Capacity to Increase at West Qurna 1 Isolation Station
By John Lee. State-run Iraqi News Agency (INA) has reported that the management of the West Qurna 1 oil field in northern Basra has announced a plan to increase the capacity of the seventh isolation station to 320,000 barrels per day (bpd) by 2025. The isolation station began production in 1998 at a rate of […]
IDC Drills 3,636-Meter Oil Well at East Baghdad Field
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the drilling of the EBSH-54 oil well at the East Baghdad field. The well was drilled to a depth of 3,636 meters, as part of a contract with EBS Petroleum to drill 27 oil wells at the field in collaboration with China Oilfield Services […]
Pursuit of Housing Security "Inflames Insecurities in Kirkuk"
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's pursuit of housing security inflames insecurities in Kirkuk Since taking office last autumn, Iraqi Prime Minister Muhammad Shia' Al-Sudani has focused on revamping deprived neighborhoods and addressing housing security among his key […]
The Underbelly of Iraq's 'Economic Boom'
By Hayder Al-Shakeri for the Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS). The opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Underbelly of Iraq's 'Economic Boom' Most ordinary enterprises are forced to navigate an economic system […]
No Ban on Dollar Withdrawals in Iraq
By John Lee. The Central Bank of Iraq (CBI) has clarified that, from 1st January 2024, it will still be possible to withdraw dollars from a dollar account at an Iraqi bank. This contradicts recent media reports which suggested that all dollar withdrawals would be blocked from this date. In a statement, the CBI said: […]
Tabaqchali: Private Sector Loan Growth to Fuel Iraq's Economic Recovery
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. Private Sector Loan Growth to Fuel Economic Recovery The market, as measured by the Rabee Securities RSISX USD Index, was up 8.4% in September, and up 79.4% […]
Ambassador confirms Turkey's readiness to Export Iraqi Oil
By John Lee. According to state-run Iraqi News Agency (INA), Iraq's Ambassador to Ankara announced yesterday (Thursday) that Turkey has agreed to resume oil exports via the Iraq Turkey Pipeline (ITP). It quotes Majid Al-Lajmawi as saying, "Turkish side agreed to immediately resume oil exports from the Iraqi-Turkish oil pipeline." This follows a statement to […]
New Air Route between Erbil and Abu Dhabi
By John Lee. Wizz Air Abu Dhabi has reportedly inaugurated its first flight from Abu Dhabi to Erbil today (Friday 6th October). According to WAM, the flights operate on Monday and Friday, with the national airline flying to more than 40 destinations from Abu Dhabi. The company reported on Monday that it has added a […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th October 2023). 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 1,424.9 0.8% 56.5% RSISX USD Index 1,401.1 […]
Russian Business Leader discusses Opportunities in Iraq
By John Lee. Dr. Qahtan Taha Khalf, the Ambassador of the Republic of Iraq in Moscow, met with Alexey Repik, the President of Business Russia, on Tuesday. Business Russia describes itself as "an All-Russia Public Organization which represents the interests of private non-resource businesses - local industry leaders." During the meeting, they discussed ways to […]
Scaling Up Iraq's Energy Transition
By Maha Yassin for the Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS). The opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Scaling Up Iraq's Energy Transition: Is Now the Right Time? Iraq is expected to experience a […]
Capital Increase for Iraq's Agricultural Cooperative Bank
By John Lee. In its 40th regular session, chaired by Prime Minister Mohammed Shia Al-Sudani, the Iraqi Cabinet agreed to increase the capital of the Agricultural Cooperative Bank by nearly 30 percent. The increase, totaling IQD 29,476,500,000 [$22.6 million], will be added to the bank's current capital of IQD 100,600,000,000. In a statement, the Media […]