Shaikan Oil Production Temporarily Suspended; GKP Shares Fall
By John Lee. Gulf Keystone Petroleum (GKP) has announced that production operations at its Shaikan oil field in the Kurdistan Region of Iraq have been temporarily shut in as a safety precaution, citing the developing regional security environment. The company said its assets have not been impacted and that the latest gross production figure was […]
Iraq Signs 48 Deals with US Firms
By John Lee. Iraq has signed 48 agreements, memoranda of understanding (MoUs) and partnership declarations with US public and private sector entities spanning the oil, electricity, technology, finance and agriculture sectors. According to Iraq's Prime Minister's Office (PMO), the signing ceremony took place on Friday evening Baghdad time under the auspices of Prime Minister Ali […]
Floating Gas Terminal Deal Agreed for Khor al-Zubair
By John Lee. A floating gas platform project at Khor al-Zubair is set to proceed. following a meeting in Washington between Prime Minister Ali al-Zaidi and the chief executive of US-based Excelerate Energy. In October, the Ministry of Electricity and Excelerate Energy agreed on a floating storage and regasification unit (FSRU) with a capacity of […]
AKT Wins EPC Contract for Gas Recovery at West Qurna 1
By John Lee. An EPC (engineering, procurement and construction) contract has been signed for a low-pressure gas recovery project at Gas Compression Station 6 in the West Qurna 1 oil field. According to Basra Gas Company (BGC), the contract has been awarded to Abraj Al-Kut Oil Services Company (AKT). The project aims to recover associated […]
New Limestone and Oil-Well Cement from Basra Plant
By John Lee. The Basra cement plant has begun producing two new cement types: limestone cement and oil-well cement. The plant is operated by the General Company for Iraqi Cement, a subsidiary of the Ministry of Industry and Minerals. The limestone cement is manufactured to Iraqi standard specifications and is suitable for finishing and plastering […]
$105m Water Project Completed in Barzan Region
By John Lee. A water infrastructure project serving 53 villages in the Barzan region of the Kurdistan Region of Iraq has been completed at a cost of IQD 138.5 billion (USD 106 million). According to the Kurdistan Regional Government (KRG), the project supplies clean drinking water to more than 35,000 residents. The project draws water […]
New Geely Showroom Opens at Baghdad Mall
By John Lee. A new showroom for China's Geely cars has opened at Baghdad Mall in Al-Harthiya. Operated by Tareeq Al Majal, it will offer the Coolray and Emgrand models alongside after-sales support and parts. The company, a joint venture between Iraqi conglomerate Al Majal Group and Al-Markazia, an automotive group headquartered in Jordan, became […]
JP Morgan Branch to Open in Iraq
By John Lee. An agreement has been reached to open a branch of JP Morgan in Iraq to finance projects implemented by American companies. The deal was agreed during a meeting in Washington between Prime Minister Ali al-Zaidi and representatives of the bank. Earlier this month, we reported that KAR Electrical Power Plant Production Trading […]
Iraqi Banks Set for Return to International Correspondent Channels
By John Lee. Seven Iraqi banks have been cleared to re-enter non-dollar international correspondent banking channels, following high-level meetings between the governor of the Central Bank of Iraq (CBI) and officials at the US Treasury. The meetings followed Prime Minister Ali al-Zaidi's official visit to the United States and his meeting with the US President. […]
Iraq-IMF Talks on Economic Reform and Diversification
By John Lee. Iraqi Prime Minister Ali al-Zaidi has met International Monetary Fund (IMF) Managing Director Kristalina Georgieva in Washington on Saturday to discuss Iraq's economic outlook and the prospects for cooperation between the two parties. According to the Prime Minister's Office (PMO), talks covered economic and financial reform policies, efforts to achieve sustainable growth, […]
EBRD Meets Iraq Ministry of Communications over Telecoms Partnership
By John Lee. Iraq's Ministry of Communications has held talks with a delegation from the European Bank for Reconstruction and Development (EBRD) to explore areas of cooperation in infrastructure and public services. The meeting, chaired by the Ministry's technical adviser Bassam Salem Al-Zaidi, was attended by the directors general of the General Company for Telecommunications […]
Solar Power Station for Arab Oil Training Institute
By John Lee. A hybrid solar power station has been installed and commissioned at the Arab Oil Training Institute in Iraq. The project was carried out by Al-Zawraa State Company, a subsidiary of the Ministry of Industry and Minerals. The station has a capacity of 120 kilowatts and a lithium battery storage capacity of 122 […]