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 […]
WesternZagros Confirms Oil at Kurdamir-2
By John Lee. WesternZagros has announced that during the post-perforation clean up period of the Eocene testing program, an initial low rate flow of 42 to 45 degrees API oil to surface has been achieved at the Kurdamir-2 exploration well. The Company advises that flow rates and the potential for commerciality cannot be confirmed until […]
Paris Gallery to Enter Iraq Luxury Goods Market
The Dubai-based Paris Gallery plans to open five new stores in Iraq over the next three years, according to a report from Gulf News. Randa Al Akkad, the head of franchise at Paris Gallery, said the first store is scheduled to open in Baghdad in 2013, with another two in Erbil and one in Basra […]
Nechirvan Barzani Address to 2nd World Kurdish Congress
(Note: the speech was read by Minister Ali Saeed, as the Prime Minister was unable to attend). Ladies, gentlemen and distinguished guests, good morning. I wanted very much to be here with you today, but unfortunately I have had to change my plans due to some unforeseeable circumstances. In any event, I would like to […]
What's the Real Reason for Shabibi's Dismissal?
Perhaps the biggest story of recent days was the shock dismissal of the Governor of the Central Bank of Iraq (CBI), Sinan al-Shabibi, and the issuing of arrest warrants for him and many of his staff. The nature of the allegations against Mr Shabibi are not entirely clear, but appear to center around manipulation of […]