Qatari FM arrives in Iraq
By John Lee. The Qatari Foreign Minister, Dr Khalid bin Mohamed Al Attiyah, arrived in Baghdad on Thursday on an official visit. He is scheduled to meet a number of Iraqi government officials to discuss relations between the two countries, and the latest developments in the region. He was met on arrival at Baghdad International […]
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. Wednesda and 8 a.m. Thursday, local time, noting that assessments of results […]
Ramadi IDPs find Restrictions, not Refuge, in Baghdad
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Ramadi's Displaced find Restrictions, not Refuge, in Baghdad While the Islamic State (IS, ISIS, ISIL) managed to occupy most of Anbar province and to raise its flags over the local government […]
Security Crisis Sees Harvests Halved
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. Extremists Go Against The Grain: Security Crisis Sees Farmers' Harvests Halved in Northern Iraq As harvest time approaches for farmers in northern Iraq, the security crisis caused by the extremist […]
Tawke Oilfield hits new Record Output
DNO ASA, the Norwegian oil and gas operator, today announced a new daily record of 170,000 barrels of oil produced from the Tawke field in the Kurdistan region of Iraq, of which 30,000 barrels were sold into the local market and the balance allocated for export. Tawke production in the first quarter of 2015 was […]
Iran to Drill Iraqi Oil and Gas Fields?
By John Lee. The head of the state-run Iraqi Drilling Company (IDC), Idriss Mohsin al-Yasiri, is reported to have held closed-door talks with the CEO of Iran’s North Drilling Company, Hedayatollah Khademi. According to Iran's PressTV, Al-Yasiri said the Iranian company was able to provide a “full cycle of services”, and said he expected the […]
Texas Firm wins Deal for Tiger Cutters
By John Lee. Texas Aquatic Harvesting Inc., an aquatic vegetation removal company, is reportedly working on a $2-million (2.3 billion Iraqi dinar) deal with the Iraqi government for 10 tiger cutters. Tiger cutters are 21-foot-long vessels that clear waterways using a pair of blades affixed to their front to shred overgrown vegetation. The company employs […]
Iraqi Bank to Open 5 more Branches
By John Lee. The National Bank of Iraq plans to open five more branches in Iraq by the end of this year, in what Reuters described as a sign that there is still money to be made in much of the country despite civil war and low oil prices. Vice-chairman Ayman Abu-Dhaim told the news […]
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 […]