By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for October of 104,831,120 barrels, giving an average for the month of 3.382 million barrels per day (bpd), up from the 3.292 million bpd exported in September. The exports from the oilfields in central and southern Iraq amounted to approximately 102,070,427 barrels, while […]
By Nour H. Ayoub for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's new government outlines priorities Iraqi Prime Minister Mohammed Shia al-Sudani faces multiple challenges and constituencies to move his agenda. Click here to read the full article.
By John Lee. The Abu Dhabi Exports Office (ADEX) has reportedly signed a line-of-credit agreement worth AED36.7 million (US$10 million) with the National Bank of Iraq (NBI). According to WAM, the financing agreement was signed virtually by Khalil Al Mansouri, Acting Director-General of ADEX, and Ayman Abu Dhaim, CEO of the National Bank of Iraq. […]
By John Lee. The National Bank of Iraq (IBN) has seen an increase in net income after tax of 29 percent for quarter to the end of Septermber, compared with the same period in 2021. Parent company Capital Bank Group, based in Jordan, said net income after tax reached JD11.1 million [USD 15.7 million] by […]
By John Lee. Saudi Arabia's Public Investment Fund (PIF) has set up a company to invest in Iraq. The new company is one of six that will invest a total of up to SAR 90 billion (USD 24 billion) in Bahrain, Iraq, Jordan, Oman, Sudan and Egypt. They will invest in various key sectors, including […]
Transforming Kurdistan Region's water sector through digitalization The Kurdistan Region's Ministry of Agriculture and Water Resources is working towards adopting a smarter approach to water management by working towards digitalizing the water sector, another goal on Prime Minister Masrour Barzani's agenda for the reform and digitalization of government services. Paving the road to developing water […]
By John Lee. Iraq's Ministry of Oil has issued the following profile of the new Oil Minister, Hayan Abdul-Ghani Abdul-Zahra Al-Swad [Hayyan Abdul Ghani; Hayan Abdulghani]: Date and Place of Birth: Basra, 1958 Academic Qualifications: BSC Mechanical Engineering/ University of Basra MSC Mechanical Engineering / University of Basra Career and Positions: The Minister has a […]
By John Lee. Mobile phone service Asiacell has reported a drop in revenues and EBITDA. In its financial results for the nine months ended 30 September 2022, parent company Ooredoo said: "Asiacell reported revenue of QAR 2.7 billion, a decrease of 2%, due to the ongoing intense competition in Iraq. "Asiacell's EBITDA dropped by 7% […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's unemployment crisis puts spotlight on foreign workers Iraq has a major unemployment problem. For the past decade, official unemployment rates have seen a continuous rise, reaching 14.2% in 2021. The lack of […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for September of 98,765,153 barrels, giving an average for the month of 3.292 million barrels per day (bpd), slightly up from the 3.286 million bpd exported in August. The exports from the oilfields in central and southern Iraq amounted to approximately 96,445,421 barrels, […]
By John Lee. KRG Prime Minister Masrour Barzani has inaugurated the Lanaz Refinery in Erbil. According to a statement from the KRG, the inauguration paved "the path to hundreds of new employment opportunities for Kurdistani youth at the facility, which boasts of a production capacity of 75,000 barrels of crude oil per day." The statement […]
By John Lee. The Iraqi parliament has given a vote of confidence to incoming Prime Minister Muhammad Shia al-Sudani and his new cabinet. A full listing of the new ministers, along with alternative spellings used by some sources, is shown below: Deputy Prime Minister and Minister of Foreign Affairs, Mr. Fouad Hussein [Fuad Hussein] Vice […]
