Marathon Expects Kurdish Oil Production by 2015
On Thursday, Marathon Oil Corp. said it expects to start producing oil from its operations in the Kurdish region of Iraq within the next two years. The company posted an 8.4 percent increase in net income for the second quarter of 2013, according to its quarterly report. According to UPI, the company said it is planning […]
PetroChina to Join Exxon on West Qurna Oilfield
China's largest energy firm, PetroChina, will join ExxonMobil in developing Iraq's giant West Qurna oilfield and is in talks with Lukoil to buy into a second project at the field, according to the South China Morning Post. China is already the top foreign player in Iraq's southern oilfields, and a deal at West Qurna would boost […]
Kurdistan Opens Oil Trade Route Via Iran
According to The Express Tribune, Iraq’s Kurdistan region is exporting crude oil by truck to an Iranian port for shipping to Asia, using a trade route that is likely to anger both Baghdad and Washington. In a dispute largely over revenue sharing, Kurdistan’s crude exports through a pipeline controlled by the Iraqi central government, dried […]
Iraq, Libya Outages Could Cut OPEC Output
On Friday, the International Energy Agency warned that oil supply from the Organization of the Petroleum Exporting Countries was falling, as it raised its forecast for demand for the exporters group's crude this year. "Continued supply outages in Iraq and Libya…may reduce the group's output in coming months," the IEA said in its monthly oil […]
Security Remains Top Risk for Iraqi Journalists
By Laith Hammoudi of IWPR. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Jinan Hussein decided to miss the United Nations conference rather than have her brand new iPhone confiscated by a sentry outside the Green Zone in central Baghdad. “I wanted to make a call […]
Iraq Oil Exports Stagnate Due To Port Work
Iraq's oil exports are stagnating compared with numbers from this time last year, and are set to fall sharply next month. This plateau in exports comes as major work is carried out in the vital southern export terminals, Reuters sources explained. Infrastructure and security problems are at the heart of Iraq's struggle to keep pace […]
Wheat Falls As Iraq Shuns US Grain
According to Bloomberg, wheat fell the most in three weeks after Iraq and Egypt shunned U.S. grain in tenders yesterday, indicating ample global supplies. Egypt, the world’s largest wheat importer, bought 60,000 metric tons from both Romania and Ukraine on Aug. 6, while Iraq purchased 150,000 tons of Australian and Canadian grain. “Wheat’s lower because we missed out on […]
UN Releases Study On Corruption In Iraq
Iraq’s Commission of Integrity, with the support of the Central Statistics Office and UNDP Iraq, has announced the findings from its study on corruption and integrity in Iraq’s public sector. This study offered new evidence to help the Government of Iraq, civil society, the UN in Iraq, NGOs and other organizations working in Iraq to […]
Weekly Security Update 31 July - 06 August 2013
By Tom Walker, Director, Assaye Risk COUNTRY OVERVIEW This reporting period has been somewhat quieter in Iraq with a significant drop in the number of high impact attacks and shootings. There remains a daily churn of violence that affects predominantly the northern and central belts yet the intensified bombing campaigns would appear to have slackened, […]
Oil, Sustainable Development, and the Transformation of Iraq
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Oil, Sustainable Development and the Management of the Transformation in Iraq This contribution is based on PowerPoint presentation delivered before the Symposium “Iraq – 10 Years On” held at Tahrir Campus of […]
Pentagon Proposes $2.7B In Iraq Arms Contracts
According to Al Arabiya, the Pentagon has notified the U.S. Congress of $2.7 billion in possible new sales to Iraq of air defense and communications systems. The most recent contracts would raise the value of a series of U.S. arms sales to Iraq that have been sent to Congress over the past two weeks to nearly $5 […]
Basra Free Zone Still Tricky for Foreign Investors
By Murtada Taleb. 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. It was designed to attract investors to Iraq and although things are getting better in Basra’s duty-free zone, there are still many obstacles for foreign investors […]