Iraq to Build 5 New Refineries

By John Lee. The Iraqi Ministry of Oil has reportedly announced that it will select a number of international investment companies to build five new refineries around the country: Kirkuk with a capacity of 70,000 barrels per day (bpd); Wasit capacity of 140,000 bpd; Nasiriyah capacity of 140,000 bpd; Basra card 140,000 bpd; and al-Faw […]

Ninewa Investment Forum

The Ninewa Investment Forum is taking place from 3rd to 5th December in Erbil. This two-day event will showcase investment-ready businesses to private investors from around the world. Presenting a portfolio of very attractive investment opportunities will spark a virtuous cycle of both exciting project opportunities and increased investor confidence. The event is organized by […]

More New Investment Opportunities in Iraq

By John Lee. The National Investment Commission (NIC) has announced the following investment opportunities: Manufacturing small arms – State Company for Military Industries Manufacturing medium arms – State Company for Military Industries (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)

New US Contribution to Health Services in Iraq

The World Health Organization (WHO) welcomes a new contribution of US$24 million from the US Agency for International Development’s Office of Foreign Disaster Assistance (USAID-OFDA) to strengthen primary, secondary and preventive health services in conflict-affected governorates in Iraq. Access to improved life-saving health services will be ensured for approximately 3.5 million beneficiaries in seven governorates […]

Iraqi Protesters Block Major Port

By John Lee. Protesters in Iraq have reportedly blocked the country’s second-largest commercial port on Tuesday. According to Fox News, they halted operations at the Khor al-Zubair port as oil tankers and other trucks were unable to enter or exit. They have also obstructed access to Umm Qasr port. (Source: Fox News)

GKP appoints new Chief Financial Officer

By John Lee. Gulf Keystone Petroleum (GKP) has announced the appointment of Ian Weatherdon as Chief Financial Officer (“CFO”). Mr Weatherdon has over 25 years’ experience in the international oil and gas industry and joins GKP from Sino Gas & Energy Holdings Limited where he was CFO.  Sino Gas is an energy company focused on […]

KCA Deutag Wins Contract Extension in Iraq

By John Lee. ​Scottish-based KCA Deutag has announces that its land drilling operation has won new contracts in the Middle East, Africa and Europe. In Iraq, two of the company’s rigs have had their contracts extended by one year. KCA Deutag currently has three rigs in Iraq. (Source: KCA Deutag)

Leaked Iran Spy Docs reveal Grip on Iraq

Leaked Iran spy documents reveal extent of grip on Iraq Ground-breaking documents detailing staggering evidence of Iran’s espionage operations, bribery payments and efforts to expand influence within Iraq have been leaked to the US-based media organisation The Intercept in collaboration with the New York Times. Together they reveal the huge extent of Iran’s grip on […]

Al-Burhan Group acquires BIAP Hotel

Al-Burhan Group has taken over the management of Baghdad International Airport Hotel in a joint partnership with the Iraqi Civil Aviation Authority (ICAA). The hotel consists of 100 rooms, a fitness centre with sauna and steam room, the hotel also benefits from having a conference Centre, meeting rooms, exhibition space, large landscaped gardens and ample […]

Iraq Falls in Doing Business Index

By John Lee. Iraq has been ranked 172nd out of 190 countries in the World Bank‘s recent Doing Business 2020 report, down from 171st place the previous year. Top of the list were New Zealand, Singapore and Hong Kong, with last place going to Somalia, just behind Eritrea and Venezuela. Iran ranked 127th, with Libya […]

The Future of Iraq’s Oil Is Russian

By Vera Mironova and Mohammed Hussein, for Foreign Policy. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. With ongoing protests making other investors nervous, Moscow is charging ahead. Despite ongoing protests in Baghdad, which have seen the departure of many foreign diplomats for […]