By John Lee. PanARMENIAN reports that trade between Armenia and Iraq has grown by 30 percent annually. Armenian Deputy Economy Minister Garegin Melkonyan (pictured) is quoted as saying: “In 2015, trade turnover between the two countries amounted to $132 million, up from just $49 million in 2012. We exported some $80 million and $126 million-worth […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. They fled starvation and jihadist tyranny in Fallujah for the safety of displacement camps but thousands of Iraqi families still have nothing to eat and nowhere to sleep.
With tens of thousands of civilians pouring out of the embattled Iraqi city of Falluja in recent days, US$17.5 million is urgently needed to meet their immediate needs, the UN Refugee Agency said today. More than 85,000 people have fled Falluja and the surrounding area since a government military offensive to retake the city from […]
By John Lee. Reuters repors that crude oil exports from Iraq's southern ports are averaging 3.144 million barrels per day so far in June. An official from the South Oil Company (SOC) said on Tuesday that this was down from the 3.2 million bpd achieved in May due to maintenance work and weather conditions. (Source: […]
By John Lee. In its trading update on Tuesday morning, Petrofac has confirmed that it has reached "mechanical completion" of the third and final train on the Badra project. The scope of work included detailed design, engineering, procurement, construction, pre-commissioning, commissioning and start-up work on the Badra development’s central processing facility. (Source: Petrofac)
By John Lee. Work on a the $6-billion Karbala Refinery Project has reportedly been suspended. According to Korea Times, the work has been halted "due to the Iraqi government's late construction payment, raising concerns about its solvency." The Engineer, Procure and Construct (EPC) contractor for the Karbala Refinery Project is HDGSK, a South Korean joint […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 15.0 million from the Kurdistan Regional Government as partial payment to DNO and partner Genel Energy plc for May crude oil deliveries to the export market from the Tawke field. The total invoiced amount for May is USD 39.28 […]
UN emergency fund allocates $15 million to support people fleeing Fallujah The top United Nations relief official chief today released $15 million from the UN Central Emergency Response Fund (CERF) to provide urgent life-saving assistance for people affected by the recent fighting and military operations in Fallujah. “People escaping Fallujah are in desperate need of […]
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 Attack, fighter and remotely piloted […]
Amec Foster Wheeler announced this morning that it has been awarded a three-year framework agreement by BP Iraq NV to complete conceptual studies and pre-front end engineering design (FEED) work to support BP plans to sustain and grown production at the Rumaila oil field in Iraq. Rumaila, one of the world's largest oil fields and […]
On the sidelines of the SPIEF'16 - St. Petersburg International Economic Forum, Kurdistan Region Prime Minister Nechirvan Barzani and his delegation met Mr. Alexander Novak, Russian Minister of Energy. Minister Novka welcomed the participation of Prime Minister Barzani and his delegation at St. Petersburg International Economic Forum, stressing the need to further develop the old […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th June 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQ670 (-2.5%) / $680 (-2.1%) (weekly change) (-38.5% and -40.7% YTD change, respectively). The number of week traded […]
