Iraq, Algeria Discuss Oil Production Cuts
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi] has met with the Algerian minister of energy Mr. Nooraldeen Botarfa in Baghdad at Wednesday to discuss increasing cooperation between the two countries in the oil sector. In addition to exchanging ideas about the development of the oil sector, they also discussed the "necessary coordination between […]
Progress in Defeating ISIS in Syria, Iraq
Partnered forces in Syria and Iraq are making progress in defeating the Islamic State of Iraq and Syria, the spokesman for Combined Joint Task Force Operation Inherent Resolve said today. The Syrian Democratic Forces and the Syrian Arab Coalition have liberated most of the Syrian city of Tabqa, Air Force Col. John Dorrian told Pentagon […]
Military Strikes Hit ISIS Terrorists in Syria, Iraq
U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Tuesday, conducting 21 strikes consisting of 75 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports. Strikes in Syria In Syria, […]
Currency Auction Results, 11th May
By John Lee. The Central Bank of Iraq (CBI) has reported that 36 banks and 11 remittance companies took part in its currency auction on Thursday. A total of $ 158,948,706 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
DNO Reports Payment for Tawke Deliveries
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 41.40 million from the Kurdistan Regional Government as payment towards February 2017 crude oil deliveries to the export market from the Tawke field. The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include USD 34.73 million toward monthly […]
German Firm meets with Iraqi Oil Minister
Oil Minister Jabar Ali al-Luaibi [Allibi] has met with a delegation from the German company Ruhrpumpen, headed by Mr. Khavier Garza. The meeting was attended also by the counselor of the minister and the director general of the oil projects company. Mr. Al-Luiebi discussed with the delegation about developing the bilateral cooperation to execute the […]
Video: Iraq Forces Advance in West Mosul
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi forces announce they have retaken yet another neighbourhood of western Mosul, tightening the noose around jihadists holed up in the Old City.
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 […]