Petrojet Wins Major New Iraq Contracts
By John Lee. Egypt’s state-owned Petroleum Projects & Technical Consultations Company (Petrojet) has reportedly won two contracts in Iraq valued at $142.5 million (166 billion Iraqi dinars). In the first contract, worth $75 million, Petrojet will carry out the first phase of the rehabilitation and upgrade of the current facilities in Basra Gas Company, for […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th December 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,370 (+0.2%)/ $1,486 (+0.3%) (weekly change) (-26.5% and -25.2% YTD change, respectively). The number of week traded shares […]
PM Abadi Meets CEO of BP
By John Lee. Prime Minister Dr. Haider Al-Abadi met the CEO of BP, Bob Dudley, in his office on Sunday. During the meeting, they discussed the production and development of oil fields in Iraq, and in particular the oil fields operated by BP in Rumaila and Kirkuk. Dr. Haider al-Abadi expressed Iraq’s interest in increasing […]
Oil Deal a Sign of Hope between Baghdad, Erbil
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. As soon as the oil agreement signed Dec. 2 between the Iraqi government and the Kurdistan Regional Government (KRG) was announced, optimism emerged in Iraqi and international circles, which considered the agreement to be the […]
FM Praises French Assistance against IS
By John Lee. Foreign Minister Dr. Ibrahim al-Jaafari met the French Defense Minister, Jean-Yves Odrian, during a visit to Manama. The Minister praised France's position in the war against terrorism and its support for Iraq, in addition to mobilizing European public opinion against ISIS, describing the French support as "powerful and influential". For his part, […]
KRI "has Preserved its Economic Position"
Dara Jalil Khayat, Chairman of the Kurdistan Federation of Chambers of Commerce and Industry said, “Despite the recent challenges, Kurdistan Region has preserved its economic and trade position. The Kurdistan Region has become an important centre for trade in Iraq and the overall region thanks to its security and stability.” Dara Khayat told KRG.org that […]
Video: Yazidis Face Harsh Winter
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Thousands of Yazidis in northern Iraq are in urgent need of humanitarian aid. Food and fuel supplies are dwindling as many remain trapped on Mount Sinjar after fleeing from ISIL fighters. Iraqi army […]
KRG to Export Natural Gas Soon
By John Lee. The Kurdistan Regional Government (KRG) is reported to be planning to export natural gas to in the near future. The head of the KRG's Industry and Natural Resources Committee, Sherko Jawdat, told BasNews: “This step is still in the beginning, but the process has not gone into the implementation stage yet, however […]
Private Banks Investigated for Money Laundering
By Amina al-Dahabi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A prominent economic official in the Iraqi government, who preferred to remain anonymous, said in an interview with Al-Monitor that out of the 33 private Iraqi banks operating in the country, 29 […]
UNDP Supports Govt Development Prog
The United Nations Development Programme (UNDP) and the Secretariat of the Council of Ministers today signed in Baghdad an agreement reaffirming the commitment of the UN Development agency to support the Iraqi government in its efforts to achieve its 4-year development programme. The General Framework for the Government Development Programme 2014-2018 defines strategic priorities for […]
UK Consul Visits GKP’s Shaikan Facility
UK Consul General Angus McKee visited Gulf Keystone's production facility at the Shaikan oil field on Wednesday, where he was given a tour by company officials. He viewed the production processes, control room and loading of tankers for onward transportation. Following the visit, McKee said: "Kurdistan Region's oil industry is a real success story, and […]
Iraq Improves Transparency Ranking (Slightly)
By John Lee. Transparency International has said that Iraq has risen one place in its global Corruption Perceptions Index (CPI). From at total of 175 countries, Iraq came in at number 170, slightly better than last year's position of 171. This result puts it ahead of countries such as Afghanistan, South Sudan, and Somalia (which […]