New Air Route Serving Baghdad
By John Lee. Oman's SalamAir will soon start a service to Baghdad International Airport. Starting August 31st, it will operate three weekly flights from Muscat to Baghdad, every Monday, Wednesday, and Friday. The company started operations in 2017, and operates a fleet of Airbus jets. (Source: SalamAir)
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th August 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 1,219.8 2.9% 34.0% RSISX USD Index 1,199.4 […]
DNO Re-Starts Oil Production at Tawke
DNO ASA, the Norwegian oil and gas operator, today reported that production from its flagship Tawke field in Kurdistan has been restarted following a four-month shut-in triggered by the closure of the Iraq-Turkey Pipeline export route. Production was restarted last month to conduct well integrity tests and synchronize reservoir models but has continued in response […]
Rehabilitation of 150,000-bpd Iraqi Refinery Underway
By John Lee. The Minister of Oil has announced that the ongoing efforts to rehabilitate the Northern Refinery in the "Samoud Complex" in Baiji, with a capacity of 150,000 barrels per day (bpd), will be completed by the end of 2024. He highlighted the government's attention and the direct involvement of the Prime Minister in […]
Key Stats on Progress on Khor Abdullah Canal
By John Lee. The Director of the General Company for Iraqi Ports, Eng. Farhan Al-Fartousi, has announced some key statistics for the new navigational canal project at Khor Abdullah and the Grand Faw basin: Up until the 10th of August, a total of 8,764,460 cubic meters of mud have been dredged. The ongoing projects include […]
Platforms to Empower Youth to Combat Climate Change in Iraq
From UNICEF: UNICEF in Iraq and Ministry of Youth and Sports Launch Platforms to Empower Youth to Combat Climate Change On International Youth Day, UNICEF and the Ministry of Youth and Sports launch a series of new innovative platforms designed to empower Iraqi youth and address the pressing challenges posed by climate change. These pioneering […]
The Iraqi Dinar, and the Conundrum over the Dollar and Iran
By Ahmed Tabaqchali, Chief Strategist of Asia Frontier Capital (AFC) Iraq Fund, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Dinar, and the Conundrum over the Dollar and Iran A report in a […]
Saudi Export Mission to Erbil Strengthens Trade Ties with Iraq
By John Lee. The Saudi Export Development Authority (SEDA), under the banner of "Made in Saudi Arabia, Exported to the World," has conducted a trade mission to Erbil, Iraq. The mission, held on August 15, 2023, featured the participation of 34 Saudi companies and 140 Iraqi companies across diverse sectors including construction materials, food products, […]
Progress on Masdar Solar Projects in Iraq
By John Lee. The Minister of Electricity presided over a significant meeting with a delegation from the UAE-based company Masdar. The company is planning solar power projects in Maysan, Thi Qar, Anbar, and Kirkuk. The minister highlighted the government's commitment to diversify energy sources and reduce reliance on gas and fossil fuels. He emphasized the […]
Jordanian Firm Expands in Iraq
By John Lee. OFFTEC Iraq, a subsidiary of Jordanian-based OFFTEC Holding Group PLC (OHG), has recently established a special division for lighting solutions at its Baghdad and Erbil branches, in cooperation with WATCO, an OHG subsidiary specialized in lighting solutions. According to a statement from the company, this move aligns with OHG's new business strategy […]
Court "Seizes Assets" of Former Iraqi Oil Minister
By John Lee. The Karkh Investigation Court, which is specialized in integrity issues, has reportedly issued an order to seize the movable and immovable assets of former Oil Minister Ihsan Abdul-Jabbar. According to the state-run Iraqi News Agency (INA), citing a court source, the case relates to the alleged exploitation of his position and the […]
Call for Production Sharing Contracts in Iraqi Kurdistan to be honoured
By John Lee. An industry group representing international oil companies (IOCs) in Iraqi Kurdistan has urged the Iraqi Federal Government in Baghdad and the Kurdistan Regional Government (KRG) to honour their production sharing contracts (PSCs). The Association of the Petroleum Industry of Kurdistan (APIKUR) added that it wants those rights to be incorporated into Iraq's […]