North Oil Company boss Assassinated
By John Lee. A senior official at the Iraqi state-owned North Oil Company (NOC) has been assassinated in the city of Kirkuk. The incident occurred on Friday, claiming the life of Saad Ali Hussein, the head of pipeline maintenance at the company, and his driver. According to Reuters, Hussain was appointed NOC's chief of operations after […]
Anti-ISIL Airstrikes Continue 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. Officials reported details of strikes that took place yesterday, noting that assessments of results are based on initial reports. Airstrikes in Syria Fighter, fighter-attack and […]
Iraqi Govt Raids Nightclubs
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. As terror attacks continue, Iraqi government prioritizes nightclub raids During the night of July 18, Iraqi forces raided several Baghdad nightclubs and attacked and arrested the club owners and workers. The Iraqi Interior Ministry apologized […]
Currency Auction Results, 5th Aug
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 8 remittance companies took part in its currency auction on Wednesday. A total of $344,412,918 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
KRG to Start Oil Payments to IOCs
The Kurdistan Regional Government has announced plans to start paying oil companies a proportion of the revenues from crude oil sales. Starting from September 2015, the Kurdistan Regional Government, KRG, will, on a monthly basis, allocate a portion of the revenue from its direct crude oil sales to the producing international oil companies, IOCs, KRG […]
Assessing Government Spending
By Ahmed Mousa Jiyad. Assessing Government Spending This is an updated version of the last part (and the list of consulted references) of the research work commissioned by the Natural Resource Governance Institute (NRGI), USA, as part of the preparation for NRGI’s strategic plan for interlinked and complementary interventions in Iraq during the upcoming three […]
WesternZagros Updates on Garmian, Kurdamir
WesternZagros Resources has issued an update in advance of the company's standard second quarter results which are scheduled for release on 13th August, 2015: Garmian Block Second quarter production from the Sarqala-1 well averaged 5,427 barrels of oil per day ("bbl/d). WesternZagros continues, in accordance with the KRG, to supply this production to the domestic […]
UK Extends Tornado Strikes in Iraq
The frontline RAF Tornado squadron spearheading Britain’s air campaign against ISIL in Iraq will be maintained in service for an additional year until March 2017 the Defence Secretary has announced. In a visit to Baghdad, Michael Fallon announced that 12 (Bomber) Squadron will continue to offer the essential precision firepower, intelligence and surveillance needed for […]
Airstrikes Hit ISIL 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. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Fighter, fighter-attack, bomber and remotely […]
Currency Auction Results, 4th Aug
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 7 remittance companies took part in its currency auction on Tuesday. A total of $352,843,781 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Pipeline Attacks “Cost KRG $250m”
Statement by KRG's Ministry of Natural Resources on attacks on the Kurdistan to Ceyhan oil export pipelines in Turkey Since July 27th, there have been repeated attempted thefts and sabotage attacks on the pipelines that carry crude oil from the Kurdistan Region to Ceyhan (pictured) in Turkey. This has led to an almost complete stoppage […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 30th July 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,271 (-4.5%) / $1,319 (-4.3%) (weekly change) (-8.8% and -11.0% YTD change, respectively). The number of week traded […]