By John Lee. The Basra Gas Company (BGC) is expected to increase production from its current level of 900 million cubic feet per day (mcf/d) to 1,050 mcf/d by the end of this year. A statement from the Ministry of Oil on Thursday added that the project aims to reach a target of 2,000 mcf/d […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 29th November 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD650 (-2.0%) / $697 (-2.0%) (weekly change) (-19.9% and -16.6% YTD change, respectively). The number of week traded […]
By Ruslan Mamedov for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Putin eyes visit to Baghdad amid growing Russian-Iraqi contacts Lately, official Russian-Iraqi contacts have been intensifying noticeably. On Nov. 23, Russian Foreign Minister Sergey Lavrov and Iraqi President Barham Salih met behind […]
By John Lee. A former Minister for Trade and two former State Directors of the Ministry have been sentenced in absentia to seven years in prison for corruption. A statement from Iraq's Commission of Integrity said the three committed offenses in two contracts between the State Company for Trading Grain and a company supplying basmati […]
By John Lee. Iraq has allocated 67 percent of its oil exports for 2019 to Asia, with 20 percent going to the Europe and 13 percent to the United States (or to according to Reuters, to North and South America). In a statement, the Ministry of Oil said the allocation was made based on the […]
A former business partner of a U.S. military contractor was sentenced today to 18 months in prison for his role in a years-long scheme to bribe U.S. Army contracting officials stationed at a U.S. military base in Kuwait during the Iraq War. Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division, Special […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. As the Gulf crisis continues with the rivalry between Saudi Arabia and Qatar, with no sign of a resolution, each country deems it necessary to seek a rapprochement with […]
Large-scale flooding beginning on the morning of Friday (23/11) has wreaked havoc across Iraq, killing several people and causing widespread damage to homes, infrastructure and agriculture, and worsening the living conditions of internally displaced persons (IDPs). In Ninewa governorate, Qayarrah Airstrip and Jeddah IDP camps were particularly affected by the flooding. Among the approximately 7,500 […]
By Ranj Alaaldin. The June 2014 takeover of Mosul by the Islamic State group (ISIS) was described as an existential threat to the Iraqi state and the post-2003 political order. Yet, its emergence was only a symptom of a broader series of crises that had engulfed Iraq over the past decade. While militant groups dominate […]
The European Union has adopted today a €56.5 million package to promote sustainable job creation and strengthen support to refugees, internally displaced populations and their host communities in Iraq. This brings the total EU development assistance mobilised in favour of Iraq in 2018 to €129 million and it is part of the €400 million pledged […]
By John Lee. Gas exports from Iran to Iraq have reportedly been interrupted as authorities in Iran repair pipeline damage caused during a recent earthquake. The gas is used for electricity generation, with the cut reducing available power by 2,500 megawatts (MW). Supplies are expected to be restored over the coming days. (Sources: Iraq Oil […]
By John Lee. Iraq has fallen one place in this year’s Legatum Institute Prosperity Index, ranking in 143rd place out of the 149 countries measured. The index ranks countries according to its nine pillars of prosperity: Economic Quality, Business Environment, Governance, Personal Freedom, Social Capital, Safety and Security, Education, Health and Natural Environment. Despite Iraq’s […]
