"No Further Legal Challenge" in Bina Bawi Dispute
By John Lee. Genel Energy has confirmed that there will be no further legal challenge in its dispute with the Kurdistan Regional Government (KRG) regarding the Bina Bawi field. In April, the company announced that its subsidiary, Genel Energy Miran Bina Bawi Limited (GEMBBL), has been ordered by the London Court of International Arbitration (LCIA) […]
Genel Energy issues Results to 30th June
By John Lee. Genel Energy today reported unaudited results for the period ended 30 June 2026: Full statement from Genel Energy: Unaudited results for the period ended 30 June 2026 Paul Weir, Chief Executive of Genel, said: "We remain firmly focused on delivering our clearly stated strategic objectives and in this period, we have demonstrated […]
Iraq Discusses Hormuz Shipments with Iran
By John Lee. An Iraqi delegation has reportedly held talks with Iran on the smooth passage of oil tankers through the Strait of Hormuz, with expectations of reaching an understanding within the coming days. Minister of Oil Basim Muhammad Khudhair al-Abadi told the state-run Iraqi News Agency (INA) that the government's approach is based on […]
KRG's 'Gashanawa' Project to Support 100 SMEs
By John Lee. The Kurdistan Regional Government (KRG) has launched the second phase of the Gashanawa [Shine] Project, which will provide financial support of between IQD 1 million ($763) and IQD 150 million ($114,500) to 100 small and medium-sized enterprises in the agricultural and industrial sectors. According to the KRG's Department of Media and Information, […]
Iraqi Court Recovers $15m in Corruption Case
By John Lee. An Iraqi court has recovered IQD 20 billion (USD 15.3 million) in a financial and administrative corruption case. According to the Supreme Judicial Council (SJC), the funds were recovered by the Rusafa Investigation Court, which specialises in integrity and money-laundering cases, in connection with offences including financial fraud. (Source: Supreme Judicial Council)
OPEC+ to Increase Output by 188,000 bpd in September
By John Lee. Seven OPEC+ member countries have agreed to implement a production adjustment of 188,000 barrels per day (bpd) from their additional voluntary cuts, effective September 2026. The decision was taken at a virtual meeting on Saturday, which was attended by Iraq's Ministry of Oil. The seven countries involved are Saudi Arabia, Russia, Iraq, […]
KRG Reports on Progress of Projects
By John Lee. The Kurdistan Regional Government (KRG) has issued its official data report for projects undertaken by its Ninth Cabinet (2019-2026), including official data for the following sectors: Banking System Electricity Infrastructure Employment Opportunities Environment Electricity Infrastructure Food Security Investment Public Services Reform Road Infrastructure Society and Government The Kurdistan Region's Global Standing Water Security […]
Iraq-Turkey Roundtable on Trade and Investment
By John Lee. An Iraqi-Turkish roundtable meeting has taken place in Baghdad, focused on strengthening economic and trade relations between the two countries. The meeting was chaired by Prime Minister Ali al-Zaidi and attended by a large number of Turkish business representatives, as well as a government delegation that included Minister of Trade Mustafa Nizar […]
Chevron's Bold Moves in Iraq "Will Reshape the Oil Stock"
By Reuben Gregg Brewer, for The Motley Fool. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Prediction: Chevron's Bold Moves in Iraq Will Reshape the Oil Stock Over the Next Decade Chevron has just agreed to something that could make geopolitical conflict in the […]
Iran War "Has Cost Iraq $45bn"
By Mustafa Saadoon, for Alhurra. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Exclusive: Iran War Has Cost Iraq $45 Billion Official sources said that collapsing oil exports and stalled development projects have inflicted massive losses on the country as Baghdad bets on deeper […]
DP World "Eyes Iraq Trade" with Syrian Port Overhaul
By Tala Michel Issa, for Arabian Business. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. DP World Eyes Iraq, Jordan and Turkey Trade through Syria's $800m Tartous Port Overhaul DP World sees Syria's Port of Tartous becoming a logistics gateway to Iraq, Jordan, […]
Iraqi Airways to Resume Baghdad-Moscow Flights
By John Lee. Iraqi Airways is to resume flights between Baghdad and Moscow on Tuesday, following a five-month suspension. According to the Ministry of Transport, the service will operate twice weekly, on Saturdays and Tuesdays, beginning on Tuesday 4th August 2026. Flights were suspended for security reasons following an escalation of conflict in the region […]