By Omar Sattar for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. BAGHDAD — US Ambassador to Iraq Stuart Jones announced July 21 that the Iraqi government has started withdrawing the $2.7 billion loan secured on June 29. However, the Iraqi parliament had not been briefed on the deal, making […]
By John Lee. Reuters reports that Baghdad has reached agreement with BP, Shell and Lukoil to restart stalled investment in Iraqi oil fields, allowing production to increase by 250,000-350,000 bpd in 2017. According to documents seen by Reuters, the three firms agreed to spend in the second half of 2016 roughly half the budgets they proposed […]
By John Lee. Platts reports that Iraq will export 3.257 million bpd of Basra crude oil in September, up 13 percent from August. According to a provisional loading schedule seen by Platts, this will consist of 2.324 million bpd of Basra Light and 933,333 bpd of Basra Heavy grade. This compares to 2.078 million bpd […]
By John Lee. WesternZagros Resources has announced its operating and financial results for the second quarter ended June 30, 2016. Commenting on the second quarter results and subsequent events, WesternZagros's Chief Executive Officer Simon Hatfield said: "A significant key milestone was reached with the approval of the Garmian Field Development Plan confirming the commercial potential […]
The United Nations Development Programme (UNDP) and the Government of Iraq signed an agreement today in Baghdad to help strengthen the capacity of the Government to detect, investigate and prosecute high-profile and complex corruption cases. The Prime Minister’s Deputy Chief of Staff, Mr. Naoufel Al-Hasan, said: “Ending impunity is at the center of our reform […]
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq yesterday, 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 Bomber, fighter, attack, ground-attack, and […]
State Commission for Customs, in coordination with the National Investment Commission (NIC), has announced an investment opportunity to establish a customs check point in Al Safra Zone / Al Uthaim in Diyala Province, and provide all necessary requirements and services (logistic and security). Interested investors are entitled to present their wish to the customs commission […]
By John Lee. Bukkehave Inc. of Fort Lauderdale, Florida, has been awarded a $13,489,972 contract to supply 300 Toyota Land Cruiser pickup trucks and common spare parts for Iraq. Work will be performed in Oman, with an estimated completion date of Dec. 30, 2016. The company is headquartered in Denmark. (Source: US Dept of Defense) […]
By John Lee. Insitu Inc., of Bingen, Washington, has been awarded a $8,291,844 firm-fixed-price delivery order to procure spares, support equipment, and support services for the ScanEagle Unmanned Aircraft System operations for the government of Iraq intelligence, surveillance, and reconnaissance services program. Work will be performed in Baghdad, Iraq (90 percent); and Bingen, Washington (10 […]
By John Lee. The Turkish company Karadeniz Holding has reportedly stopped supplying electricity from its three generating ships loctated in the ports of Khor al-Zubair, Umm Qasr and Abu Flous. Local media report that the move is due to the non-payment of debts to the company by the Iraqi Ministry of Electricity. The company had […]
By Adnan Abu Zeed for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq’s parliament passed a de-Baathification law July 30, banning any political activity by the Baath Party under any name. However, the move did not end the controversy over the party’s social impact on […]
By John Lee. The Speaker of the Iraqi parliament, Salim Al-Jabbouri [Saleem al-Jabouri] has reportedly been cleared of corruption allegations on Tuesday due to insufficient evidence. Last week, Defense Minister Khaled al-Obeidi claimed that al-Jabouri and at least five lawmakers and business people had tried to persuade him to secure specific contracts and to reinstate […]
