US-Iraq Relationship in Danger of Collapse
By Sara Allawi and Michael O'Hanlon for USA Today. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The relationship between Iraq and the U.S. is in danger of collapse. That can't happen. Do the United States and Iraq, joined at the hip in tragic […]
CBI allows SMEs to Defer Loan Repayments
By John Lee. The Central Bank of Iraq (CBI) has announced that the repayment of loans obtained under its '1 and 5 trillion dinars' finance initiatives for small and medium size businesses (SMEs) will be suspended for three months. According to a statement from the Government of Iraq, the move is an attempt to ease […]
Al-Zurfi's Appointment as PM "Unconstitutional"
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq's Judicial Council rejects Al-Zurufi's appointment as 'unconstitutional' The Supreme Judicial Council of Iraq has disputed the appointment of lawmaker Adnan Al-Zurufi as Prime Minister-designate to […]
Video: Pilgrimage Continues despite Coronavirus
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq has so far registered 214 coronavirus cases and 17 deaths. To prevent further spread of the virus, the government imposed a weeklong curfew in Baghdad and other cities and cancelled all domestic […]
Is Iraq taking Necessary Measures to Prevent COVID-19?
By Lujain Elbaldawi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Is Iraq taking necessary measures to prevent COVID-19 spread? As coronavirus spreads across the globe, the number of infected people in Iraq is still manageable. Though the country has taken strict measures to reduce infections, […]
Iraq has a New Prime Minister. What next?
By Ranj Alaadin, for Brookings Institution. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq has a new prime minister. What next? Iraq has a new prime minister-designate, almost three weeks after the previous nominee - Mohammed Tawfiq Allawi - failed to secure parliamentary […]
$22m Order for US Trucks in Iraq
By John Lee. The U.S. Army has awarded Navistar Defense foreign military sales contract delivery orders valued at $21.97 million for 134 Medium Tactical Vehicles (MTV). The orders are comprised of 4x4 cargo vehicles, 6x6 general transport trucks (GTT), 6x6 GTT vehicles with material handling equipment (MHE), and 6x6 30-ton wreckers, along with spare parts […]
Genel Energy "Resilient to an Oil Price of $30"
Genel Energy has announces its audited results for the year ended 31 December 2019. Bill Higgs, Chief Executive of Genel, said: "The industry is currently facing headwinds that challenge companies to demonstrate their resilience and flexibility. Genel has a business model and strategy designed to shelter us from such extreme circumstances, with low-cost oil production, […]
Petronas Suspends Operations at Garraf Oil Field
By John Lee. Malaysia's Petronas has said it has shut down production and safely evacuated all of its Malaysian employees from Iraq due to coronavirus (COVID-19). In a statement, the company said: "In view of the COVID-19 pandemic and as a precautionary measure to ensure the health, safety and well-being of our employees, PETRONAS has […]
Iraq Curfew to Slow the spread of Coronavirus
The Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Deputy Prime Minister and Minister of Oil, Thamir Ghadhban. The Cabinet received a detailed briefing from the Minister of Health on the range of new measures being implemented to contain COVID-19. These measures include: Declaring a curfew in Baghdad for a week […]
Genel Energy Update on Oil Reserves
Genel Energy plc has updated its oil reserves and resources across its portfolio. Bill Higgs (pictured), Chief Executive of Genel, said: "Genel's producing assets are profitable even at an oil price of $30/bbl and this, coupled with our robust balance sheet, supports investment in growth and the payment of a material dividend. The reduction of […]
DNO Slashes 2020 Budget
DNO ASA, the Norwegian oil and gas operator, today announced a 30 percent or USD 300 million reduction in its 2020 budget to shore up its balance sheet in the face of unprecedented market convulsions and plunging oil prices triggered by the coronavirus pandemic. Steps have already been taken to suspend most discretionary drilling and […]