never See Any Money The province of Kirkuk exports millions of barrels of oil per month. But nobody knows where […]