Baghdad, Iraq- Basrah Heavy and Basrah Medium crude prices dropped sharply on Thursday, falling by more than 3%. This decline came as global oil prices showed slight gains, highlighting the ongoing volatility in the market.
Basrah Heavy crude fell by $2.89, or 3.88%, bringing its price down to $71.56 per barrel. At the same time, Basrah Medium crude also dropped...
Erbil, Kurdistan Region – Iraq’s Oil Minister, Hayyan Abdul Ghani, confirmed on Thursday that Baghdad is considering the possibility of exporting oil from the southern Basra province to Turkey via the Iraq-Turkey pipeline. Discussions are also ongoing regarding the resumption of Kurdish oil exports.
At the helm of the Iraqi-Turkish Committee meeting, Minister Abdul Ghani discussed the “imminent activation of...
Baghdad, Iraq- Prime Minister Mohammed Shia al-Sudani presided over the regular meeting of the Higher Committee for Reconstruction and Investment. During the meeting, the committee reviewed the status of ongoing investment projects. They also assessed the progress made in advancing investment opportunities across Iraq, particularly in the capital, Baghdad.
The meeting resulted in the adoption of several key decisions aimed...
Baghdad, Iraq- The Iraqi Central Bank (CBI) reported total US dollar sales of $293,340,631 during its currency auction on Sunday. The bank facilitated these transactions at a base exchange rate of 1,310 IQD per dollar for documentary credits, international settlements of electronic cards, and foreign transfers. Meanwhile, the exchange rate for cash transactions stood at 1,305 IQD per dollar.
Most...
Baghdad, Iraq- Iraq's Minister of Oil, Hayan Abdul Ghani Al-Sawad, held a meeting on Sunday with Elbrus Kutrashev, the Russian Ambassador to Baghdad, along with a delegation from Russia’s OMK Group. The discussions centered on expanding bilateral cooperation between Iraq and Russia in the oil, gas, and energy sectors.
The Russian delegation, representing OMK Group, which is one of Russia's...
Baghdad, Iraq- The banking sector in Iraq experienced significant loan growth in the last quarter of 2024. The Central Bank of Iraq (CBI) reported a 5.4-percent increase in loans and advances, reaching IQD 64.12 trillion ($49 billion). This marked a rise from IQD 60.81 trillion in the same period of 2023.
This expansion highlights the growing demand for financial support....
Baghdad, Iraq- Russia confirmed that its energy investments in Iraq have reached $19 billion, strengthening its economic ties with the country. Officials highlighted the growing cooperation between Russia and Islamic nations, including Iraq, ahead of the Kazan Forum 2025.
The 16th International Economic Forum “Russia – Islamic World: Kazan Forum” will take place from May 13 to 18. This platform...
Iraq's Federal Commission of Integrity (COI) has called on member states of the United Nations Convention Against Corruption (UNCAC) to strengthen legal cooperation in recovering stolen assets and illicit funds. The commission emphasized that these funds are crucial for national development and reconstruction efforts.
Iraq Pushes for Asset Recovery
During a meeting with Swiss Ambassador Daniel Hunn, COI Chairman Dr. Mohammed...
Prime Minister Mohammed S. Al-Sudani announced five major initiatives aimed at empowering women during the National Day of Iraqi Women celebration on March 3. These programs focus on leadership, security, and economic inclusion, aligning with the government’s broader commitment to strengthening women’s roles in society.
The Prime Minister unveiled the Third National Plan for Women, Peace, and Security (2025-2030) to boost women’s...
Baghdad , Iraq- gold reserves experienced a significant increase in the fourth quarter of 2024, marking a 45.1% rise compared to the same period in 2023. The Central Bank of Iraq (CBI) announced this surge on Sunday, attributing the growth to both rising gold prices and an increase in holdings.
According to the CBI, Iraq’s gold reserves climbed from 12.29 trillion dinars...