Tag Archives | featured

Paris to host Int'l Meeting on Iraq, Syria

By John Lee. A French government spokesman  has confirmed that an international meeting on the conflicts in Iraq and Syria will take place in Paris on 2nd June. French Foreign Minister Laurent Fabius, US Secretary of State John Kerry and Iraqi Prime Minister Haidar Al-Abadi are to co-chair the meeting. According to a report from […]

Baghdadis Live with Constant Threat of Violence

By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Cafe Ridha Alwan in central Baghdad's Karrada district was packed with customers, mostly intellectuals, when an explosion rang out May 2 followed by gun shots. Sirens of the ambulance and firefighter trucks […]

Basra Light Premium hits Multi-Year High

By John Lee. Reuters reports that spot premiums for Basra Light crude hit a multi-year high on Thursday, after Iraq cut supply of the grade to export more of its new Basra Heavy oil in June. Traders told the news agency that the premium for June-loading Basra Light surged to more than $1 a barrel […]

IS seizes Syria's last Border Crossing with Iraq

By John Lee. The Islamic State (IS, ISIS, ISIL) has reportedly seized the last border crossing between Syria and Iraq controlled by the Syrian government. The Syrian Observatory for Human Rights said on Thursday that forces loyal to Syrian President Assad withdrew from the crossing, while Reuters reports that Iraqi security forces have also withdrawn […]

PM Al-Abadi Receives Presidents of Big Russian Companies

By John Lee. During his visit to Moscow, Prime Minister Haider Al-Abadi received the presidents of three major Russian oil and gas companies: Soyuzneftegaz group, Lukoil, and Gazprom. At the start of talks with Abadi in the Kremlin, Russian President Vladimir Putin said Russia is expanding cooperation with Iraq in the area of military technology, […]

Shiite Militias must be Invited to Fight in Ramadi

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 […]

Video: ISIL's Tactics in Iraq

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:

Chinese Firm wins $526m Drilling Deal

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 […]

Increased Basra Heavy Oil Volumes

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 […]

Iraq’s Missing Money

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 […]