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Iraq

Iraq, Chinese firm to sign for development of Baghdad oil field

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Baghdad: Iraq will sign a contract with a Chinese company for the development of an oil field east of the capital, Baghdad, a spokesperson of the oil ministry said. Assem Jihad said Iraq will sign the contract with ZhenHua Oil to develop the southern section of Eastern Baghdad oilfield. He said the agreement aims to drive up production from the ... Read More »

Iraq’s only Kurdish airline takes off with Europe flight

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Iraq — Iraq’s only Kurdish airline launched on Monday with a flight to Sweden, after years of delays because of the offensive by the terror group Daesh in the country. Officials hope Fly Erbil’s take-off is a sign of changing fortunes in the autonomous region, which has suffered from the militants onslaught and a failed independence bid. Daesh delayed our ... Read More »

Baghdad Entrepreneurs get Communal Space and Resources

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The Iraq Britain Business Council (IBBC) recently completed a mission to Baghdad, where Christophe Michels, Managing Director and Eng. Rasmi Al-Jabri Deputy Chairman, visited The Station, Iraq’s first combined workspace in Iraq, providing a hub for artistic & tech entrepreneurs to develop and expand business projects. Located in Baghdad, The Station’s vision is to create a healthy work environment by ... Read More »

Iraq, Chinese firm to sign for development of Baghdad oil field

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Baghdad: Iraq will sign on Wednesday a contract with a Chinese company for the development of an oil field east of the capital, Baghdad, a spokesperson of the oil ministry said. Assem Jihad said Iraq will sign the contract with ZhenHua Oil to develop the southern section of Eastern Baghdad oilfield. He said the agreement aims to drive up production ... Read More »

Iraq exported more than 100m oil barrels in April: ministry

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Baghdad: Iraq exported more than 100 million barrels of oil during the month of April, the oil ministry said on Wednesday, noting that revenues exceeded USD6.5 billion. Ministry spokesman, Assem Jihad, quoting a final statistic by the state-run oil marketing company, SOMO, said exports stood at 100.197.197 barrels during the month of April, yielding revenues of USD6.501.695.000. That was a ... Read More »

Abadi meets Allawi over coming govt consultations

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Iraqi PM Haider Abadi met with Vice President Iyad Allawi for consultations over the formation of the next government. Abadi’s press office said in a statement that the two sides “discussed the developments in the political process and the formation of the next government on a national basis.” Both sides tackled the possibility of integrating Allawi’s National Alliance into the ... Read More »

Iraq’s al-Sadr, promising reform, is constrained by Iran

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BAGHDAD: Iraq’s Muqtada al-Sadr, the maverick Shiite cleric whose political coalition beat out Iran’s favored candidates to come in first in national elections, says he wants to form a government that puts Iraqis first. The electoral commission announced early Saturday that the militant-turned-populist preacher, who has long spoken out against both Iranian and US influence in Iraq, had defeated his ... Read More »

Muqtada al-Sadr: Iraq’s militia leader turned champion of poor

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Shia leader Muqtada al-Sadr surprised the world when his Sairoon Alliance captured more parliamentary seats than any other party or alliance in Iraq’s parliamentary elections, in a remarkable comeback after being sidelined for years by Iranian-backed rivals. Once known as a staunch anti-American militia leader, al-Sadr has rebranded himself in recent years as a patriotic champion of the poor and ... Read More »

Australia Increases Support to Stabilization in Iraq

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The Government of Australia has contributed an additional USD 13.5 million (AUD 18 million) to the UNDP Funding Facility for Stabilization (FFS), which finances fast-track initiatives in areas of Iraq liberated from the Islamic State of Iraq and the Levant (ISIL). This brings Australia’s total contribution since 2015 to USD 16.5 million (AUD 22 million). UNDP Resident Representative for Iraq, ... Read More »

Central Bank of Iraq Auctions $146,004,033

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Baghdad: The Central Bank of Iraq (CBI) currency auction on May 8 registered $146,004,033 in sales, a 45.59% volume increase from the US $100,281,900 sold by Iraqi Dinar, credit and transfer at the previous auction. The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on May 8 compared to the ... Read More »

