By John Lee. Iraq's Oil Ministry is preparing a draft law to revive the National Oil Company (NOC), which was set up in the 1960s but merged into the Oil Ministry in 1987. Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] (pictured) told Reuters the move would be “vital for the development of the energy sector” […]
By John Lee. An explosion on Friday has damaged a section of the pipeline that supplies gas for about half of the electricity generation in Iraqi Kurdistan. The KRG's Interior Ministry said an investigation was underway to find the cause of the explosion near the district of Shwan. The pipeline feeds gas from the Khor […]
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] (pictured) has said Iraq was willing to accept a decision by OPEC and non-OPEC members to cut crude production. Reuters quotes the Minister as saying: “Iraq will agree and cooperate if producers really want to cooperate to cut.” (Sources: Reuters, Shafaaq)
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th Jan 2016). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD925 (-2.1%) / $960 (-1.3%) (weekly change) (-15.2% and -16.2% YTD change, respectively). The number of week traded […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported on Sunday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter, and […]
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. The city of Ramadi was liberated on Dec. 28, and Iraqi security troops accompanied by the Tribal Mobilization Forces, which are affiliated with the Popular Mobilization Units, advanced toward the remaining cities of […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Falling oil prices and the rising cost of the war against ISIL is causing hardship in Iraq. Salaries for government employees have been cut, and they get paid every six weeks instead of […]
By John Lee. U.S. Army Lieutenant General Sean MacFarland has said the US military was working with the Iraqi government on a plan to protect civilians in the event of a collapse of Mosul Dam. Reuters quotes him as telling journalists in Baghdad: "The likelihood of the dam collapsing is something we are trying to […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Post-Islamic State Problems: Diyala Province Undergoing Violent Ethnic and Sectarian Cleansing Locals in Diyala province say the area is undergoing ethnic and sectarian “cleansing”. Sunnis are not being allowed back […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. US-led coalition troops have adapted their training for Iraqi forces to teach them how to breach jihadist defences in larger-scale assaults on Islamic State group strongholds, officers said Wednesday.
By John Lee. The Iraqi government is reportedly considering the sale of more than 600,000 state-owned properties, including around 1,000 that formerly belonged to Saddam Hussein. The sale could potentially yield $150 billion, helping to bolster the country's finances as it struggles to cope with lower oil prices. But according to a report from The […]
By John Lee. Transparency International has said that Iraq has risen slightly in its global Corruption Perceptions Index (CPI). From at total of 167 countries, Iraq came in at number 161, slightly better than last year’s position of 170 out of 175 countries, and tying with Libya. This result puts it ahead of countries such […]
