New Prices for Iraqi Oil, but Basra Heavy 'Delayed'
By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra and Kirkuk crude oil for May. It has also issued separate prices for its new Basra Heavy grade, giving a significant discount to the more desireable Basra Light, but Reuters cites industry sources as saying that shipments […]
NIC Invites Bids for Renewable Energy Plants
By John Lee. Iraq's Ministry of Electricity, in coordination with the National Investment Commission (NIC), have announced an investment opportunity to construct three solar power stations and one wind power station. The plants will capacity of between 5 and 10 MW, and be situated in Diwaniya, Najaf and Missan (Maysan) provinces: Diwaniya: A solar power […]
Blackwater Guards Jailed for Iraq Deaths
By John Lee. Four former Blackwater guards have been given long prison sentences over the killing of 14 Iraqi civilians in Baghdad's Nisoor Square in 2007. Nicholas Slatten received a life sentence for first-degree murder, while Paul Slough, Evan Liberty and Dustin Heard were all sentenced to 30 years on multiple counts of manslaughter, attempted […]
UNESCO Condemns Destruction of Nimrud
The United Nations agency mandated with protecting heritage sites worldwide today denounced further destruction at the archaeological site of Nimrud in Iraq, calling the deliberate damage of culture a "war crime" and pledging to do everything possible to fight it. "I condemn this mad, destructive act that accentuates the horror of the situation. It confirms […]
Shell Staff Raise Money for AMAR
Shell Iraq staff dug deep into their own pockets to raise money for the AMAR International Charitable Foundation. They collected almost £10,000 ($14,700), which Shell management generously agreed to double. The photo from Khanke IDP camp near Dohuk today show AMAR staff distributing essential supplies for babies and young children which were bought with some […]
Video: Diyala Residents fear Shia Militias
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Diyala province is on the border with Iran, and Iranian influence is evident. The Popular Mobilization Force and Shia militias are the real power here. Some analysts fear that the victory over ISIL […]
Call to Investigate Threats Against Reuters Chief
The Committee to Protect Journalists (CPJ) has called on Iraqi authorities to investigate death threats against Reuters' bureau chief in Baghdad and ensure that journalists are able to work in Iraq without fear of reprisal. Ned Parker was forced to flee Iraq following death threats, Reuters reported on Saturday. "Threats aimed at silencing journalists, no […]
Video: PM to ask US for more Arms, Strikes
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi Prime Minister Haider al-Abadi said Monday that he will use a visit to the United States to seek increased air support and arms deliveries to aid Baghdad's battle against jihadists.
Funding Approved for Karbala Airport
By John Lee. Fund has reportedly been agreed for the new Imam Hussein Airport in Karbala. Emirates 24|7 cites local sources as saying that international firms will soon be invited to bid for the project. Land has already been allocated for the project, which Zuhair Abu Dakkah, a member of Karbala’s governing council, described as […]
IS Attacks Baiji Refinery
By John Lee. Islamic State militants (IS, ISIS, ISIL) breached the security perimeter around Baiji [Beiji, Bayji) refinery on Monday, but were repelled by security forces and coalition airstrikes. The 20-square-kilometer site was under siege for five months last summer, until its liberation in November. According to Reuters, provincial council member Khazaal Hammad said the […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th April 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,147 (-0.3%)/ $1,141 (-5.5%) (weekly change) ) (-17.6% and -23.0% YTD change, respectively). The number of week traded […]
Abadi Fires over 300 Army Officers
By John Lee. Prime Minister Haider al-Abadi (pictured) has "[sent] more than 300 officers in the ministry of Defense into retirement. This comes within a plan to reorganize the hierarchy of the Iraqi Army and make it more active and efficient to confront the dangers that face Iraq and to protect its national security. " […]