Iraq Increases Oil Sales and Discount to Jordan
By John Lee. Iraq is to increase export oil exports to Jordan from 10,000 barrels per day to 15,000 bpd at a discounted price, Jordanian Energy Minister Alaa Batayneh said. Following repeated requests by the kingdom, the two countries have agreed that Iraq will sell the additional 5,000 barrels a day at a discount of […]
Kobler Calls for Commitment to Peaceful Conflict Resolution
By John Lee. On the occasion of the International Day of Non-Violence, the Special Representative of the Secretary-General (SRSG) for Iraq, Mr. Martin Kobler (pictured), called on all Iraqis to commit to resolving differences solely through non-violent means. “I am deeply concerned by the increasing violence Iraq has witnessed recently,” Mr. Kobler said. “Official figures […]
Iraq Agro-Food 2012 Exhibition, 26-29 Nov, Erbil
Advertising Feature The 5th International Exhibition for Agriculture, Food, Food Processing and Packaging, Iraq Agro-Food 2012, is the ideal platform for the suppliers of Iraq’s main agricultural and nutritional needs. Organized by International Fairs & Promotions (IFP) Iraq, under the auspices of the Iraqi Ministry of Agriculture and the Ministry of Agriculture and Water Resources […]
Welcome to Iraq Energy Forum
Advertising Feature Iraq is looking forward to welcoming you at the Iraq Energy Forum (IEF) which will be held in Baghdad, at AL Rasheed Hotel on 12/12/2012. This is an initiative founded and hosted by Iraq Energy Institute (IEI), the official advisor to the Federal Parliament of Iraq on energy policies. Iraq Energy Forum is […]
Nigerian Billionaire Sets Sights On Iraq
By John Lee. Forbes reports that Nigeria’s richest man, Aliko Dangote, plans to expand his Dangote Cement Company into Iraq, among other countries. Dangote, whose worth is estimated at about $12.5 billion recently told the Financial Times that construction on a plant in Iraq could begin as early as next year. Dangote Cement, which is […]
Clinton Address to G-8 on Arab Countries in Transition
The following is the full text of the speech given by US Secretary of State Hillary Clinton to the G-8 on the subject of Arab Countries in Transition: Good morning. Let me start by thanking everyone for the contributions that you have already made to this partnership, and for your support of democracy in the […]
Iran to Export Gas to Iraq by mid-2013
By John Lee. Iran will provide Iraq with natural gas by the summer of 2013, according to Iranian news agency Fars. Javad Oji, the head of the National Iranian Gas Company, said Iran has completed more than 25 percent of a 48-inch pipeline that could carry up to 25 million cubic meters per day of […]
TBI Buys 2 Passenger Jets from Germany
By John Lee. The Trade Bank of Iraq (TBI) has announced that it is purchasing two Airbus passenger planes from Germany at the cost of $86 million. The Bank's Chairman, Mrs. Hamdiya al-Jaff, told NINA that the planes, each capable of carrying 200 passengers, were made in 2009 and have not been put into service since […]
Sept Oil Exports Highest for Decades
By John Lee. Iraq's Ministry of Oil has announced that oil exports for September rose to 2.6 million barrels per day, at an average price of $107 per barrel, bringing in revenues of 8.4 billion dollars over the 30-days month. Platts used a more precise figure of 2.598 million bpd. This compares to 2.564 million […]
Zain Iraq Aims for IPO by Early 2013
By John Lee. Zain Iraq plans to finally go ahead with its stock market listing by early 2013 at the latest, according to a report from Reuters. Hisham Akbar (pictured), Zain's deputy chief executive and chief operating officer, told reporters on Tuesday that the company still needs to convert to a joint stock company in […]
Iraqi Infrastructure at Another Impasse
By Mustafa Habib. 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. Despite billions in oil income, Iraq says it cannot afford to build the infrastructure citizens badly need. A draft law allows Iraq to borrow money to […]
BIC Licenses Cement Factory in Umm Qasr
By John Lee. The Basra Investment Commission has licensed a cement factory in Umm Qasr, according to a report from Aswat al-Iraq. The $26-million project will have a production capacity of 3,000 tons of cement per day. (Source: Aswat al-Iraq)