Jordan’s Contractors see New Opportunities in Iraq

By John Lee. Business leaders in Jordan have reportedly welcomed increased access to Iraq’s $88.2-billion reconstruction efforts. According to a report from Jordan Tmes, a recent agreement to grant Jordanian construction contractors equal status to their Iraqi peers was described as “a God-sent miracle” by engineer and board member of the Jordan Construction Contractors Association (JCCA) […]

France Pledges 1bn EUR Loan to Rebuild Iraq

By John Lee. France has reportedly agreed to lend Iraq 1 billion euros to help in the reconstruction efforts. According to Reuters, Foreign Minister Jean-Yves Le Drian announced the agreement to reporters following a meeting on Monday with his Iraqi counterpart Mohammed al-Hakim in Baghdad. The cost of reconstruction in Iraq is estimated at $88 […]

Genel Energy posts strong Trading Update

Genel Energy has issued the following trading and operations update in advance of the Company’s full-year 2018 results, which are scheduled for release on 20 March 2019. The information contained herein has not been audited and may be subject to further review. Murat Özgül, Chief Executive of Genel, said: “2018 was a very positive year […]

Jordan and Iraq plan to Increase Trade

By John Lee. King Abdullah II of Jordan arrives in Baghdad today on an official visit to Iraq for talks with President Barham Salih, and Prime Minister Adil Abd Al Mahdi and senior officials, with a view to strengthening bilateral relations and regional development. According to a report from The Arab Weekly, the two countries […]

WFP helps Modernise Iraq’s Rationing System

WFP supports Iraq in modernising its Public Distribution System The United Nations World Food Programme (WFP) and the Government of Iraq have launched an initiative to digitise the national public distribution system (PDS). The first phase of digitisation will reach nearly 1.3 million people in and around Baghdad and Dohuk. The PDS is Iraq’s biggest […]

GardaWorld Weekly Security Report

GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]

Increased Oil Production planned for Majnoon

By John Lee. Oil production at Majnoon oilfield is reportedly planned to increase from 240,000 barrels per day (bpd) currently to 290,000 bpd by the end of 2019 and 450,000 bpd by the end of 2021. State-owned Basra Oil Company (BOC) took over the field from Shell and Petronas at the end of June 2018, with […]

Turkey appoints Special Envoy for Water Affairs with Iraq

By John Lee. Turkey has reportedly appointed a special envoy to Iraq to resolve the water sharing issues between the two countries. According to Daily Sabah, former Forestry and Water Affairs Minister Veysel Eroğlu (pictured), who will take up the post, pointed to the “inefficient” use of water resources in Iraq, saying “Turkey will share […]

Navistar Wins $8m Iraq Order

US-based Navistar Defense has been awarded an $8,069,336 fixed-firm-price Foreign Military Sales (Iraq) contract for Navistar transport and cargo vehicles. One bid was solicited with one bid received. Work will be performed in Lisle, Illinois, with an estimated completion date of Sept. 8, 2019. (Source: US Dept of Defense)

Lukoil confirms Geological Model for Eridu Field

Russia’s Lukoil has successfully completed testing of the fourth well as part of Eridu field (Block 10) appraisal phase in the south of Iraq. The testing resulted in the commercial flow of dry crude oil that proves the current geological model of Eridu field as effective. ​ Lukoil continues geological exploration at Block 10. For instance, […]

Iraq Stock Market Report

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th January 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD672 (+2.2%) / $723 (+2.0%) (weekly change) (+2.0% and +1.8% YTD change, respectively). The number of week traded […]