By Padraig O'Hannelly. Dramatic moves this week by Prime Minister Haider al-Abadi to tackle corruption and bureaucracy have been widely welcomed, both within Iraq and internationally. Abolishing senior positions such as those of Deputy President and Deputy Prime Minister -- there were three of each -- scrapping sectarian and party quotas for state positions, and […]
By John Lee. Prime Minister Haider al-Abadi (pictured) has reportedly dismissed his cabinet secretary and his aides on Wednesday. Mohammed Khalaf Ahmed was said to be a close associate of Abadi’s predecessor, Nouri al-Maliki. Reuters cites an official in his media office as saying that the move was as part al-Abadi's push to cut "unnecessary government […]
Having finalized the necessary documentation with the Federal Foreign Ministry of Iraq and the KRG Department of Foreign Relations, the European Union will soon open an EU Delegation Liaison Office in Erbil to support the current activities of the EU in coordination with the Kurdistan Regional Government, the United Nations and NGOs. Minister Falah Mustafa, […]
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 strikes that took place yesterday, noting that assessments of results are based on initial reports. Airstrikes in Syria Attack, bomber, […]
By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra and Kirkuk crude oil for September. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); […]
By John Lee. Iraq’s crude oil production climbed to an all-time high of 4.18 million barrels a day in July, according to statistics from the International Energy Agency (IEA). This was up from the 4.15 million bpd produced in June. The southern oilfields accounted for exports of 3.06 million bpd, up about 40,000 barrels from […]
By John Lee. Kirkuk Provincial Council has reportedly decided to change the name of North Oil Company (NOC) to Kirkuk Oil Company (KOC). A local source told Shafaaq that the decision came after the Islamic State (IS, ISIS, ISIL) terrorist organization took control of many areas in which the company worked, leaving it now with […]
By John Lee. The Central Bank of Iraq (CBI) has launched a new scheme of loans for "industrial, agricultural and real estate" banks. According to the report from Shafaaq, a total of 5 trillion Iraqi dinars [$4.3 billion] will be made available. The governor of the CBI, Ali al-Alaq, has reportedly promised to make more […]
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, fighter-attack and remotely […]
By John Lee. The Iraqi parliament has unanimously approved Prime Minister Haider al-Abadi's programme of reforms aimed at stamping out corruption, reducing government waste and easing sectarian tensions, reports BBC News. The bill, which includes the elimination of senior posts, was reportedly pushed through without debate. On Monday, Deputy Prime Minister Baha al-Araji resigned amid […]
By Samar Rassam-Whitticombe, CEO of Somer Industrial Projects (SIP). This is an extract from an article originally published by Nina Iraq, and is reproduced here with permission. After celebrating the end of Ramadan, I hope that everyone experienced a welcoming Eid al-Fitr. Unfortunately, the time of joy for Iraqi citizens was tinged with sadness due […]
Fitch Ratings issued its first rating on Iraqi sovereign debt, giving it the fifth-worst junk grade, due in part to the cost of the civil conflict and the global slump in oil prices. The rating comes as the country is planning a $5-billion bond issue towards the end of this year. The international ratings agency […]
