Iraq Invests to Boost Nasiriyah Oil Field
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has ordered the state-run Dhi Qar Oil Company (DQOC) and Iraq Drilling Company (IDC) to develop the Nasiriyah oil field in Dhi Qar province. He said the Ministry has budgeted $140 million to raise production from the current 90,000 barrels per day (bpd) to 200,000 […]
AstraZeneca Investigated for Alleged Corruption in Iraq
By John Lee. UK-bassed pharmaceutical company AstraZeneca has said it is the subject of an anti-corruption investigation in the US relating to its activities in Iraq In its latest quarterly filing with the Securities and Exchange Commission (SEC), the company said: "As previously disclosed, in the US, in October 2017, AstraZeneca and certain other pharmaceutical and/or medical device […]
Iraq Plans to take over Mansuriyah Gas Field
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) as ordered Iraq's state-owned oil companies to devise an urgent plan to develop the Mansuriyah (Mansouriya) gas field, following what he described as the delay and the failure of foreign companies to start developing the field. The field, in Diyala province, was awarded in […]
$1.6bn Investment in a New Tourist City
By John Lee. Asiacell boss Faruk Mustafa Rasool (pictured) has announced a $1.6-billion investment in a new tourist city on Kurdistan's Lake Dukan. According to the report from Rudaw, the 3,250-hectare complex will include accomodation, two cable cars, an island, "and many other interesting places”. The Kurdistan Regional Government (KRG) approved the project, which is […]
Electricity Ministry Denies Saudi Solar Power Deal
By John Lee. The spokesman for the Ministry of Electricity, Dr. Musab Sari al-Mudaris [Mussab Serri al-Mudaris] (pictured) has denied reports that he had told Bloomberg about an agreement to buy electricity from Saudi Arabia. He said the statement from the news agency is incorrect. Bloomberg had cited Mudaris as saying that Saudi Arabia agreed […]
UNAMI publishes Latest Yearbook
By John Lee. The United Nations Assistance Mission for Iraq (UNAMI) has today issued its Yearbook for 2017, outlining what UNAMI and the United Nations Country Team did for Iraq over the past year. It can be downloaded here. (Source: UNAMI)
Video: Iraq builds fence along Syria Border
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Iraqi government has started to seal off the frontier between itself and Syria to try to stop cross-border attacks by ISIL fighters. Only 20 kilometres of the 600 km fence have been […]
Video: Coalition talks "still under way"
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Negotiations are still under way to form a governing coalition in Iraq. No party won a majority during May's national election, and the result is not yet confirmed, because a manual recount was […]
Minister for Electricity Suspended
By John Lee. Prime Minister Haider al-Abadi suspended Electricity Minister Qassim al-Fahdawi (pictured) on Sunday for what he described as the "poor performance of the sector". Protests against unemployment and poor public services turned violent earlier this month, with several protesters killed. Many areas of Iraq are struggling to cope with insufficient electricity supply during […]
DNO Passes Peshkabir Production Target
DNO ASA, the Norwegian oil and gas operator, today announced that a fourth well has been put on production at the Peshkabir field in the Kurdistan region of Iraq pushing total output past the previously published target of 30,000 barrels of oil per day (bopd). The Peshkabir-5 well is currently producing around 8,000 bopd from […]
Coalition Strikes Continue Against ISIS Targets
Combined Joint Task Force Operation Inherent Resolve and its partners continue to pursue the lasting defeat of the Islamic State of Iraq and Syria in designated parts of Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported today. Operation Roundup, which began May 1 to accelerate the defeat of ISIS in the […]
Anbar Builds Border Fence to Keep Extremists Out
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. By Kamal al-Ayash. Despite Doubts About Efficacy, Anbar Builds Border Fence To Keep Extremists Out Iraq is attempting to secure its porous border with Syria. A trial security fence is […]