Video: Musicians Play for Unity and Peace
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq is in the news for all the wrong reasons everyday, but on Sunday, something special happened. Some of the country's best musicians marked international peace day with a performance aimed at unifying […]
Petrel Resources Updates on Prospects
By John Lee. As part of its Interim Statement, Petrel Resources has given the following update on its Iraq operations: "The political uncertainty and civil strife in the Middle East makes it difficult to be optimistic about our activities in Iraq. But progress has been made. A new government has been formed. The Minister of […]
Currency Auction Results, 24th Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 16 banks took part in its currency auction on Wednesday. A total of $200,896,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Weekly Security Update, 16 – 22 September 2014
By Anne-Laure Barbosa at Constellis Consulting On 16 September, Iraq’s parliament rejected two appointees to head the critical defence and interior ministries, two of the most sensitive positions which remain to be filled. The opposition of the Shia Alliance prevented the parliament from reaching a majority vote, which would have been necessary to approve the appointments […]
Record Oil Exports from South
By John Lee. Improved weather conditions and the resolution of some logistical delays have led to an increase in oil exports from Iraq's southern terminals. According to information gathered by Reuters, exports have averaged 2.58 million barrels per day (bpd) for the first 23 days of September, equal to the record post-2003 high achieved in […]
Iraqi Scientist Patents New Chemical
By John Lee. Iraq's Petroleum Research & Development Center (PRDC), part of the Iraqi Ministry of Oil, has successfully patented a new chemical to enhance the octane rating of gasoline. Mr. Kareem Abd Al-Hassan Alwan, the director of PRDC, said that the chief chemist Mr. Zaidoon Khalaf Alsaaidi earned patent No. 3979 for the invention, […]
Beechcraft Wins $16m Iraq Order
By John Lee. Hawker Beechcraft Corporation of Wichita, Kansas, has been awarded a $16,625,317 [19.4 billion Iraqi dinar] modification to a previously awarded contract for contractor logistics support for the Iraq Peace Dragon King Air 350 Program. According to the announcement from the US Department of Defense, the work will be performed in Iraq and […]
New Oil Minister Praises Kuwait
By John Lee. Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] has met with a Kuwaiti delegation led by the country's Ambassador to Baghdad, Ghassan al-Zawawi, to discuss cooperation in the energy sector. The Minister praised Kuwait for its economic and political support for Iraq, and praised Kuwaiti companies for their contribution to the development […]
Syscom 18 "Impacted by Iraq Woes"
By John Lee. Syscom 18, the Romanian-based system integrator for the oil and gas sector, is reported to be "grappling with" the effects of the ongoing conflict in Iraq. General Manager Ion Andronache told Business Review that projects worth “several millions of euros annually” are at risk and could have a negative impact on its turnover. […]
Currency Auction Results, 23rd Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 17 banks took part in its currency auction on Tuesday. A total of $217,007,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Erbil, Iraq and the ISIL Offensive
By Robert Tollast. The following is an interview with an Iraqi finance professional with a degree in Accounting and Finance. He is also a Chartered Certified Accountant with extensive experience in Banking. He returned to Iraq in early 2013 and now works as a Portfolio Manager, travelling across Iraq but residing in the Iraqi Kurdistan. He was kind […]
Iraq Energy Sector: Reality & Expectations
Iraq Energy Sector: Reality & Expectations by Ahmed Mousa Jiyad, Iraq/ Development Consultancy and Research, Phone: (+47) 5659 5699 Email: [email protected] I was the guest speaker kindly invited by Brussels Energy Club (BrEC) for this season’s event that took place in Brussels on 11 September 2014. The event was limited to BrEC members and personal […]