Tag Archives | featured

KRG “Sets the Record Straight” on Oil Exports

By John Lee. The KRG’s Ministry of Natural Resources (MNR) has issued a statement which it claims will “set the record straight on oil export and revenue:” The full text of the statement is shown below: In 2014, Dr. Maliki’s government cut the entire Kurdistan budget creating a financial crisis for the people of the […]

Iraq, Iran to Resume Banking Ties

By John Lee. Delegations from two Iranian banks have visited Baghdad to discuss the resumption of banking ties between the two countries. Morteza Shahidzadeh, the Managing Director of Iran’s Keshavarzi Bank, and Managing Director Hassan Motamedi of Eghtesad Novin (EN) Bank, will meet with top Iraqi banking officials. According to a report from AIN, Iran […]

Ministers ‘to be Tried for Corruption’

By John Lee. The Iraqi Commission of Integrity has announced that over 2,000 people, are to face trial for corruption. According to a report from BasNews, this number includes 13 govenment ministers. At a press conference in Baghdad on Thursday, the Head of the Commission, Hassan al-Yassiri declared that in support of the Iraqi Prime […]

Iraq’s Child Soldiers

By an Al-Monitor correspondent in Tehran. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The world has borne witness to countless crimes committed by Islamic State militants in Iraq and Syria over the past year. Iraqi and Syrian children have not been spared from these atrocities. […]

The Long, Troubled History of KRI’s Presidency

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. Making It Up As They Go Along: The Long, Troubled History of Iraqi Kurdistan’s Presidency The Iraqi Kurdish President’s term expired yesterday. And the political actors in the semi-autonomous, northern […]

PM Cuts Security for Top Officials; 20,000 Redeployed

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 […]

DNO: Need Ongoing Revenues to Sustain Operations

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 […]

Japan Considers Water Projects in Basra

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 Iraq Service is Live

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 […]

Will Abadi’s Reforms work?

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 […]

Airstrikes Hit ISIL in Syria, Iraq

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 […]

Int’l Banks hired for $6bn Bond Sale

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 […]