Hawrami Calls for Private Oil Exports
By Padraig O'Hannelly. Dr Ashti Hawrami (pictured), the KRG's Minister for Natural Resources, has clarified the two stage process involved in the recent agreement between Erbil and Baghdad regarding oil exports. Speaking at CWC's Kurdistan-Iraq Oil & Gas Conference recently in London, Dr Hawrami said that the first stage of the resolution covers the issues […]
Open Letter on the Latest Oil Agreement with KRG
The opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Statement/ Open Letter* by Iraqi Energy Experts and Professionals on the Latest Oil Agreement with KRG H.E. the Prime Minister esquire; H.E. the Speaker of the Federal Parliament esquire; T.E: Members of the Federal Parliament and […]
December Crude Exports may Hit Record
By John Lee. Reuters reports that Iraq’s oil exports may hit a record high in December. Shipping data for the first 23 days of December suggest that exports from Iraq’s southern terminals have averaged at least 2.6 million barrels per day. Additionally, the State Oil Marketing Organization (SOMO) has been exporting about 180,000 bpd of […]
Karbala Airport Project Approved
By John Lee. A new civilian airport in Karbala province has been approved, according to a report from Alsumaria News. The Imam Hussein Airport project is to be funded by the Imam Hussein Holy Shrine Authority. It will be constructed in three phases and will have a capacity of 15-20 million passengers a year. It […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th December 2014). Note: ISX will be closed during December 30, 2014 - January 6, 2015 due to the end-of-year closing operations. The next session will be held on Wednesday, January 7, 2015. Please click here to download a table of listed companies […]
Iraq Buys 200,000 Tonnes of Wheat
By John Lee. The Iraqi Grain Board has bought 200,000 tonnes of hard wheat from Canada, the United States and Australia, Reuters reported on Monday: 100,000 tonnes of Canadian wheat, from trading house Richardson at $331.65 a tonne c&f free out (ciffo); 50,000 tonnes of US wheat, from trading house Archer Daniels Midland (ADM) at $333.87 […]
Currency Auction Results, 29th Dec
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Monday. A total of $181,066,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
CWC’s 4th Kurdistan-Iraq Oil and Gas Conference
Highlights from December’s London Conference. By Robert Tollast. According to current plans, the Kurdish region of Iraq will be able to export 1 million barrels of oil in the not too distant future--by some accounts by the end of 2015. By 2020 as much as 10 billion cubic metres of gas will be exported from […]
New Oil Discovery at Block 9
Kuwait Energy has announced that the consortium comprised of Kuwait Energy (70% and operator) and Dragon Oil (30%) has made its second oil discovery at 'Block 9', Iraq. The successful discovery was at the consortium's second target, the Yamama formation at 4,000 meters, in its Block 9 exploration well, ‘Faihaa-1’, located in Northern Basra, Iraq. […]
US Approves $2.4bn Iraq Tank Deal
The US State Department has approved a possible Foreign Military Sale to Iraq for M1A1 Abrams tanks and associated equipment, parts and logistical support for an estimated cost of $2.4 billion. The Government of Iraq has requested a possible sale of 175 Full Track M1A1 Abrams Tanks with 120mm Gun modified and upgraded to the […]
Emirates Airline, Boeing Deliver Aid to Iraq
Emirates Airline and Boeing partnered with a US-based non-profit organization, Another Joy Foundation, to transport a consignment of critically-needed blankets and sleeping bags on board the airline’s newly delivered Boeing 777-300ER (Extended Range). This is the sixth time since 2009 that Emirates and Boeing have collaborated to transport humanitarian aid to countries to the needy in […]
A Year of Iraq's Best Bloggers
2014 has been a stellar year for our dedicated panel of Expert Bloggers. As we draw the year to a close, our newsletter this week highlights just some of their contributions from the previous twelve months. We'd like to thank all of them, and our Guest Bloggers, for their expert analysis and comment, and we […]