By John Lee. Prime Minister Mohammed Shia Al-Sudani has said that Iraq will launch a massive project to produce 10,000 MW of electricity. The project, based on what he described as a "new economic model", is set to be unveiled to the private sector, "after it has been studied by a team of consultants and […]
The United Nations Development Programme (UNDP) has released the Trial Monitoring Report on grand corruption cases across the Kurdistan Region of Iraq, marking a significant milestone in curbing corruption in Iraq. The report highlights substantial progress by the Kurdistan Regional Government (KRG) in combating corruption and offers deep insights into the region's judicial proceedings through […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has initiated the construction of three major power projects in Karbala: a 132 MW combined cycle gas power plant; a 300 MW solar power project; and the 400 kV Karbala transmission substation with a capacity of 1500 MVA. According to a statement from the Prime Minister's […]
The Iraqi Children Foundation (ICF) is pleased to announce five distinguished individuals to headline the 5K as "Honorary Co-Chairs". ICF is grateful to each one in the ways they have lent their voice and support to the cause of Iraq's orphans and most vulnerable kids: His Excellency Nazar Al Khirullah, Ambassador of the Republic of […]
By John Lee. The Ambassador of the Republic of Iraq in Beijing, Mr. Shorsh Khalid Saeed, met with the Chairman of China Council for the Promotion of International Trade (CCPIT), Mr. Chen Xiaofeng and his accompanying delegation, at the Embassy headquarters. According to a statement from Iraq's Ministry of Foreign Affairs, Ambassador Saeed commended the […]
By Charles Kennedy for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Moves to Profit-Sharing Terms in New Oil and Gas Contracts Iraq seeks to attract more investment in its oil and gas industry by moving to profit-sharing contracts for new […]
By John Lee. Iraqi Foreign Minister Fuad Hussein received the Lebanese Ambassador Mr. Ali Al Habhab at the Ministry's headquarters in Baghdad on Tuesday. Among other items, the meeting discussed economic and investment relations and cooperation at various levels; the Lebanese Ambassador indicated that there are about 900 Lebanese companies operating in Iraq, including 600 […]
By John Lee. DNO has announced that it has increased spending in Iraqi Kurdistan during the second quarter of 2024, to optimize production from existing wells at the flagship Tawke license (DNO 75 percent and operator), "raising gross output from the Tawke and Peshkabir fields to an average of 83,500 boepd in the first half […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 15th Aug 2024). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,700.6 -2.7% 9.4% RSISX USD Index […]
By John Lee. Iraq's Ministry of Oil, led by Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani, has signed 13 initial contracts with companies to develop oil fields and exploration blocks as part of the supplementary fifth and sixth licensing rounds. The deals are expected to add 750,000 barrels per day […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq Proposed Oil Overproduction Compensation, Raises Questions Await Answers OPEC Secretariat statement No. 9/2024, dated 24th July 2024, confirms receipt of plans to compensate for "Cumulative overproduction Jan. 2024 to June 2024 […]
By John Lee. The Iraqi government has decided to retain the state's shares in mixed-ownership companies, rejecting any sale of public sector stakes. The Cabinet said its decision on Tuesday was made to prevent losses to the public sector, as the true value of these companies is considered to be much higher than their current […]
