Weekly Security Update 26 March - 01 April
By Tom Walker, Director, Assaye Risk COUNTRY OVERVIEW After the hiatus of last week Iraq has once again seen increased levels of violence, especially in Baghdad province and along the Tigris River valley, with the ISF and provincial politicians from both sides of the sectarian divide bearing the brunt of the violence. In line with […]
Indonesia Buys June-Dec Basra Light Crude
By John Lee. Indonesia has signed a deal with Iraq's State Oil Marketing Organization (SOMO) to buy Basra light crude in the second half of 2013. According to reports from Reuters and Jakarta Globe, Iraq is winning more customers in Asia as it is selling its crude cheaper than comparable grades, undercutting rival Saudi Arabia […]
Iraq Set to Expand Free Trade Zones
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq, with its privileged geographical location, plans to improve the performance of its three free-trade zones. It also intends to establish new free-trade zones as part of efforts to diversify its […]
US, Iraqi Ministry of Health Sign Agreement
The United States Government, through the U.S. Agency for International Development (USAID), signed a Memorandum of Understanding with the Iraqi Ministry of Health, outlining U.S. support for the Ministry to strengthen its service delivery and overall management. The agreement is part of the U.S. commitment to support efforts by the Government of Iraq to improve […]
Experts Pressure Govt to Make Marshes a Natural Reserve
By Matthew Gayle. While attending festival in southern Iraq, Iraqi experts urged the government to declare the Iraqi marshes in that region a national park. The festival was part of a series of activities that the Iraq Nature Organization is developing to lobby the government and international bodies to declare the marches a natural reserve. […]
Akkas Attack - KOGAS Sticks to Schedule
By John Lee. The Korean Gas Corporation (KOGAS) said on Wednesday that an attack on its operations at the Akkas gas field in Anbar will not delay its plans to start commercial production in September 2015. A spokesman for the state-run company told Platts: "There was no major damage to the facilities at the field, […]
KRG Clarifies Incident at HKN Energy Block
By John Lee. The Kurdistan Regional Government has denied that an incident involving HKN Energy in the Kurdish region of Iraq was related to security issues, and said it was instead tied to a labour dispute. In a statement, the KRG also denied media reports that about 120 oil workers were held hostage: "The Kurdistan […]
Over 5m Tons of Food Imported in 2012
By Matthew Gayle. According to the state-run Grain Board of Iraq, over 5.4 million tons of food were imported into Iraq last year to cover the state-run food rationing system that was originally initiated in 1990. The system food rationing system was put into place to help offset the impact of U.N. trade sanctions, and […]
Iraq to Increase Basra Oil Shipments in April
Iraq plans to ship 48 cargoes of Basra Light crude from the Persian Gulf in April, according to a report from Bloomberg -- 13 shipments more than last month. About 68.6 million barrels of the blend is to be exported from the al-Basra Oil Terminal (ABOT) (pictured), equating to 2.29 million barrels a day; this […]
Iraqi Aviation Industry Takes Off
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In light of Iraq’s complicated political and security climate, even the most optimistic could not expect Baghdad International Airport (pictured) to have 125 flights — even including both arrivals and departures […]
Canada Opens Diplomatic Mission in Iraq
Canada's Foreign Affairs Minister, John Baird (pictured), issued the following statement on Monday: “Today’s opening is a historic milestone in Canadian relations with Iraq and comes at a pivotal moment. Ten years after the Iraqi intervention, Iraq is one of the fastest-growing economies in the world, despite deep and lingering sectarian tensions. “With conflict raging […]
Louis Berger Group to Help Establish Erbil Stock Exchange
The Louis Berger Group has announced that it will help the Kurdistan Regional Government (KRG) to start up the Erbil Stock Exchange (ESX) in Iraq’s Kurdistan region, a joint endeavor of the Iraqi government and private sector to build a modern securities market. “The launch of the ESX initiative is yet another testimony of the […]