PM Barzani receives Austrian Foreign Minister
Kurdistan Regional Government’s Prime Minister, Nechirvan Barzani, yesterday in Erbil received the Austrian Foreign Minister, Sebastian Kurz and his accompanying delegation, which included the Chairman of the Foreign Relations Committee of the European Parliament, the Austrian Ambassador to Iraq and a number of senior officials from the Austrian Foreign Ministry, as well as Iraq’s Ambassador […]
Currency Auction Results, 4th Feb
By John Lee. The Central Bank of Iraq (CBI) has reported that 23 banks took part in its currency auction on Tuesday. A total of $69,611,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Weekly Security Update, 26 January - 02 February 2015
National Overview ISIS fighters mount the largest offensive against Kirkuk since July 2014, seizing control of oil and gas facilities as Peshmerga forces defend outer districts of the provincial capital. Preceded by a considerable build-up of militants in the Hawija and Sharqat areas south west of Kirkuk city, the main thrust of the attack occurred […]
Iran to Spend $1.5bn on Iraq Gas Pipeline
By John Lee. Iran has issued a tender to build a second pipeline to carry natural gas to Iraq. Trade Arabia reports that the $1.5-billion project will be granted on a build-operate-transfer (BOT) basis, and all costs will be recovered through revenues from gas exports to Iraq. A pipeline will be built from the Iranian […]
Dubai Sugar Refinery Resumes Shipping to Iraq
By John Lee. Dubai's Al Khaleej Sugar Refinery has resumed exports to Iraq after disruption last summer due to the conflict with Islamic State (IS, ISIS, ISIL). The company is exporting about 600,000 to 800,000 tonnes a year to Iraq, making the country its biggest customer. “We have four vessels queuing in Umm Qasr. It […]
Southern Oil Exports Fall
By John Lee. Exports of crude oil from Iraq's southern ports dipped in January to an average of 2.389 bpd, according to a report from Reuters. This is down from the record high of 2.76 million bpd in December, and was due to bad weather in the Gulf. (Source: Reuters)
Kurdistan and Armenia to Strengthen Ties
Head of the KRG Foreign Relations, Minister Falah Mustafa, today received Ambassador of Armenia to Iraq Mr Karin Gregorian to discuss bilateral ties. In his first visit to the Kurdistan Region, Ambassador Gregorian commended Kurdistan Region for its political and economic developments as well as its culture of peaceful coexistence and religious tolerance. He briefed […]
Khabbaz Oilfield Output Suspended
By John Lee. Production at the Khabbaz oilfield, 20 km southwest of Kirkuk, remained suspended on Monday following severe damage during a weekend attack by Islamic State (IS, ISIS, ISIL) insurgents. Oil Minister Dr. Adel Abdul Mahdi [Adel Abdel Mehdi] (pictured) said there is severe damage to the field, which was recaptured by Kurdish forces on […]
Currency Auction Results, 3rd Feb
By John Lee. The Central Bank of Iraq (CBI) has reported that 23 banks took part in its currency auction on Monday. A total of $64,505,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Oil Minister Announces 3 New Companies
By John Lee. Oil Minister Dr. Adel Abdul Mahdi [Adel Abdel Mehdi] (pictured) has announced the establishment of three new oil companies. The Dhi Qar Oil Company has been set up to put the extraction and production of oil from fields in Dhi Qar under their direct supervision of the people of the province. This […]
Iraq Situation Hits Zain Profits
By John Lee. In its full-year results announced on Sunday, Zain Group CEO Scott Gegenheimer (pictured) said the escalation of political instability in Iraq in 2014 saw several million people displaced internally coupled with Zain Iraq enduring frequent temporary network interruptions and associated higher network operational costs: "These exceptional circumstances adversely affected the operation’s financial […]
Iraq gets Next Batch of Russian Helicopters
By John Lee. The Iraqi Ministry of Defence has taken delivery of another consignment of Russian Mi-28NE attack helicopters. The shipment is part of a deal agreed in 2012, and reported to involve 28 Mi-35M and 15 Mi-28NE helicopters. IHS Jane's 360 reports that helicopters from the previous consignments have been seen flying over Baghdad, […]