By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for January of 99,286,078 barrels, giving an average for the month of 3.203 million barrels per day (bpd), down from the 3.277 million bpd exported in December. The exports from the oilfields in central and southern Iraq amounted to approximately 96,430,596 barrels, while […]
By John Lee. A US court has sentenced the former CEO of Gulf Keystone Petroleum (GKP) to five years in prison for tax evasion. According to a statement from the US Department of Justice, Todd Kozel used offshore structures, trusts, and bank accounts to conceal a portion of his undeclared income from the U.S. government. […]
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Sadr committed to forming Iraq's first majority government The Coordination Framework, comprised of several Shiite parties is seeking a national unity coalition modeled on previous governments, while Sadr whose bloc won […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq-Jordan Oil Pipeline -- Financially Costly, Contractually Complex Since 1983 the Basra-Aqaba, or Iraq-Jordan, oil pipeline (IJOP) has been on and off the screen of the bilateral relation between the two countries. […]
By John Lee. Iraq's Minister of Agriculture, Muhammad Karim Al-Khafaji, and the Saudi Minister of Agriculture, Water and Environment, Abdul Rahman Al-Fadhli, have signed a memorandum of understanding (MoU) promoting cooperation in the areas of agriculture and fisheries. The agreement includes cooperation in a number of fields, including: plant production and plant pest control, support […]
By John Lee. A ride-hailing app that was launched in Baghdad last month has reportedly closed the largest seed round in the tech history of Iraq. According to Wamda, Baly is backed by Germany's Rocket internet, and raised $10.5 million from Kingsway Capital, MSA Capital, Global Founders Capital, Vostok Ventures, Majid Al Futtaim and March […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for December of 101,579,927 barrels, giving an average for the month of 3.277 million barrels per day (bpd), almost equal to the 3.273 million bpd exported in November. The exports from the oilfields in central and southern Iraq amounted to 98,570,290 barrels, while […]
By John Lee. The General Director of Azerbaijan-based oil services company SOCAR AQS, Samir Mollayev, met with a delegation led by General Director of Iraqi Drilling Company (IDC), Basim Abdulkareem, on Tuesday. At the meeting held in Socar's Baku office, he informed the guests about the development of the oil and gas industry in Azerbaijan, […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th January 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD944 (+4.4%) / $828 (+4.4%) (weekly change) (+2.8% and +2.8% YTD change, respectively). The number of week traded […]
By John Lee. Iraq and Saudi Arabia have signed a memorandum of understanding (MoU) to link their power grids. It was signed by Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman, and Iraq's Minister of Electricity, Adel Karim. The Secretary-General of Iraq's Council of Ministers, Dr. Hamid Naim Al-Ghazi [Hamed Al Gazi], called on […]
By John Lee. The Iraqi Cabinet has directed the Ministry of Finance to provide 15 billion dinars (approximately $10 million) to the Ministry of the Interior, the Agency for Federal Security Affairs, and the Border Guard Forces Command, to enhance security and start the second phase of construction of a concrete barrier between Wadi Al-Ajeeh […]
By John Lee. The President of the Iraqi National Oil Company (INOC) has laid the foundation stone for the $594-million crude oil processing plant at Block 9, within the Al-Fayha Oil Field in Basra Province. Ihsan Abdul-Jabbar Ismail said that the development is important for the production of light oil, with a target for this […]
