KRG PM Welcomes New British Consul General
By John Lee. On 6 February 2024, the Kurdistan Regional Government's Prime Minister, Masrour Barzani, welcomed James Goldman, the newly appointed British Consul General to the Kurdistan Region. Prime Minister Barzani extended his congratulations to Consul General Goldman on his new role and emphasised the KRG's commitment to advancing bilateral ties between the two regions. […]
DNO Kurdistan Production Rebounds, but Prices are Lower
By John Lee. DNO has reported an average net production of 52,600 barrels of oil equivalent per day (boepd). Production in Iraqi Kurdistan contributed 34,900 boepd. Gross production from the DNO-operated Tawke license has rebounded to an average of 80,000 boepd by the end of the year, following the pipeline shutdown in March 2023. The […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th February 2024). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,668.0 -2.1% 7.3% RSISX USD Index 1,640.1 […]
Abu Baqr al-Saeedi: Kataib Hezbollah Terrorist, Serving PMF Official
By Michael Knights and Hamdi Malik, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Abu Baqr al-Saeedi: Kataib Hezbollah Terrorist, Serving PMF Official The Kataib Hezbollah leader killed on February 7 in Baghdad was (until now) […]
What Next for Iraq and US after Drone Strike?
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. What's next for Iraq and the US after drone strike killed militia leader? The Iraqi government strongly condemned the US strike that killed Abu Baqir al-Saadi, as did Iran-backed […]
Italian Firm to build Steel Plant near Baghdad
By John Lee. Iraqi company Muhaj Baghdad has awarded Italy's Danieli the contract to build a new rolling mill plant for rebar production. The plant will be located in the industrial area of Al-Hilla near Baghdad and will have a capacity of 500,000 tons per year. According to a statement from Danieli, the plant will […]
UK-based company Wins Multi-Million-Dollar Iraq Order
By John Lee. UK-based Acoustic Data has reportedly won a multi-million-dollar order from a major oilfield service company in Iraq. According to Oil Review Middle East, the company will deploy its SonicGauge wireless monitoring systems "across a substantial number of assets." It quotes Chief Commercial Officer, Jesse Tolley, as saying that it will provide "real-time […]
Russia's Gazprom to Develop Nassiriyah Oilfield
By John Lee. The Iraqi Cabinet has agreed to invite Russia's Gazprom to develop the Nassiriyah oilfield as a single contract. While described in a statement from the Prime Minister's office as an "integrated development project", to be offered as a "single bid", it is not immediately clear if this is the originally proposed Nassiriya […]
BP Books Gain on disposal of Rumaila
By John Lee. Oil giant BP has disclosed that it booked a gain of $361 million in relation to the disposal of the group's interest in Iraq's Rumaila field. Its interest in Rumaila was transferred to Basra Energy Company (BECL) in 2021, which BP describes in its results announcement on Tuesday as "an associate of […]
Iraq urges US to Reconsider Sanctions on Iraqi Banks
By John Lee. Iraqi Foreign Minister Fuad Hussein has called on the US Treasury Department to reconsider its recent imposition of sanctions on Iraqi banks. During a phone call from the US Secretary of State, Antony Blinken, Minister Hussein explained that these banks have, "an important and major role in financing ration card expenses and […]
Iraq Improves Ranking in Corruption Perceptions Index
By John Lee. Transparency International has said that Iraq has improved its ranking, and maintained its score, in the global Corruption Perceptions Index (CPI) for 2023. From a total of 180 countries, Iraq came in at number 154, up 3 places on the previous year. This result puts it on equal ranking with Honduras, Azerbaijan […]
Markets Look Through Escalating Tensions
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Markets Look Through Escalating Tensions The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was up 8.8% for the month. Over […]