Franchises as an Investment: Risks, Rewards and Returns
By Joel Bissitt. Franchises as an Investment: Risks, Rewards and Returns Investing in a franchise can be a very lucrative investment opportunity, but it can come with a hefty initial investment cost. On the other hand, franchises can prove to be fantastic investments for people who want to become business owners without having to reinvent […]
Gas Processing Unit Opens at East Baghdad South Field
By John Lee. A new gas processing unit with a capacity of 30 million standard cubic feet per day (mmscfd) has opened at the East Baghdad oil field (southern section). According to the Ministry of Oil, processed gas from the unit will be fed directly to the Bismaya power station via a pipeline constructed by […]
Fraud Network Hid Ownership of 170 Properties
By John Lee. A fraud network that purchased more than 170 properties in Babylon and Baghdad and registered them in the names of others has been dismantled, with all nine suspects arrested. The properties, which include state-owned and agricultural land, are estimated to be worth tens of billions of Iraqi dinars (hundreds of millions of […]
New Wave Offshore Energy Wins Contract for AGUP Phase 2
By John Lee. Sinopec (China Petroleum & Chemical Corporation) has awarded a Marine Warranty Survey (MWS) contract to New Wave Offshore Energy in support of the Associated Gas Upstream Project (AGUP) Phase 2 in southern Iraq, part of the Gas Growth Integrated Project (GGIP) operated by TotalEnergies alongside its partners Basra Oil Company (BOC) and […]
Private Banks League discusses Banking Reform with Parliament
By John Lee. Iraq's parliamentary Finance Committee has held a workshop with the Iraqi Private Banks League (IPBL) to discuss the state of the banking sector and mechanisms for its development. The session was chaired by MP Uday Awad and attended by Ali Tariq Mustafa, Executive Director of the IPBL, along with a delegation of […]
New Automotive Facility Opens in Erbil
By John Lee. A new automotive facility for the OMODA and JAECOO brands has opened in Erbil, bringing sales, after-sales, spare parts and customer support under one roof. The site is operated by Jameel Motors Iraq, the official distributor of both Chinese brands in the country. The facility occupies approximately 9,000 square metres and includes: […]
Oil Squeeze "Pushes Iraq Towards Toughest Budget in Decades"
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. Oil Squeeze Pushes Iraq Towards Toughest Budget in Decades Iraq faces its toughest budget challenge in more than two decades as a sharp fall in oil […]
Gas Investment Plans Reviewed for Nahr Bin Umar Field
By John Lee. Plans to develop associated gas investment at the Nahr Bin Umar oil field in Basra province were reviewed at a meeting chaired by Dr. Izzat Sabir Ismail, Deputy Minister of Oil for Gas Affairs. According to the Ministry of Oil, the meeting was attended by representatives of South Gas Company, the Planning […]
Iraq Clarifies September Export Figures
By John Lee. Iraq's crude oil exports have averaged around 2.6 million barrels per day (bpd) during September, according to the Ministry of Oil, which issued a clarification following media reports suggesting exports had reached 4 million bpd. The Ministry stated that the 4 million bpd figure reflected a single day's exports, driven by a […]
New Import Controls and Export Drive from Min of Trade
By John Lee. Iraq's Ministry of Trade has outlined plans to tighten import controls and expand the reach of Iraqi goods into regional and international markets. Mohammed Hannoun, the ministry's official spokesman, told the state-run Iraqi News Agency (INA) that the ministry is working to regulate the import process in line with legal frameworks, balancing […]
Public Consultation on Non-Terrestrial Telecoms
By John Lee. Iraq's Communications and Media Commission (CMC) has published a draft regulatory framework for licensing telecommunications services on non-terrestrial networks, including in-flight connectivity (air-to-ground, A2G), and opened it for public consultation. The draft aims to establish technical and regulatory standards for such services, covering efficient use of radio spectrum and compliance with approved […]
Iraq Holds Separate Trade Talks with US and Iran
By John Lee. Iraq's Ministry of Trade held separate meetings on Sunday with the US chargé d'affaires in Baghdad and the Iranian commercial attaché, covering ways to strengthen bilateral economic and trade relations with each country. Trade Minister Mustafa Nizar Jumaa received Steven Fagin, the US chargé d'affaires, to discuss expanding American companies' participation in […]