Depreciation of Iraqi Dinar sparks Protests
By John Lee. Dozens of people have reportedly protested in front of the offices of the Central Bank of Iraq (CBI) in Baghdad following a fall in value of the Iraqi Dinar (IQD) against the US dollar. Over the previous two days, the dollar is said to have risen from 1,470 dinars to 1,570 dinars. […]
Iraq Britain Business Council (IBBC) welcomes New Member
By John Lee. Defaf Al Khaleej Security Services (DAK) has joined the Iraq Britain Business Council (IBBC). Mr Rafid Al Jasim, Chairman of Defaf Al Khaleej Security Services (DAK), expressed his enthusiasm about the partnership, stating: "We are truly delighted to become a part of the esteemed Iraq British Business Council (IBBC). We truly value […]
Iraqi Airlines to Auction Saddam Hussein's 747
By John Lee. Iraqi Airways has announced that it will conduct a public auction for the sale of two Boeing 747 aircraft, which are parked at Tozeur-Nefta Airport in Tunisia. Both Pratt and Whitney-engined planes were made in 1982, and have been parked at the airport since 1991. It is understood that both planes were […]
Iraq Finalises Oil Export Data for June
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for June: Total exports of crude oil: 100,059,052 barrels Revenues from crude oil exports: $7.179760 billion Oil fields in central and southern Iraq accounted for 98,725,620 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. Oil […]
Will Iraq succeed in quest to join WTO?
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will Iraq succeed in quest to join World Trade Organization? Iraq's 19-year-long push to join the World Trade Organization (WTO) is gathering pace. Baghdad initially submitted a request to join the international trade body […]
Iran's Taban Airlines launches Karaj-Najaf Flights
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The public relations department director of Iran's Taban Airlines announced the launch of weekly Najaf flights from Payam International Airport in Karaj on Saturdays. Speaking in an interview with […]
Capacity to Double at Iraqi Fertilizer Plant
By John Lee. AAA Holding Group (AHG) has announced a doubling of capacity at its fertilizer plant at Khor al Zubair, in Basra governorate. The new line, producing di-ammonium phosphate (DAP) fertilizer, will have a capacity of 500,000 tons per year, bringing total production at the plant to one million tons annually. Amet Selman, CEO […]
UK Trade with Iraq Up 57%
By John Lee. The UK's Department for Business and Trade has said that total trade in goods and services (exports plus imports) between the UK and Iraq was £1.2 billion [$1.5 billion] in the four quarters to the end of Q4 2022, an increase of 57.3% or £432 million in current prices from the four […]
Russia's Lukoil discusses Development of West Qurna 2
By John Lee. Mr. Hayan Abdul Ghani, Deputy Prime Minister for Energy and Minister of Oil, welcomed Mr. Ivan Romanovski, Lukoil's Vice President for the Americas, Africa, and the Middle East, along with the accompanying delegation, including Mr. Alexey Yakovlev, General Manager of Lukoil Middle East Limited, and the company's Baghdad office director. During the […]
KRG hands over 50-60K bpd of Oil to Baghdad
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG hands over 50-60K barrels of oil to Baghdad since mid-June, says official The Kurdistan Region of Iraq (KRI) has handed over about 50,000-60,000 barrels of oil per day to Baghdad since mid-June, as […]
New Revenue Sharing could lead to Iraqi Oil Renaissance
By Julianne Geiger for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. New Revenue Sharing Scheme Could Lead To Iraqi Oil Renaissance Iraq has been looking to bring foreign oil company money and expertise into the fold, and it looks like it […]
New Projects to Increase Production at West Qurna 1
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has inaugurated new projects intended to sustain and increase production in the West Qurna 1 oil field, which has current production at 560,000 barrels per day (bpd). The projects include a water treatment unit with a capacity of 235,000 barrels per day, aimed at optimizing water […]