Qatar to Invest in Iraqi Oil
By John Lee. Qatar Petroleum (QP) has confirmed that it plans to invest in Iraq’s upstream oil businesses. President and CEO Saad Sherida Al Kaabi (pictured) told reporters: “I have met personally with the Iraq’s Oil Minister (Jabar Al Luaibi) and have conveyed my interest in investing Iraq’s upstream business, and he welcomed that. “Iraq […]
Jacobs signs MOU with Iraq Oil Company
US-based Jacobs has signed a Memorandum of Understanding (MOU) with the Iraq Oil Company to explore mutual benefits of cooperation in the region of Basra, Iraq. The vast majority of Iraqi oil production takes place in Basra. Iraq Oil Company is looking for business partners based in the Kingdom of Saudi Arabia to support economic […]
Oil Exports Rise Again in December
By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for December of 109,573,817 barrels, giving an average for the month of 3.535 million barrels per day (bpd), an increase from the 3.502 bpd exported in November. The exports were entirely from the southern terminals, with no exports from Kirkuk via Ceyhan. Revenues for the […]
Iraq Stock Market ends Year Down 15%
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report: Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended last week at IQD811 (+0.2%) / $836 (+0.2%) (weekly change) (-15.5% and -11.8% YTD change, respectively). The number of week traded shares was 17.0bn and the […]
Coalition Trains, Equips Iraqi Border Guard Force
The first group of Iraqi Border Guard Force members graduated today from a 12-day program conducted by members of the Combined Joint Task Force Operation Inherent Resolve in Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported today. The coalition works by, with and through its Iraqi partners to ensure the lasting defeat of […]
69 Iraqi Civilians Killed in December
A total of 69 Iraqi civilians (not including police) were killed and another 142 injured in acts of terrorism, violence and armed conflict in Iraq in December 2017*, according to casualty figures recorded by the United Nations Assistance Mission for Iraq (UNAMI). (This compares with 63 civilians killed and 140 injured in November.) Baghdad was […]
Iran-Kurdistan Border Crossings Reopen
Iran’s two border crossings with Iraqi Kurdistan region have resumed their operations following an announcement by the Supreme National Security Council (SNSC), the director general of the Interior Ministry’s border affairs department said. Shahriar Heidari said that according to the interior minister, the Parviz Khan border crossing in Iran's Kermanshah province and the Haj Omran […]
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 […]
China's Zhenhua Oil to develop East Baghdad Oilfield
China’s state-run Zhenhua Oil has agreed to develop the southern part of the East Baghdad oilfield. Under the agreement, Zhenhua will increase production at the field by 40,000 barrels per day above current production, and provide gas for power stations in the Baghdad area. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] said that this contract […]
Iran exports Steel Rebar to Iraq
Iran's South Rouhina Steel Complex has reportedly sent 500 tons of rebar to Iraq. The Iranian trade attaché to Iraq, Naser Behzad, is quoted by IRNA as saying that the consignment was worth $250,000. 'Exports to Iran have paved the way for sending standard goods,' he said. South Rouhina Steel Complex has the capacity to […]
Int'l Companies Invited to Invest in New Pipeline
Iraq's Ministry of Oil has invited local and international companies to participate in the execution of the oil export pipeline extension, which extends from the Kirkuk oilfield to the Iraqi-Turkish border, and will run side-by-side with the old strategic pipeline to the Turkish port of Ceyhan (pictured). Mr. Assim Jihad, the spokesman of the Ministry […]
Iraq once again Controls own Economy, Free of UN Sanctions
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. The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago. The Iraqi Foreign Ministry said Dec. […]