Iraq has Lost Billions from Gas Flaring
By John Lee. The former head of the Energy Studies Department at the Opec Secretariat in Vienna has said that delays in capturing associated gas from Iraq's oilfields is costing the country billions of dollars. Saadallah Al Fathi told GulfNews.com that the Basra Gas Company (BGC) is very slow in rehabilitating and maintaining the plants […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th February 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,264 (-2.2%) / $1,323 (-2.4%) (weekly change) ) (-9.3% and -10.7% YTD change, respectively). The number of week […]
KRG Pres Barzani meets with US Commander
President Masoud Barzani received a United States military and diplomatic delegation at his office today. The U.S. delegation was headed by General Joseph Votel, the Commander of the Special Operations Command as well as the U.S. ambassador to Iraq and other U.S. defense and state officials. During the meeting President Barzani shared his perspective on […]
Anbar Officials Reject Shiite Forces
By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Anbar Officials Reject Shiite Popular Mobilization Forces Officials in Iraq's Anbar province are concerned about the members of popular mobilization forces carrying out sectarian revenge operations against the residents of the province, […]
Currency Auction Results, 16th Feb
By John Lee. The Central Bank of Iraq (CBI) has reported that 20 banks took part in its currency auction on Monday. A total of $87,650,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Iraqis Play Politics with Mosul Investigation
By Shukur Khilkhal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqis had high hopes when in December, following months of waiting, a committee began an investigation into last June's fall of Mosul to the Islamic State. At the start, the committee banned more than 50 […]
Why Salafists see Shiites as their Greatest Enemy
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Helping Shiite groups in their military operations against Israel or the United States has always been a source of discord among Salafists. Radical Salafists consider both Shiites and Jews the enemies of Islam. But anti-Shiite […]
Jordan Offers Military Assistance to Iraq
By Patrick Schmidt. Following a meeting with Jordanian General Mohammed al-Zaben, Iraq’s Minister of Defense Khaled al-Obaidi announced that Jordan had offered all of its military power to assist in the fight against the Islamic State (IS, ISIS, ISIL). The Jordanian general relayed the message from King Abdullah. Jordan has taken an increasingly active role […]
Kurds Reject Proposed Rival Force in Kirkuk
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A law to found a paramilitary National Guard force in Iraq to assist in the fight against the Islamic State (IS) has put Kurds at loggerheads with other communities in northern […]
Iraq to Launch Offensive Against IS
By Patrick Schmidt. General George Allen, coordinator of the international coalition fighting against the Islamic State (IS), announced that the Iraqi Security Forces would begin a ground offensive against the group in the coming weeks. The offensive will be supported by the international coalition’s airpower. The coalition has launched over 2,000 airstrikes against the Islamic […]
Kurdistan Needs $1.4bn to Stabilize Economy
The Kurdistan Region of Iraq Needs an Estimated US$1.4 billion this Year to Stabilize the Economy The Kurdistan Regional Government (KRG) is facing an economic and humanitarian crisis as a result of the influx of Syrian refugees (starting in early 2012) and more recently the Internally Displaced Persons (IDP) in 2014. According to a newly […]
Iraq Oil Exports for January Decline
By Patrick Schmidt. The Ministry of Oil announced that oil exports averaged 2.516 million barrels per day in January. This number represents a decrease of almost fifteen percent from December 2014. Based on international oil prices, this would create revenue of $3.258 billion. December 2014 boasted revenue of $5.161 billion for Iraq. Oil revenue makes […]