ERBIL, Kurdistan Region - Low trust in Iraq’s banking institutions has prevented residents from depositing their cash into their bank accounts with an overwhelming 80 percent of cash being kept in households, an advisor to the Iraqi prime minister said on Wednesday. “Because people’s confidence in dealing with the banking institutions is very weak, only about 20 percent of t
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Mosul – A dig in northern Iraq has unearthed a 2,700-year-old alabaster sculpture of the winged Assyrian deity Lamassu, which was found largely intact despite its large dimensions. Only the head was missing and that was already in the collection of the Iraq Museum in Baghdad after being confiscated by customs officers from smugglers in the 1990s, the dig’s French leader Pasc
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Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil announced on Wednesday that oil export revenues through September surpassed $9.42 billion. According to final statistics issued by the State Organization for Marketing of Oil (SOMO), the total exports of crude oil during September were more than 103.14 million barrels, with revenues exceeding $9.42 billion. SOMO data rev
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A project to build a subsea pipeline in the Southern Iraqi oil hub of Basra will boost the Arab country’s crude exports to more than 5 million barrels per day (bpd) by 2025, the Director of state-run Basra Oil Company (BOC) was quoted on Tuesday as saying. The pipeline will have a capacity of nearly 2 million bpd and is expected to be completed after 400 days, Bassim Shamkha
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ERBIL, Kurdistan region - Iraq pocketed over $9 billion in crude oil sales in the month of September, the country’s highest in monthly oil revenue since August last year. In its preliminary monthly report on Tuesday, Iraq’s oil ministry said that the country exported more than 103 million barrels of crude oil in the previous month, at a rate of 3.4 million barrels per day, a
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