KRG to Increase Electricity Prices
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG raises electricity rate by 20% The Kurdistan Regional Government's (KRG) Ministry of Electricity is increasing the price of national electricity by 20 percent, the spokesperson told Rudaw on Monday. Click here to read […]
Oil Exports Slightly Up for January
By John Lee. Iraq's Ministry of Oil has announced initial oil exports for January of 88,922,697 barrels, giving an average for the month of 2.868 million barrels per day (bpd), up from the 2.846 million bpd exported in December. These exports from the oilfields in central and southern Iraq amounted to approximately 85,870,503 barrels, while […]
Iraqi PM's Job Development Office: Best Chance to Reduce Unemployment
By Dr. Layth Mahdi. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Prime Minister's Job Development Office: Best Chance for Reducing Unemployment and Poverty Iraq economy has suffered for the past 18 years due to continued violence, economic mismanagement, flawed policies and the absence […]
Russian Oil Firm to Finance Nassiriyah Development
By John Lee. The Dhi Qar Oil Company (DQOC) has reportedly said that Litasco, the international marketing and trading company of Russia's LUKOIL, will finance the doubling of capacity at the Nassiriyah oil field from 100,000 barrels per day (bpd) to 200,000 bpd. The project includes a 42-kilometer pipeline, and will be a joint venture […]
ALIPH to help Rescue the Arch of Ctesiphon
ALIPH and the Iraqi Ministry of Culture join forces to rescue the Arch of Ctesiphon, the world's largest brick vault constructed until modern times The International alliance for the protection of heritage in conflict areas (ALIPH) and the Iraqi Ministry of Culture, Tourism and Antiquities have announced urgent stabilization measures to protect the endangered Arch […]
Anbar Reconstruction spawns Debate on Autonomy
By John Lee. Construction projects in Anbar province have created jobs, and provincial capital Ramadi could soon have Iraq's largest shopping mall, according to a report from Al Jazeera. It adds that the push for more investment underpins the province's ambitions for greater autonomy. Click here to read the full article. (Source: al Jazeera)
UK National Charged with Bribery in Iraq Reconstruction
United Kingdom National Charged with Bribery and Kickback Scheme Involving Iraqi Reconstruction Contracts A United Kingdom national is charged with wire fraud and conspiracy to commit bribery for his role in a scheme involving the award of millions of dollars of U.S. Army Corps of Engineers (USACE) reconstruction contracts in Iraq, Acting U.S. Attorney Rachael […]
Iraq's Reform Budget heads to Parliament
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's reform budget heads to parliament Parliament is debating the 2021 budget, which is the first budget drafted based on the White Paper for economic reform. Click here to […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th January 2021). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD687 (-1.0%) / $608 (-1.0%) (weekly change) (-5.3% and -8.3% YTD change, respectively). The number of week traded […]
Iraq and Total sign MoU for "Large Projects"
By John Lee. Iraq's Ministry of Oil has signed a Memorandum of Understanding with French oil company Total. According to a statement from the Ministry, both sides have "achieved advanced cooperation steps towards implementing large projects in the oil and energy sector." The document was signed in Baghdad by Oil Minister Ihsan Abdul-Jabbar Ismail and […]
Iraqi Cabinet approves $100m for COVID Vaccine
By John Lee. Iraq's Cabinet has approved an allocation of $100 million to buy Coronavirus vaccines. The funding was provided with the assistance of the World Bank. (Source: Iraqi Cabinet, Office of the Prime Minister)
French Petroleum Consultancy meets Iraqi Oil Minister
By John Lee. French petroleum consultancy Beicip-Franlab met with Iraqi Oil Minister Ihsan Abdul-Jabbar Ismail in Baghdad on Wednesday to discuss strategic plans to develop oil and gas fields in the country. Among those in attendance were the company's Chairman and CEO, Jean Burrus, and the French Ambassador to Iraq, Bruno Aubert. (Source: Iraqi Ministry […]