Currency Auction Results, 26th May
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks and 4 remittance companies took part in its currency auction on Tuesday. A total of $232,814,397 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Basra Heavy Trading at Discount
By John Lee. According to a report from Reuters, the new Basra Heavy crude oil grade has been trading at a widening discount. Malaysia's Petronas reportedly sold 2 million barrels for June loading to Indian refiner Essar Oil at a discount of more than $1 a barrel to its official selling price. bigger than expected […]
Iraq Plans Big Increase in Oil Exports
By John Lee. Iraq is planning to boost crude exports by about 26 percent, according to a report from Bloomberg. Shipping schedules suggest exports of a record 3.75 million bpd in June. Deputy Oil Minister Fayyad al-Nimaa said recently that export capacity is currently capped at 3.1 million bpd. Commenting in Forbes, petroleum economist Michael […]
Latest Airstrikes Against ISIL Targets
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, which took place between 8 a.m. Monday and 8 a.m. Tuesday, local time, noting that assessments of results […]
Video: Army Launches Offensive to Retake Anbar
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq has launched a military operation to try and retake Anbar province from ISIL. Shia militia are involved in the operation - which some fear could raise sectarian tensions. Al Jazeera's Imran Khan […]
Video: Can Iraq win back Anbar?
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Professor Saad Jawad, a senior fellow of the Middle East Centre at The London School of Economics, joins us to discuss the difficulties and opportunities that the Iraqi government will face in reclaiming […]
Kurdistan Oil Production at Record Levels
According to the April 2015 report published by the Kurdistan Regional Government, KRG, Ministry of Natural Resources, KRG commitments under the 2015 Federal Budget Law have been met, and oil production has reached record levels. According to an agreement on oil export and budget, reached last December between the KRG and the Federal Government of […]
Expert Blog: Iraqi Extractive Industry
By Ahmed Mousa Jiyad. Iraq Extractive Industry: Legal, Fiscal and Revenue Allocation and Management Issues This is an Executive Summary of a 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 years. This […]
Interview with Japanese Ambassador to Iraq
By Lemya Ayub. This is an extract from an article originally published by Nina Iraq, and is reproduced here with permission. Interview with H.E. Ambassador of Japan to Iraq, Mr. Kazuya Nashida It is 2:00 pm Monday afternoon. I have been preparing my questions and kind of know what to expect, however, I am also […]
Baghdad-Kirkuk Highway Reopens
According to a report from BasNews, the Baghdad-Kirkuk highway was reopened on Monday, having been closed since March 2nd due to attacks and threats from the Islamic State (IS, ISIS, ISIL). For the moment, it is only open to personal vehicles, taxis and buses, and is not yet open to trucks. The Shi’ite militia group Hashid […]
Latest Airstrikes Against ISIL Targets
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant (ISIL, ISIS, IS) terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported. Officials reported details of the latest strikes, which took place between 8 a.m. Sundayand 8 a.m. Monday, local time, noting that assessments […]
Currency Auction Results, 25th May
By John Lee. The Central Bank of Iraq (CBI) has reported that 21 banks and 1 remittance company took part in its currency auction on Monday. A total of $172,610,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)