Bad Weather Halts Iraq's Southern Oil Exports
By John Lee. Reuters reports that bad weather has halted oil exports from Iraq's southern oilfields, with rough seas preventing tankers reaching port. The stoppage may continue through Tuesday, Iraqi oil port sources said on Sunday. "Because of bad weather oil exports have been completely stopped... Tankers cannot reach port because of rough seas and […]
Baghdad PC to Build 4 Housing Complexes in 2013
By John Lee. Baghdad Provincial Council and the National Investment Commission (NIC) plan to build four new housing complexes in Baghdad by 2013. Intended for people on low income, the houses will be built in the districts of Rashid, Dihna, Basmaya and Mahmudiya. Bushra Abdul Amir, Deputy Chairman of the Administrative Committee at Baghdad PC, […]
MPs Fail to Comply with Financial Disclosure Requirements
By John Lee. Iraq's Commission on Integrity reports that Prime Minister Nouri al-Maliki and two of his three deputy prime ministers have presented their financial disclosure statements to the Commission. The commission reports that Rowsh N Shaways and Hussain al-Sharistani are the two deputy PMs who have submitted their documents, implying that Salih al-Mutlaq has […]
Iraq Signs $3bn Deal for F-16 Fighter Jets
By John Lee. Iraq's acting defense minister, Sadoun al-Dulaimi, has said that the government has inked a new $3-billion contract with the US to buy another 18 F-16 fighter, according to MENA. The minister said that the new purchase is part of an agreement to buy a total of 36 fighters from the US. He […]
Largest US Business Delegation Visits Kurdistan
President Masoud Barzani welcomed the largest ever American business delegation this week which was visiting Kurdistan to explore investment opportunities in the Kurdistan Region and to participate in the Erbil International Fair. The US-Kurdistan Business Council (USKBC) brought a 48-member delegation, representing 30 companies in diverse sectors, to meet with various KRG officials in Erbil […]
Return of the Orient Express
By Saleh Elias. 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. The Mosul train station is empty after years of neglect. But local authorities say they want to revive railways here. It’s a sign of better conditions […]
US, Iraq Sign MoU on Disadvantaged Populations
On Wednesday, October 17, 2012, the United States government, through the U.S. Agency for International Development (USAID), signed a Memorandum of Understanding (MOU) with the Iraqi Ministry of Migration and Displacement to provide adequate protection and assistance to displaced persons and help the Ministry provide improved services to internally displaced persons and refugees. The MOU […]
Iraq's Oil Exports Head for Another Record
By John Lee. Reuters reports that Iraq's crude oil exports from its southern ports have risen by 120,000 bpd so far in October compared to last month, suggesting the country is on course to reach its highest export rate in decades. According to shipping data, exports from Basra have averaged 2.30 million bpd in the […]
Implications of the IEA Iraq Energy Outlook
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The following is an extended version of my brief intervention delivered before IEA’ Energy Business Council virtual meeting held in Paris, 19th Oct 2012 on the Agency’s World Energy Outlook Special Report […]
Lack of Federal Oil Law Cripples Iraq's Recovery
By Thomas W Donovan, attorney at the Iraq Law Alliance. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Foreign "experts" like to depict Iraq's oil industry as a cesspit of corruption, turmoil and factional politics. In fact, however, Iraq has made real progress, and […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th October 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,438 / $1,556 (-2.8%) (weekly change). The number of week traded shares was 16.9bn and the weekly trading volume was ID21.8bn ($18.2mn). ISX Company […]
Exxon "Nears Sale of South Iraq Stake"
ExxonMobil is in talks to sell its 60% stake in the massive West Qurna-1 oil field, while gearing up to start a controversial drilling program in Iraqi Kurdistan, the Wall Street Journal reports, citing what it described at "people familiar with the matter". Exxon's 2010 deal with the Iraqi central government to improve production in […]