By John Lee. In the latest move to curb corruption and streamline the government, Prime Minister Haider al-Abadi on Thursday ordered a reduction of up to 90 percent in the number of security personnel allocated to protecting top government officials. More than 20,000 guards, costing an estimated 250 billion Iraqi dinars ($215 million) annually, will […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, set record production levels from the Tawke field in the Kurdistan region of Iraq during the second quarter of 2015 with output averaging 153,346 barrels of oil per day (bopd). A total of 118,037 bopd, representing 77 percent of field production, was delivered to […]
By John Lee. On Thursday the Prime Minister Dr. Haider Al-Abadi held a meeting in his office with the Japan International Cooperation Agency (JICA) to discuss projects to provide drinking water to the province of Basra. During the meeting, there was a follow-up on the water desalination project in al-Hartha in Basra. Dr. Abadi stressed […]
MEOSAT has announced that its O3b system is live and operational, delivering uninterrupted network service to Southern Iraq. Oilfields enabled by digital technologies provide the highest ROI and have the greatest potential to reduce risk, optimize production and contribute to higher operational efficiency for Oil & Gas operators. This is made ever more relevant and […]
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi parliament voted Aug. 11 to approve Prime Minister Haider al-Abadi and parliament Speaker Salim al-Jabouri’s economic, political and administrative reform measures in response to the demands of the Iraqi street. These measures […]
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. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Bomber, fighter and remotely piloted […]
By John Lee. The Iraqi government has reportedly appointed three major international banks to advise on its first international bond issue in almost a decade. Citigroup, Deutsche Bank and JPMorgan Chase will assist in placing $6 billion (7.2 trillion Iraqi dinars) of new government bonds, in an attempt to bridge the budget deficit. According to […]
By John Lee. During a visit to the West Qurna II oilfield in Basra, Prime Minister Haider al-Abadi reiterated his government's commitment to ensuring the security of the southern oilfields and their workers. He met with senior management of the Russian operator Lukoil, following protests by locals demanding jobs. A Lukoil official told Reuters that […]
By John Lee. Sabotage and theft from pipelines has cost the Kurdistan Regional Government (KRG) an estimated $501 million (584 billion Iraqi dinars) since the start of July, the KRG's Ministry of Natural Resources said in a statement: "Persistent theft and attempted theft from the Iraq-Turkey crude oil pipeline in the southeast of Turkey continues […]
By John Lee. The lastest phase of the Iraqi heatwave is expected to peak on Thursday. Forecasters are expecting highs of 51 degrees Celsius in most southern cities, and 49 degrees in Baghdad. They are also expecting higher-than-usual humidity. The Iraqi government recently introduced a policy of declaring public holidays when temperatures exceed 50 degrees. (Source: […]
By John Lee. Imperial Tobacco Group, Europe’s second-biggest tobacco company, has reported that its revenues and profits for the nine months to the end of June were reduced by difficulties with its Iraq business. In a statement to the markets, the company said: "Underlying tobacco net revenue was flat but grew 1 per cent excluding […]
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 today. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Airstrikes in Syria Bomber and fighter aircraft […]
