Tanker Struck by Projectile off Southern Iraq
By John Lee. A tanker was reportedly struck by an unknown projectile approximately 30 nautical miles south-east of Al Faw, Iraq. According to the United Kingdom Maritime Trade Operations (UKMTO), the crew are safe and no damage or environmental impact has been reported. UKMTO issued Warning 180-26 on 20 October 2026, noting the report was […]
Iraqi Dinar's Devaluation: Context and Near-term Outlook
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Dinar's Devaluation: Context and Near-term Outlook On October 7th, the Central Bank of Iraq (CBI) devalued the Iraqi dinar (IQD) by 13.3% against the U.S. dollar […]
Gas Processing Plant Opens at Garraf Oil Field
By John Lee. A new associated gas processing and utilisation system (GCS) has been commissioned at the second separation station of the Garraf oil field in Dhi Qar, with an operating capacity of 15 to 22 million standard cubic feet per day (mmscfd). The opening was held under the patronage of Oil Minister Basim Muhammad […]
Iraq Vision 2045: Turning Oil Wealth into a Productive Economy
By Ali Ibrahim Al-Asadi (Ali Zuweid), Founder of Iraq Vision 2045. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Vision 2045: Turning Oil Wealth into a Productive Economy Iraq's economic transformation requires a stronger connection between the wealth it earns today and the […]
ZTE and Mannai Digital Transformation Sign MoU
By John Lee. China's ZTE Corporation has signed a Memorandum of Understanding (MoU) with Mannai Digital Transformation, a regional ICT solutions and services provider, at the 5th Iraq International Telecommunications and Information Technology Exhibition and Conference (ITEX IRAQ 2026). Communications Minister Mustafa Jabbar Sanad attended the signing. The MoU focuses on digital transformation in Iraq, […]
Somalia Seeks Livestock Export Deal with Iraq
By John Lee. Somalia and Iraq have held talks on activating their bilateral joint committee and expanding economic and agricultural cooperation, including the potential launch of Somali livestock exports to Iraq. According to the Ministry of Foreign Affairs of Somalia, the discussions took place on the sidelines of the 52nd OIC Council of Foreign Ministers […]
Visit to Swiss HQ to Review Grain Silos Project
By John Lee. Five grain storage silos are being built across Iraq by Switzerland-based Bühler, covering the provinces of Najaf, Anbar, Muthanna, Wasit, and Kirkuk. Bühler is responsible for the electromechanical works, while Samco is carrying out civil construction. Minister of Trade Mustafa Nizar Jumaa visited Bühler's headquarters in Switzerland, accompanied by Dr Haider Nouri […]
Gulf Keystone and ShaMaran to Merge in $1bn-Plus Deal
By John Lee. Gulf Keystone Petroleum (GKP) and ShaMaran Petroleum have agreed to merge in a transaction valuing ShaMaran's entire issued share capital at approximately $601 million. The deal will create a combined company with a pro-forma market capitalisation of more than $1 billion, focused on oil production in the Kurdistan Region of Iraq and […]
Rafidain Bank to Expand Loans and Private Sector Financing
By John Lee. Rafidain Bank has been directed to launch employee loans, streamline application procedures, and expand financing for the private sector. Finance Minister Faleh Sari issued the instructions during a visit to the bank on Monday, where he chaired a meeting with Director General Dr. Ali Karim and senior officials. During the visit, Sari […]
Iraq's Oil Exports "Rise to 3.4m bpd"
By John Lee. Iraq's oil export rate has reportedly risen to more than 3.4 million barrels per day (bpd) in the current month, up from an average of 3 million bpd recorded in September. Exports are being routed via the Strait of Hormuz, the Turkish port of Ceyhan, and through pipeline infrastructure via Syria. Minister […]
Leadership Change at Iraq Securities Commission
By John Lee. Dr Mazen Sabah Ahmed has taken over as chairman of the Iraq Securities Commission (ISC), replacing Faisal Al-Haimas following a formal handover ceremony. Al-Haimas congratulated his successor and commended his banking experience and professional qualifications. (Source: Iraq Securities Commission)
Iraq Plans 16 New LPG Storage Tanks
By John Lee. Iraq is planning to build 16 new liquefied petroleum gas (LPG) storage tanks with a combined capacity of 48,000 cubic metres, as part of efforts to expand strategic reserves and improve supply stability. According to the Ministry of Oil, a senior review meeting was chaired by Dr Izzat Sabir Ismail, Deputy Minister […]