Algerian Energy Minister to visit Baghdad
By John Lee. Algeria's Energy Minister is to visit Baghdad on Wednesday and Thursday. According to the report from Reuters, Nouredine Bouterfa (pictured) will discuss OPEC-related issues with the Iraqi Minister of Oil. (Source: Reuters)
UNHCR opens New Camp for West Mosul Displaced
UNHCR, the UN refugee agency, has opened a new camp, Hasansham U2, to house thousands of newly-displaced Iraqis who continue to flee the military offensive in western Mosul. The first busloads with packed with around 150 people began arriving at the camp on Tuesday. The camp is the latest to be built by UNHCR and […]
Currency Auction Results, 10th May
By John Lee. The Central Bank of Iraq (CBI) has reported that 38 banks and 11 remittance companies took part in its currency auction on Wednesday. A total of $ 159,612,263 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
EnerMech Launches JV with Khudairi Group
UK-based EnerMech has launched a joint venture with the Khudairi Group in Iraq to target both the re-emerging oil and gas and large infrastructure sectors. The JV, with one of the country’s longest established family-owned groups, is expected to generate $20 million-plus turnover within a short period. The downstream energy and infrastructure rejuvenation along with […]
EGFI agrees Political Risk Insurance for Rumaila Power Plant
The Export Guarantee Fund of Iran (EGFI) has announced that it is to provide political risk insurance (PRI) to Iran's MAPNA Group for its Rumaila power plant project in Iraq. Rumaila, a natural gas combined cycle power plant with 12 gas and 6 steam turbines, is to be implemented at a cost of $2.5 billion […]
New Zealand names New Ambassador to Iraq
New Zealand's Foreign Affairs Minister Gerry Brownlee has today named Bradley Sawden as New Zealand’s next Ambassador to Iraq. New Zealand established an Embassy in Baghdad in 2015 to support New Zealand and Australia’s joint ‘Building Partner Capacity’ mission. “This mission has trained over 20,000 Iraqi police and army personnel who are on the frontlines […]
KRG to Reform Armed Forces
Kurdistan Regional Government to reform its armed forces with the support of International Coalition As part of the Kurdistan Regional Government’s continuing reforms, the Ministry of Peshmerga Affairs will implement significant reform measures with assistance from a joint team of military experts from the United States, the United Kingdom, and Germany. Prime Minister Barzani, Deputy […]
Military Strikes Continue Against ISIS Terrorists
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria yesterday, conducting 27 strikes consisting of 84 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported today. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, coalition […]
Currency Auction Results, 9th May
By John Lee. The Central Bank of Iraq (CBI) has reported that 40 banks and 11 remittance companies took part in its currency auction on Tuesday. A total of $159,615,853 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Oil Exports Fall Slightly in April
By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for April of 97,574,813 barrels, giving an average for the month of 3.252 million barrels per day (bpd), slightly less than the 3.259 bpd exported in March. Exports from the southern terminals totalled 96,900,433 barrels, with 674,380 barrels exported from Kirkuk. Revenues for the month were $4,612,815,000, […]
Is Mosul Dam now Stable?
Iraqi officials report that Mosul Dam now stable; experts continue to question its stability After six months of intensified repairs, Iraqi officials claim the massive Mosul Dam has been saved from impending disaster. But experts say it will always be at risk of collapse and will need constant maintenance. In a statement on May 5, […]
5 Reasons why Kurdistan will Power Iraqi Tech Growth
By Hal Miran, Editor-in-Chief, Bite.Tech. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Kurdistan, or the Kurdistan Region, is the autonomous region in the north of Iraq. Its economy is mainly powered by oil, and to a lesser extent other industries. Its capital city is […]