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. Tough Choices: Everyone Agrees, Shiite Militias Must Be Invited to Fight in Ramadi, Iraq Early in the morning on May 15, the extremist group known as the Islamic State launched […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Recent territorial gains by ISIL are making many players very nervous:
By John Lee. Iraq has approved a $526.6-million (614 billion Iraqi dinar) drilling deal with China's Zhongman Petroleum and Natural Gas Group (ZPEC) for the West Qurna II oilfield, according to Reuters. Under the 28-month contract, ZPEC will drill 66 production oil wells at the Lukoil-operated field. Current production capacity at West Qurna II is […]
By John Lee. A report from Argus claims that Iraq has scheduled greater-than-expected initial volumes of its new Basra Heavy crude oil grade. The State Oil Marketing Organization (SOMO) plans to load more than 1.2 million bpd of Basra Heavy in June, boosting total Iraqi sales from its southern export terminals to a record high […]
By Walid Khoudouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq is passing through a dangerous phase. There is a lot of waste and corruption and little transparency in state institutions. The security situation is deteriorating. And lately, there has been negative information about […]
By John Lee. The Turkish Petroleum Overseas Company (TPOC) has issued a request for expressions of interest in its Mansuriya Gas Plant The Mansuriya gas field is located in Diyala governorate approximately 45 km north of Ba’quba city in Iraq. This location is about 100 km north-east Baghdad and south-west of Hamrin Lake. Turkish Petroleum […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The humanitarian crisis in Iraq is worsening, as people try to flee the city of Ramadi - which is now controlled by the Islamic State (IS, ISIS, ISIL). Many civilians have spent days […]
By John Lee. The head of the Trade Promotion Organisation of Iran, Valiollah Afkhami Rad (pictured), has signed a contract to set up a trade centre in Erbil. He said that a better understanding of the market in Erbil and throughout Iraq will result from the improved economic ties, and recommended that Iranian companies research […]
Kurdistan Region Prime Minister Nechirvan Barzani has received a delegation from the Russian Federation that included President Vladimir Putin’s Envoy to the Middle East and Deputy Foreign Minister Mikhail Bogdanov, Chairman of Gazprom Neft, Alexander Dyukov, and Deputy Energy Minister, Yuri Sentyurin. The delegation highlighted historic relations between Kurdistan and Russia, and their intention to […]
By John Lee. The Central Bank of Iraq (CBI) has allocated $5.1 billion (6 trillion Iraqi dinars) in loans to banks in a bid to keep a handle on inflation. Ali Allaq, Central Bank general manager, told the Al-Hayat newspaper on Monday that the CBI is responsible for the stability of the market, adding that […]
By John Lee. BlackRock Frontiers Investment Trust has said that the fund's most significant detractors from performance were its Iraqi oil stocks. In its Half-yearly Report, the fund commented: "Although Kurdistan has started exporting oil through it's pipeline to Turkey, the International Oil Companies ("IOCs") are still not receiving payment for these exports which is […]
The Kurdistan Regional Government (KRG) says it has been struggling to provide adequate humanitarian assistance to an overwhelming number of Iraqi internally displaced persons, IDPs, and Syrian refugees. However, according to the KRG Ministry of Planning, the Kurdistan Region needs further assistance from United Nation agencies and the international community in order to be able […]
