By John Lee. The Khurmala oil field, located in the Makhmour district west of Erbil province, was struck by two unidentified drones at approximately 8:30 PM on Monday, 14 July 2025. According to the Joint Operations Command's Security Media Cell, there were no human casualties, with the damage limited to material losses. Authorities have initiated […]
By John Lee. HKN Energy has confirmed an explosion occurred early on Tuesday morning at one of its production facilities in the Sarsang field, located in the Kurdistan Region of Iraq. The incident took place at approximately 7:00 AM local time on 15 July 2025. According to the company, all personnel have been safely accounted […]
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has welcomed it described as renewed and intensified negotiations between the Kurdistan Regional Government (KRG) and the Government of Iraq (GoI) aimed at resuming oil exports via the Iraq-Türkiye Pipeline (ITP). The statement follows a high-level meeting held on 12th July 2025 between […]
By John Lee. The Iraqi Ministry of Communications has announced internet penetration reaching 82.9 percent of the population by the end of 2024, up from just 44.3 percent in 2019, according to official data from the International Telecommunication Union (ITU). Key components of the Ministry's strategy include the rapid expansion of the FTTH (Fibre to […]
By John Lee. The MENA Fintech Association (MFTA) has launched its Iraq Chapter, according to a report from Arqam. It says it has appointed Iraqi-Canadian entrepreneur Bahaa Abdul Hadi, co-founder of International Smart Card (ISC) and architect of Iraq's Qi Card biometric payment solution, as the Chairperson. "The future of Iraq is digital, and fintech […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has underscored the importance of ensuring that new residential cities meet the needs of citizens, during a site visit to the under-construction Al-Jawahiri City (pictured), west of Baghdad. The Prime Minister inspected the project, launched in December 2023, as part of his government's housing initiative. He […]
By John Lee. In a follow-up to last week's report on the state of the Iraqi economy, the International Monetary Fund (IMF) has issued a new 19-page report titled: "Unlocking Iraq's economic potential: The role of structural reforms in boosting medium-term non-oil growth." Click here to download the full report. To browse our comprehensive library […]
By John Lee. A new report from the International Monetary Fund (IMF) has said that the restructuring of state-owned banks (SOBs) can foster the development of the private sector and improve growth. It adds: "Strengthening the financial sector can support private sector credit, fostering investment and growth. "To this end, the authorities are finalizing a […]
By John Lee. Iraq's Minister of Industry and Minerals, Professor Khaled Battal Al-Najm, has instructed the development of modern, environmentally friendly cement plants in the Badoush and Hammam Al-Alil complexes in Nineveh province. These new facilities will replace outdated plants built in the 1950s that still use the wet process. During his visit to the […]
By John Lee. In a landmark move to protect Iraq's agricultural legacy and strengthen its food security, the foundation stone has been laid for the country's first-ever Gene/Seed Bank, located in Hawari Shar Park, Sulaymaniyah. The facility is being funded by the European Union (EU) and implemented by the Food and Agriculture Organization of the […]
By John Lee. The Council of the European Union has appointed Ralf Schröder (pictured) as the new head of mission for the European Union Advisory Mission in Iraq (EUAM Iraq). He will take up his duties on 16th August 2025. According to a statement: Ralf Schröder is a high-ranked German police officer with 30 years […]
By John Lee. The Trade and Economic Research Centre (TREC) has signed a cooperation agreement with the Federation of Iraqi Chambers of Commerce, aiming to bridge the gap between academic research and Iraq's commercial and economic realities. The partnership seeks to promote a knowledge-based economy by translating theoretical studies into practical policies that enhance market […]
