By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for June of 86,765,589 barrels, giving an average for the month of 2.892 million barrels per day (bpd), slightly down from the 2.899 million bpd exported in May. The exports from the oilfields in central and southern Iraq amounted to approximately 83,690,352 barrels, […]
By John Lee. At a meeting in Brussels on Wednesday, Iraqi Prime Minister Mustafa Al-Kadhimi asked the President of the European Commission, Ursula von der Leyen, to remove Iraq from its list of countries considered to have a high risk of money laundering. Earlier this year, the United Kingdom removed Iraq from its list of […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st July 2021). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD940 (-0.1%) / $824 (-0.1%) (weekly change) (+29.5% and +24.3% YTD change, respectively). The number of week traded […]
By John Lee. Iraq's Minister of Electricity, Majed Mahdi Hantoosh [Hantoush], has reportedly submitted his resignation, following protests over repeated power cuts. Anadolu Agency says the resignation was accepted by Prime Minister Mustafa Al-Kadhimi. Muqtada Al-Sadr, leader of the Sadrist movement, had recently called for the Minister to be sacked. (Source: Middle East Monitor)
By John Lee. Northrop Grumman Systems Corp., Fort Worth, Texas, has been awarded a $19,296,927 firm-fixed-price, cost-plus-fixed-fee, cost reimbursement contract for contractor logistics support of Iraq's C-172 & C-208 (Cessna) fleets. The award provides for the exercise of options to extend the term of the contract for the continued services that may be needed in […]
The Kurdistan Regional Government (KRG) has released its annual oil and gas audit report for 2020, which revealed several drops in production due to the COVID-19 pandemic. The region's total exported and consumed oil for the year stood at 165,942,861 barrels, about 5 million barrels less comparing to 2019. The average price of oil dropped […]
By John Lee. Iran has reportedly suspended the supply of gas and electricity to Iraq, at a time when the country is struggling to cope with with soaring temperatures. According to AP, Iraq already owes Iran $4 billion for energy imports, and Iran is pushing to have the debt paid. More here. (Source: AP)
The International Finance Corporation (IFC), a member of the World Bank Group, is investing in Basrah Gas Company (BGC) to support one of the largest gas flaring reduction projects in the world, helping to improve energy access, prevent associated greenhouse gas (GHG) emissions and support a more resilient, sustainable energy sector in Iraq. BGC is […]
In response to the sentencing of Iraqi Kurdish photojournalist Qaraman Shukri to seven years in prison in a secret trial, the Committee to Protect Journalists (CPJ) issued the following statement: "Kurdish authorities in northern Iraq are making an appalling habit of sentencing journalists to prison without any regard for due process and for the rights […]
By John Lee. Egypt's President Abdel Fattah al-Sisi and Jordan's King Abdullah arrived in Baghdad on Sunday for a fresh round of talks aimed at strengthening cooperation between the countries. It is the first visit by an Egyptian head of state to Iraq since Iraq's invasion of Kuwait in 1990. The leaders agreed on the […]
Italy renews its commitment to Iraq's stabilization with a new US$2.4 million contribution The Ministry of Foreign Affairs and International Cooperation of Italy, represented by the Italian Agency for Development Cooperation (AICS), is supporting the United Nations Development Programme (UNDP) with an additional EUR 2 million (US$2.4 million) to assist communities affected by the Islamic […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi government takes on housing crisis The Iraqi government is mulling over several housing projects to solve the mounting housing crisis. Click here to read the full story.
