TotalEnergies Investment in Iraq to Rise to $16bn
By John Lee. Patrick Pouyanné, chief executive of TotalEnergies, met Iraqi Prime Minister Ali al-Zaidi in Paris on Monday to review the company's strategic projects in Iraq, with a particular focus on gas. According to the Prime Minister's media office, TotalEnergies has existing oil investments in Iraq of $12 billion and is planning to increase […]
Rothschild Bank President Meets Iraqi PM in Paris
By John Lee. Iraq's Prime Minister Ali al-Zaidi met with Édouard de Rothschild, President of Rothschild & Co, in Paris on Monday to discuss expanding Iraq's cooperation with international banks, developing the banking sector, improving Iraq's credit rating, and the government's targets for building a diversified economy. De Rothschild affirmed the importance of investment opportunities […]
IBBC meets Business Leaders in Basra
From the Iraq Britain Business Council (IBBC). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. IBBC visit Basrah with focus on Maritime, Chambers and member engagement. The IBBC Iraq team of Colin Findlay, Ali Mazhkour, Dr Ali Jawad visited Basra to convene IBBCs Maritime […]
750MW Solar Plant Planned for Samawah
By John Lee. Work is under way to accelerate construction of the Samawah solar power station in southern Iraq [Muthanna], to be built in two phases with a combined capacity of 750MW. The project is being carried out by Power Construction Corporation of China (PowerChina). According to Iraq's Ministry of Electricity, the first phase will […]
IBBC discusses Investment Partnerships with Iraqi FM
By John Lee. A delegation from the Iraq Britain Business Council (IBBC), led by Baroness Emma Nicholson, has met with Finance Minister Faleh Sari to discuss investment opportunities in Iraq and the potential for expanding economic partnerships between the two countries. The delegation included a number of Iraqi and British companies. According to the Ministry […]
New Pesticide Plant Opens in Anbar
By John Lee. A new agricultural pesticide factory has opened in the Karma Island area of Anbar province. The Al-Tariq factory is affiliated with the General Company for Pharmaceutical Industries and Medical Supplies in Samarra, and was developed in partnership with a private-sector Iraqi pharmaceutical company, with support from specialist international firms. The factory comprises […]
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, […]