By John Lee. Iraq has paid international oil companies (IOCs) $9 billion in remaining arrears for 2014, according to a report from Reuters. Oil Minister Adel Abdel Mahdi (pictured) said that the outstanding fees for 2015 will be paid in stages until the beginning of next year. (Source: Reuters)
By John Lee. A foreign-exchange crunch cause by the drop in oil prices could force a devaluation of the Iraqi dinar, according to a report from Bloomberg. Data compiled by Bloomberg show that dollar reserves fell by approximately 20 percent to $59 billion as of July 23, while in the first 25 days of August […]
By John Lee. The United Nations has condemned the execution by the Iraqi Kurdistan Regional Government of three people convicted of murder and kidnapping - the first use of the death penalty in the region in seven years. Rupert Colville (pictured), Spokesperson for the UN High Commissioner for Human Rights, said in a statement: "We […]
High Level Workshop on Gender Equality in Budgeting Launched in Erbil The United Nations Development Programme (UNDP) launched on Monday, at Shahid Saad Abdullah Conference Centre in Erbil, a three-day high-level workshop on gender sensitive budgeting. The workshop is part of the activities implemented under the UNDP Local Area Development Programme (LADP), a project funded […]
By Brenda Stoter for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. When Hemin Zangana was sent to the front line in August 2014, he and his fellow peshmerga fighters were determined to recapture the Mosul Dam from the Islamic State. They told each other they would […]
Turkish carrier AtlasGlobal, formerly known as Atlasjet, will be expanding service to Iraq starting in September 2015. New routes will be launched from Erbil, Sulaymaniyah, Baghdad and Basra. This is in addition to Najaf. eff 03SEP15 Istanbul Ataturk – Erbil 2 daily KK6200 IST0635 – 0900EBL 320 246 KK6200 IST0635 – 0900EBL 321 x246 KK6202 IST1500 […]
A new report suggests that Israel has bought more than three-quarters of its oil from the government of Iraq’s semi-autonomous Kurdistan Region. According to the Financial Times, Israeli firms and refineries imported over 19 million barrels of oil worth one billion dollars between May and August 20-15. That’s almost 77 percent of the crude exported […]
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 Fighter and remotely piloted aircraft […]
Gulf Keystone Petroleum (GKP) has announced that Nadhim Zahawi (pictured) has been appointed as Chief Strategy Officer. Mr Zahawi is joining Gulf Keystone's management team and will be responsible for the evaluation of strategic options for the Company, reporting to CEO Jón Ferrier. Mr Zahawi, 48, is of Kurdish origin, and moved from Iraq to […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th Aug 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,239 (-1.4%) / $1,297 (-1.4%) (weekly change) (-11.0% and -12.5% YTD change, respectively). The number of week traded […]
By John Lee. Iraq's Ambassador to Iran, Rajeh Saber Aboud al-Moussavi, has said that Tehran and Baghdad are in talks on investment in the joint Azadegan oilfield. The field, situated 80-100 kilometres west of Ahvaz in Khuzestan province in Iran, was discovered in 1999, and has reserves estimated at 33 billion barrels. It is already […]
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 […]
