Baghdad, Iraq- Iraq’s oil exports surpassed 103 million barrels in January, marking a strong start to the year. The Oil Ministry released official data on Wednesday, revealing detailed export figures. The report highlights Iraq’s continued role as a major crude supplier in global markets.
According to the State Organization for Marketing of Oil (SOMO), total crude oil exports reached 103,343,193...
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...
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...
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- Oil prices fell in Asian markets on Monday, extending losses from the previous week, as expectations of resumed exports from Kurdistan’s oilfields weighed on the market. Investors also awaited further developments in negotiations related to the ongoing Russia-Ukraine conflict.
Brent crude futures dropped by 14 cents, or 0.2%, reaching $74.29 per barrel by 0441 GMT, while US West...
Oil prices rose slightly on Wednesday due to concerns about potential disruptions in oil supply from the U.S. and Russia, while markets await updates on the ongoing peace talks related to Ukraine.
Brent crude futures increased by 14 cents, or 0.2%, reaching $75.98 a barrel at 0450 GMT, marking a potential third consecutive day of gains. Meanwhile, U.S. West Texas...
Baghdad, Iraq- The Central Bank of Iraq (CBI) recently concluded its first quarterly meetings of 2025 with key representatives from the US Treasury Department and the Federal Reserve Bank. Held in Dubai, UAE, the sessions also included participation from leading international auditing and consulting firms such as EY (Ernst & Young), K2 Integrity, and Oliver Wyman, highlighting the collaborative...
Baghdad, Iraq- Iraq’s Minister of Oil, Hayan Abdul Ghani, reaffirmed the government's dedication to investing in the gas sector as a crucial factor for driving the country’s economic and industrial development. Speaking at the Iraq Britain Business Council (IBBC) Baghdad Conference on Monday, Abdul Ghani highlighted significant strides made in Iraq's oil and gas industries.
He outlined key achievements, including:
An...
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...
Iraq, Baghdad– The price of Iraq’s Basrah Medium crude saw an increase in January, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC).
OPEC’s monthly report indicated that the average price of Basrah Medium stood at $77.98 per barrel in January, up from $71.87 in December. This marks a rise of $6.11, or 8.5%.
The report...