KAR Signs 25-Year Deal for Ajeel Field
By John Lee. KAR Electrical Power Production Trading FZE (KEPPT), a sister company of Erbil-based KAR Group, has signed a 25-year contract with the North Oil Company (NOC) for the development and operation of the Ajeel oil field. According to the Ministry of Oil, the contract aims to increase gas production at the field from […]
Chevron Signs Advisory Agreement with Basra Oil Company
By John Lee. A technical advisory agreement has been signed between Iraq's Ministry of Oil and Chevron to support Basra Oil Company (BOC) during negotiations related to the development of the West Qurna 2 oil field. The agreement was signed on Sunday under the auspices of Oil Minister Basim Muhammad Khudhair al-Abadi. The signing was […]
IFC Names New Division Director for Levant, Iraq and Yemen
By John Lee. The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has appointed Thomas Jacobs as Division Director for the Levant, Iraq, and Yemen. He succeeds Khawaja Aftab Ahmed, who held the role for four years. Based in Amman, Jacobs will lead IFC's work across Jordan, Lebanon, Syria, Iraq, Yemen, […]
Iraq Oil Exports to Hit 3m bpd in September
By John Lee. Iraq's oil exports are running at around 3 million barrels per day (bpd) in September, with plans to increase pipeline export capacity through Syria and Turkey's Ceyhan port by more than 1 million bpd. Minister of Oil Basim Muhammad Khudhair al-Abadi told the state-run Iraqi News Agency (INA) that Iraq remains within […]
34MW Hydroelectric Scheme Planned for Garmian
By John Lee. Construction is under way on the Bawanur Dam project in the Garmian District of the Kurdistan Region. The project is designed to strengthen water security, support agriculture and environmental protection, and generate electricity. Overseen by the Kurdistan Regional Government's (KRG) Ministry of Agriculture and Water Resources, the dam is an embankment structure […]
Plan for National AI Infrastructure in Iraq
By John Lee. Plans to develop a national artificial intelligence (AI) infrastructure in Iraq have been discussed by the Communications and Media Commission (CMC) and an adviser to the Prime Minister. According to the CMC, Baligh Abu Kalal, head of the CMC, met with Dr Diya Al-Jumaili, adviser to the Prime Minister for AI affairs, […]
SalamAir to Launch Baghdad-Copenhagen Route
By John Lee. SalamAir is to begin flights between Muscat and Copenhagen via Baghdad, from 14th November. The Omani low-cost carrier says passengers in Iraq can book flights directly between Baghdad and the Danish capital. (Source: SalamAir)
Iraq "Drains $16bn from Reserves after Oil Revenues Slump"
By Nadim Kawach, for Arabian Gulf Business Insight (AGBI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq Drains $16bn from Reserves after Oil Revenues Slump Iraq's foreign-currency reserves fell by nearly $16 billion in four months this year as the government tapped […]
New Egyptian Ambassador to Iraq
By John Lee. Ahmed Hussein Khafaji has presented a copy of his credentials as Egypt's new ambassador to Iraq. Foreign Minister Fuad Hussein received him at the Ministry's headquarters in Baghdad on Wednesday. During the meeting, both sides affirmed the strength of bilateral relations and expressed a commitment to developing cooperation between the two countries. […]
"Depositor Outrage" over Guardianship of Al-Taif Islamic Bank
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Depositor Outrage as Iraqi Authorities Place Private Bank under Guardianship The Iraqi banking sector is coming under renewed scrutiny following the Central Bank of Iraq's (CBI) decision to place the private Al-Taif Islamic […]
Can Iraq Really Replace Saudi as ME's Top Oil Producer?
By Alex Kimani, for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Can Iraq Really Replace Saudi Arabia As The Middle East's Top Oil Producer? The global power of most Middle Eastern countries remains dependent on their oil and/or gas output, so it […]
Five One Labs 2025 Annual Report
By John Lee. Five One Labs (51 Labs) has published its annual report for 2025, its final full year of operations in Iraq. The report outlines a final year of pilot programmes before the closure, with initiatives spanning Kurdish-language incubation, climate resilience, digital skills and social entrepreneurship. In 2025, the organisation identified several trends shaping […]