Iraq Oil Exports for June Exceed $6bn
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for June of 86,765,589 barrels, giving an average for the month of 2.892 million barrels per day (bpd), slightly down from the 2.899 million bpd exported in May. The exports from the oilfields in central and southern Iraq amounted to approximately 83,690,352 barrels, […]
PM asks EU to Remove Iraq from Money Laundering List
By John Lee. At a meeting in Brussels on Wednesday, Iraqi Prime Minister Mustafa Al-Kadhimi asked the President of the European Commission, Ursula von der Leyen, to remove Iraq from its list of countries considered to have a high risk of money laundering. Earlier this year, the United Kingdom removed Iraq from its list of […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st July 2021). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD940 (-0.1%) / $824 (-0.1%) (weekly change) (+29.5% and +24.3% YTD change, respectively). The number of week traded […]
Iraqi Electricity Minister Resigns over Power Cuts
By John Lee. Iraq's Minister of Electricity, Majed Mahdi Hantoosh [Hantoush], has reportedly submitted his resignation, following protests over repeated power cuts. Anadolu Agency says the resignation was accepted by Prime Minister Mustafa Al-Kadhimi. Muqtada Al-Sadr, leader of the Sadrist movement, had recently called for the Minister to be sacked. (Source: Middle East Monitor)
Kurdistan 2020 Oil Business "Crashed due to COVID-19"
The Kurdistan Regional Government (KRG) has released its annual oil and gas audit report for 2020, which revealed several drops in production due to the COVID-19 pandemic. The region's total exported and consumed oil for the year stood at 165,942,861 barrels, about 5 million barrels less comparing to 2019. The average price of oil dropped […]
Northrop Grumman Wins $19m Iraq Contract
By John Lee. Northrop Grumman Systems Corp., Fort Worth, Texas, has been awarded a $19,296,927 firm-fixed-price, cost-plus-fixed-fee, cost reimbursement contract for contractor logistics support of Iraq's C-172 & C-208 (Cessna) fleets. The award provides for the exercise of options to extend the term of the contract for the continued services that may be needed in […]
Iran Stops Energy Exports to Iraq
By John Lee. Iran has reportedly suspended the supply of gas and electricity to Iraq, at a time when the country is struggling to cope with with soaring temperatures. According to AP, Iraq already owes Iran $4 billion for energy imports, and Iran is pushing to have the debt paid. More here. (Source: AP)
Iraq Borrows $360m to Reduce Gas Flaring
The International Finance Corporation (IFC), a member of the World Bank Group, is investing in Basrah Gas Company (BGC) to support one of the largest gas flaring reduction projects in the world, helping to improve energy access, prevent associated greenhouse gas (GHG) emissions and support a more resilient, sustainable energy sector in Iraq. BGC is […]
Deloitte Report on Kurdistan Region Oil and Gas
Deloitte report on Oil and Gas review in the Iraqi Kurdistan Region - Q1 to Q4 of 2020 The KRG has published a report containing verified statistics covering the Kurdistan Region's oil exports, consumption and revenues for period 1 January 2020 to 31 December 2020, along with the consolidated report for the year 2020. The report, […]
Iraq hosts Historic Summit with Jordan, Egypt
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq hosts historic summit with Jordanian, Egyptian Leaders The visit by Egyptian President Abdel Fattah Al-Sisi to Baghdad is the first by an Egyptian head of state since 1990. Click here […]
Iraqi Photojournalist sentenced to 7 Years Prison in "Secret Trial"
In response to the sentencing of Iraqi Kurdish photojournalist Qaraman Shukri to seven years in prison in a secret trial, the Committee to Protect Journalists (CPJ) issued the following statement: "Kurdish authorities in northern Iraq are making an appalling habit of sentencing journalists to prison without any regard for due process and for the rights […]
Iraq, Jordan and Egypt agree Energy Projects
By John Lee. Egypt's President Abdel Fattah al-Sisi and Jordan's King Abdullah arrived in Baghdad on Sunday for a fresh round of talks aimed at strengthening cooperation between the countries. It is the first visit by an Egyptian head of state to Iraq since Iraq's invasion of Kuwait in 1990. The leaders agreed on the […]