Iraq Reduces Tolls on Jordanian Trucks
By John Lee. The Jordanian news agency Petra reports that the Iraqi government has reduced the fee charged on all Jordanian trucks entering the country from $2,200 to $700. It also quotes a spokesman of the Jordanian Agriculture Ministry, Nimer Haddadin, as saying that Jordanian trucks were entering and exiting Iraq without obstacles, and denying […]
12 Companies Bid for Nasiriyah Airport
By John Lee. A total of 12 foreign firms are reported to be bidding for the operation of the first civilian airport in Dhi Qar province. The governor of Dhi Qar, Yeha Al Nasiri, said on Sunday that the contract to run the new airport in Nasiriyah would be awarded within the next three months. […]
Kuwait, Iraq Strengthen Ties
By John Lee. The Kuwaiti deputy prime minister, Sheikh Subah Al-Subah [Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah], arrived in Baghdad on Sunday for an official visit. The two sides discussed the promotion of relations between the countries, and the efforts to fight terrorism. Sheikh Al-Subah said that Iraq represents a basic pillar to stabilize the region, […]
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. […]