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Iraq Business News

The US Coast Guard has lost track of a Kurdish tanker carrying $100 million in disputed oil off the coast of Texas. Headed for Galveston, the United Kalavyrvta was anchored at least 60 miles off-shore when it vanished from radar screens. The ship's haul fell under legal dispute when Iraq filed a lawsuit in US courts, urging American officials to grab the ship's oil in Galveston because it belongs to Iraq, not the Kurdish National Government.
The Provisional Liquidators reported that they had completed the asset realizations of Rafidain Bank in the UK and that there were no funds remaining in either the Provisional Liquidation or the Scheme. The Provisional Liquidators will now apply to the English Court to vacate the office, following which they will seek release from liability in relation to the Provisional Liquidation of Rafidain Bank.
Iraq's central Al Diwaniyah governorate intends to invite foreign investors to construct a new civilian airport after it received approval from the central government in Baghdad.
The security forces liberated Amerly district from the ISIL terrorists.
The Badra oilfield development project is scheduled to last 20 years with a possible 5-year extension
On last Thursday, Iraqi ministry of oil stated that it would challenge a U.S. court decision that stopped U.S. Marshals from seizing some one million barrels of disputed Kurdish oil docked near Texas.
According to the officials, Iraq is restoring power to its northern and central provinces after the "Islamic State of Iraq and the Levant" (ISIL) crippled regional plants and transmission lines.
The Iraqi National Alliance decided to discuss the governmental program with the political blocs before the formation of the government.
Former Iraqi Oil Minister Issam al-Chalabi said that estimates from reliable reports confirm that the Islamic State (IS) would reap between $100-150 million from the smuggling of Iraqi oil during 2014. He said that the quantity of the smuggled oil is so large that it is impossible to monitor and determine the dealers involved in this trade.
Iraqi Kurdistan has shipped 8.8 million barrels of oil from the Turkish port of Ceyhan since May, Turkish Energy Minister Taner Yildiz said, as the autonomous region employs new tactics to establish independent oil sales in defiance of Baghdad.
MP, Majid Shinkali, of the Kurdistan Alliance criticized the absence of the Acting Defense Minister, Sa'doun al-Dulaimi, to from the parliament session.
Iraqi forces and Kurdish have recaptured two oil fields and mounted an offensive to retake the town of Zummar, part of a broader bid to recover areas of the country’s north lost to Islamic State fighters.
On Thursday, Iraqi foreign minister Hoshyar Zebari met the U.S. Ambassador Robert Stephen Beecroft to discuss the political and security developments in the country.
U.S. fighter planes conducted five airstrikes against Islamic State targets in northern Iraq on Thursday, continuing a limited campaign aimed at helping Iraqi and Kurdish forces retake key territory and degrade the militants' capability.
The governor of Basra Majid al-Nasrawi discussed in Basra on Wednesday with the executive manager of the Standard and Chandler Bank, Ghavin Weshart, the possibility of mutual economic cooperation.
On Sunday, the German government will decide what specific military aid it will send to Kurdish forces in Iraq to help them fight Islamic State militants in the north of the country, German Foreign Minister Frank-Walter Steinmeier said.
A stable and inclusive government in Baghdad is a prerequisite for Australian combat involvement and the RAAF's Super Hornets would be first choice, Defense Minister David Johnston says.
Oil Search reported that on 20 August, preparations were underway to temporarily suspend the Taza 2 appraisal well, in the Kurdistan region of Iraq.
Iraq's oil exports from its southern terminals so far in August have fallen by about 140,000 barrels per day, according to loading data and industry sources, dropping further from a record high reached in May.
Iraqi MP, Ali al-Allaq, of the Dawa Islamic Party within the Iraqi National Alliance stated that Central Government and Kurdistan Region agreed upon arming the Peshmerga forces.
MP, Tawfeeq al-Ka'abi, of the National Reform Trend within the Iraqi National Alliance, stated that the PM-designate, Haider al-Ebadi, and the INA aim at forming the government on time.
The head of Kuwait Energy says she’s encouraged by recent gains in Iraq against the militant Islamic State group and would welcome more investment there.
As ISIS’s influence in Iraq and Syria continues to spread, international commentators have begun to look towards China. As the most significant foreign investor in Iraq’s oil and a beneficiary of stability in the Middle East, many have argued that China should be playing a more active role in maintaining the stability of the region.
Unrest within Iraq has caused dramatic drop in trade relations between Iraq and its neighboring Jordan.
Minister of Foreign Affairs of Iraq, Hoshyar Zebari has met Foreign Minister of the Kingdom of Norway, Børge Brende, and the delegation accompanying him.
War has so ravaged Iraq that the country is turning to a family firm in the rolling hills of Cumbria to create masterplans for cities 3,000 miles away. Stuart Jeffries learns how
Worsening security challenges in Iraq is becoming quite a challenge for the country to move forward with its ambiguous oil expansion plans, though oil companies in Iraq are putting on a brave face.
Nouri al-Maliki and the Islamic Dawa Party took office in Iraq eight years ago. Oil revenues topped $41 billion in 2007 and rose to nearly $86 billion in 2013. Oil production ranged between 2 million barrels per day at the beginning of that period to nearly 3 million barrels at its end.
A Kurdish deputy has revealed the names of permanent committees in the Council of the Representatives that will be chaired by deputies from the Kurdish blocs.
The airstrikes from US has certainly blunted the momentum of the Islamic militants, though defeating them will need a bigger regional approach that draws support from Iraq's neighbors and includes political and diplomatic efforts, the top U.S. military officer said.
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ممثل الأمين العام للأمم المتحدة يقول في مؤتمر صحفي في بغداد ناخبة عراقية مسنة ترفع اصبعها المضمخ بالحبر البنفسجي بعد ادلائها بصوتها في مركز انتخابي في بغدادفي الصورة مجموعة من الناخبين العراقيين في محافظة النجف يرفعون أصابعهم المضمخة بالحبر البنفسجي بعد ادالسيدة هيرو خان إبراهيم زوجة الرئيس العراقي جلال طالباني تدلي بصوتها في مسقط رأسها في كركوك علما أن جهاز الكترونيبيان تعليمات التصويتسيدة عراقية تتوجه الى المركز الانتخابينساء يرتدين النقاب يدلين بأصواتهن في مركز انتخابي في منطقة الكرادة وسط مدينة بغداد
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