Iraq signs BP deal for Kirkuk oilfield development: ministry

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Baghdad (IraqiNews.com) Iraq intends to sign a contract with British Petroleum for the development of oil fields at Kirkuk province, the oil ministry said. Ministry spokesperson Assem Jihad was quoted by Alsumaria News saying that “Oil Minister Jabbar al-Luaibi will attend tomorrow, a signature ceremony for the development of Kirkuk oil fields by the North Oil Company and BP”. According ... Read More »

Iraq approves oil exploration near Iran and Kuwait

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 BAGHDAD: Iraq’s oil ministry said yesterday it has granted licences to explore oil blocs in zones bordering Iran for the first time in half a century. Licences have been issued to two Chinese companies and one Emirati firm for three blocs close to Iran and one near Kuwait, according to the ministry. The ministry also granted licences to exploit gas ... Read More »

Iraq could transport up to 1 m bpd via Jordan’s Red Sea port

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BAGHDAD: Iraq Opec’s second-largest producer, could transport up to a million barrels of oil per day through Jordan once work begins on a pipeline linking crude from southern Iraq to the kingdom’s Red Sea port city of Aqaba. “That project is still in place and we’re going to go ahead with it. We need another outlet for our crude oil,” ... Read More »

Iraq’s oil exports rise by 11% in March

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BAGHDAD: Iraq’s oil exports rose by 11.5 per cent on an annual basis in March to 107.05 million barrels. The Iraqi Oil Ministry said on Sunday that the value of its oil exports last month amounted to $ 6.4 billion. The Iraqi oil exports reached in last February about 95,940,000 barrels. The ministry spokesman Asem Jihad said in a statement ... Read More »

Economic Integration and Political Reconciliation in Iraq

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BAGHDAD: Iraq and the Levant’s (ISIL) control over territory in Iraq has crumbled.1 Yet the fate of Iraq’s religious minorities remains unclear. When it was in control, ISIL treated all populations under its rule with great brutality, but the jihadist group specifically targeted Iraq’s Christian and Yazidi communities for enslavement and violence, leading to widespread death and displacement among these two ... Read More »

Iraq launches airstrikes on ISIS positions in Syria

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BAGHDAD: Iraq has officially launched air strikes on Islamic State of Iraq and Syria (ISIS) strongholds in Syria on Thursday. According to Russia Today, strikes were launched in coordination with the Syrian government. “According to the orders of the commander-in-chief of the armed forces, Dr. Haider Al-Abadi, our heroic air force carried out, on Thursday, in Syria near Iraqi border deadly air strikes against Daesh’s Terrorists gangs,” Iraqi Prime Minister’s office tweeted on ... Read More »

Central bank of Iraq auctions $121,787,000 on 18 April 2018

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BAGHDAD: The Central Bank of Iraq (CBI) currency auction on April 18 registered $121,787,000 in sales, a -11.08% volume decline from the US $136,965,000 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 17. The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April ... Read More »

One killed in car bomb targeting Iraq election candidate

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BAGHDAD: A car bomb attack targeted an election candidate in Iraq’s contested Kirkuk city today, killing one person and wounding 11, a security official said. The blast in the multi-ethnic city, some 250 kilometres (155 miles) north of Baghdad, came as war-torn Iraq gears up for legislative elections on May 12. “A civilian was killed and 11 people were injured, including three bodyguards, in the convoy of Ammar ... Read More »

Iraqi shia militia smuggles oil into Iran

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BAGHDAD: The Hashd al-Shaabi paramilitary organization in Iraq is smuggling crude from fields around Kirkuk to Iran, an Iraqi MP told Kurdistan 24, a local news outlet. The Shia organization is backed by the Iranian government. According to the MP, Ashwaq Jaff, the Hashd al-Shaabi is using the money it gets for the oil to strengthen its positions in Iraq while the ... Read More »

Iraq exports hit infrastructure ceiling

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BAGHDAD:  Iraq is being forced to limit its oil exports due to extensive delays in maintaining and upgrading outdated infrastructure in Basra. As the country tries to sustain near-record export levels, some pipelines simply cannot handle the pressure and have begun leaking. Iraq Oil Report has directly observed the resulting oil slicks in the Basra Gulf, which are also visible ... Read More »