Iraqi Compliance with Iran Sanctions will “Damage Iraq’s Economy”

By John Lee. A former under-secretary at Iraq’s Ministry of Finance has said that  ministry has said that US sanctions on Iran will impact trade activity between Iraq and Iran and, should they persist, they will damage Iraq’s economy. Fadhil Nabi told Rudaw: “America’s sanctions on Iran will have impact on trade exchange and activity […]

Deloitte report on Kurdistan Oil and Gas – New Data

Third Deloitte report on Oil and Gas Review in the Iraqi Kurdistan Region, with newly added disclosures on local sales – Q1 of 2018 New verified data on the Kurdistan Region’s oil exports, consumption and revenues have been published, covering the period from 1 January 2018 to 31 March 2018, after a review of the […]

Defeat-IS Forces Make Progress, Require Continued Support

Defeat-ISIS Forces Make Progress, Require Continued Coalition Support Forces battling the Islamic State of Iraq and Syria continue to make progress. However, the environment in Iraq and Syria is complex and the defeat-ISIS forces require continued support, coalition officials said today. Army Col. Sean Ryan, the spokesman for Operation Inherent Resolve, spoke to Pentagon reporters […]

Video: PM Abadi Visits Turkey

By John Lee. During his official visit to Turkey, Prime Minister Haider Al Abadi has underscored the importance of cooperation between Iraq and all neighbouring countries for the peace and security of the people of the region. His statement can be viewed here: (Source: Govt of Iraq)

Petrofac awarded Basra Oil Company EPC Contract

Petrofac has been awarded a contract worth around US$370 million by Basra Oil Company (BOC) for expansion of the Central Processing Facility (CPF), located in the Majnoon Field, Southern Iraq. Under the terms of the 34-month contract, the lump-sum engineering, procurement and construction (EPC) project scope of work includes two oil processing trains, able to […]

Iraq, Jordan consider Joint Industrial Zone

Jordanian Prime Minister, Omar Razzaz, on Monday met with Iraqi Defence Minister, Irfan Hayali, to discuss the Jordanian-Iraqi relations. Razzaz underlined the depth of the historic Jordanian-Iraqi relations and the keenness to enhance joint cooperation to serve the interests of both countries and their peoples. The premier also pointed to the directives of His Majesty […]

German Companies Encouraged to Invest in Kurdistan

Prime Minister Nechirvan Barzani received the new Consul General of Germany to the Kurdistan Region, Ms. Barbara Wolf and her accompanying delegation. In the meeting, which was also attended by Kurdistan Regional Government’s representative in Germany, Mr. Dilshad Barzani, Consul General Wolf thanked the KRG for its assistance to the German Consulate General in Erbil. […]

Will Riyadh-Tehran Rivalry kill Kurdistan Investment Drive?

By Fazel Hawramy for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  Will Riyadh-Tehran rivalry kill Iraqi Kurdistan’s investment drive? Iraqi Kurdistan, facing an acute financial crisis, has a newfound opportunity to attract desperately needed foreign investment from Saudi Arabia, but regional tensions between Tehran and Riyadh […]

SOMO Does Not Work This Way

By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Below is the full Arabic text and source of what was reportedly said by Abdul Alal AL-Yassiry, the Chairman of the Iraqi Centre for Economic and Investment Consultation in Karbala. What prompts […]

Siemens to Upgrade Shatt Al Basra Power Plant

Germany’s Siemens will upgrade one of the country’s largest gas-fired power plants. Under a new contract, Siemens will add 650 megawatts (MW) to Shatt Al Basra Gas Power Plant, which currently has a power generation capacity of 1,250 MW and consists of non-Siemens turbines operating in simple-cycle mode. Siemens will supply five of its highly-efficient […]