Al-Sumoud Refinery unaffected by Fire
By John Lee. Iraq's Oil Ministry has confirmed that the Al-Sumoud refinery in Baiji is operating at capacity, following a fire in the area. The director general of the North Refineries Company (NRC), Qassem Abdul Rahman, said the fire was near the refinery but not in it. He pointed out that: "The fire that broke […]
Atrush Block drives Production Gains at TAQA
By John Lee. Abu Dhabi National Energy Company PJSC (TAQA) has announced that the group’s oil and gas business delivered strong performance with an 11% increase in revenue, mainly driven by increased production volumes from its assets in Europe and Iraq. In its financial results and operational highlights for the six-month period ending June 30, […]
Iraq "closes Mandali Border Crossing with Iran"
By John Lee. The Mandali border crossing between Iraq with Iran has reported been closed following an order from Iraqi Prime Minister Adil Abdul Mahdi’s office. Reports say the move was in response to allegations of corruption and mismanagement. (Source: hathalyoum)
Local Dried Fruits Difficult to Sell in Kurdistan
Fruit prices plummeted considerably during the summer harvest season in the Kurdistan Region, so much so that the price of harvesting the fruits and transporting them to wholesale markets sometimes outweighs their sale price. In the past, farmers used to dry these fruits and sell them that way to make a profit. But nowadays, 95 […]
Positive Sentiment toward Israel on the Rise in Iraq?
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Is positive sentiment toward Israel on the rise in Iraq? Israeli Foreign Minister Yisrael Katz (pictured) expressed his gratitude to Iraqis on Facebook July 24, stating he was thankful for […]
New Investment Opportunities in Iraq
By John Lee. The National Investment Commission (NIC) has announced the following investment opportunities: Rehabilitation of 8 factories – State Company for Glass and Refractories Industry (SCGR) (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)
Iraq achieves Self-Sufficiency in Strategic Crops
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraqi Minister of Trade Mohammed Hashim al-Ani announced July 5 that the ministry received about 4 million tons of local wheat, a step that signals the country is ready to achieve […]
Market Review: “IMF Revises Growth Estimates Higher”
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The market’s action in July was so quiet that it turned activities like watching paint dry into spectator sports, as the start of the peak […]
GardaWorld Weekly Security Report
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]
IOM Partners with Asiacell to Support Economic Recovery in Iraq
The ISIL conflict displaced 6 million people in Iraq, disrupted the national economy and limited employment opportunities for citizens. Sixty per cent of jobs in Iraq are in the private sector, within Small and Medium Enterprises (SMEs); very large numbers of those businesses experienced loss as a result of the conflict and need support to […]
Protection Cluster Service Mapping Tool in Iraq
The Protection Cluster in Iraq launched a new service mapping tool “Services Advisor Platform”, which is ready to use. The tool displays 252 service locations across Iraq for over 50 NGOs and UN agencies providing General Protection, GBV, Child Protection, HLP and Mine Action services. The main page of this tool can be accessed through […]
Iraq turns to BP, Eni for Oil Export Pipeline
By John Lee. Iraq is reported to be close to reaching a deal with BP and Eni for an export pipeline project. Al Jazeera quotes senior Iraqi oil officials as saying that the project was initially planned as part of a "megadeal" with ExxonMobil. They said that under the proposed $400-million agreement, BP and Eni […]