Iraq On Verge Of Economic Collapse?
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A Bigger Threat Than The Extremists: Iraq On Verge Of Economic Collapse? The high cost of fighting the extremist Islamic State group, the worldwide decrease in oil prices, corruption and […]
Baiji Refinery to Reopen in 3 Months
By John Lee. It will take an estimated three months to restart the giant Baiji refinery, after government troops re-took the facility from Islamic State fighters earlier this week. Bloomberg quotes an engineer at the plant as saying that workers have fled to other provinces, refinery units need maintenance, and militants still control part of the […]
UN: Inclusive Political Process is Critical
As Iraq struggles to deal with the increasing security threat of the Islamic State of Iraq and the Levant (ISIL) as well as with dire financial and humanitarian conditions, the United Nations envoy to the country has cited an inclusive political process as vital to finding comprehensive solutions. In an interview with UN Radio, Nickolay […]
KRG Ships 25m Barrels of Crude though Turkey
By John Lee. The Kurdistan Regional Government (KRG) has reportedly pumped 25 million barrels of crude oil through its independent oil pipeline to the Turkish port of Ceyhan. Turkish Energy Minister Taner Yildiz (pictured) said on Thursday that the oil was shipped from the port in 35 separate cargoes. (Source: Reuters)
U.S. Ambassador Visits Erbil IDP Camps
On November 19, U.S. Ambassador Stuart Jones visited Erbil to assess efforts to address the urgent humanitarian needs of displaced populations in the Iraqi Kurdistan Region (IKR). To date, the United States Government (USG) has contributed more than $202 million in support of the international humanitarian response to the complex emergency in Iraq, which began […]
Kurdistan's Battered Women
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Kurdistan's Battered Women: Out Of Shelters, Into Danger And Honour Killings When a woman leaves a shelter for battered women in Iraqi Kurdistan, her family often has to sign a […]
Turkish Refiner to Buy Kurdish Crude via SOMO
By John Lee. Turkish refiner Tupras is to buy crude oil from Iraq Kurdistan sold by the Baghdad's State Oil Marketing Organisation (SOMO). The company's Deputy General Manager, Hasan Tan, told reporters the oil will be sent by pipeline to the Turkish Mediterranean port town of Ceyhan. The announcement comes a week after Baghdad and […]
West Qurna-2 Drives Growth at Lukoil
In the first 3 quarters of 2014, the production of marketable hydrocarbons at LUKOIL Overseas (the operator of LUKOIL's international upstream projects) reached 70 million barrels of oil equivalent – a 44 percent year-on-year increase and a new record for LUKOIL's upstream operations abroad. Oil production more than doubled to reach over 6.5 million tons […]
Atrush First Oil on Schedule
By John Lee. TAQA, the Abu Dhabi National Energy Company, has said that first oil from its Atrush Block in Iraq is on schedule for late 2015. The company said that operations have resumed following a brief interruption to drilling activities after increased regional instability in August. (Source: TAQA)
Baghdad Transfers $500m to Erbil
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Iraqi government transferred $500 million to the autonomous Kurdish region on Wednesday as part of a deal aimed at ending long-running oil and budget disputes, the finance minister said:
Currency Auction Results, 20th Nov
By John Lee. The Central Bank of Iraq (CBI) has reported that 17 banks took part in its currency auction on Thursday. A total of $205,645,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
No Excuse for Excessive Holidays
By Padraig O'Hannelly. A recent report from Al Monitor highlights the shocking number of official and unofficial holidays in Iraq, and the affect that this is having on commercial activity and education. But that's just part of the picture. Due to its plentiful oil reserves, many would consider Iraq to be an example of a […]