By John Lee. The Iraqi Cabinet has authorised the Ministry of Oil to sign a non-binding Memorandum of Principles with US oil company Chevron. According to a statement from the Prime Minister's office, the agreement would facilitate negotiations on: The Nasiriyah Block Project, which includes four exploratory blocks (A, B, C, D); The development of […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani received a delegation from U.S. oil services firm Morgan Hughes, led by the company's Vice President Gregory Bloom, in a meeting held on Tuesday and attended by Steven Fagin, Chargé d'Affaires at the U.S. Embassy in Baghdad. The talks focused on potential cooperation and investment opportunities, including […]
By John Lee. Netaj, an Iraqi platform for innovation and entrepreneurial support, has announced a series of strategic partnerships, "aimed at enabling thousands of Iraqi youth to enter the e-commerce space with the tools and support they need to succeed." Among the most notable collaborations is one with Haeiz, which it describes as a leading […]
By John Lee. The Iraqi Cabinet has approved an exception for US-based HKN Energy, allowing it to bypass the standard qualification criteria and receive a direct invitation to develop the Hamrin oil field in northern Iraq. Last week, the Ministry of Oil signed an agreement in principle with HKN to develop the field, aiming to […]
By John Lee. The Ministry of Oil has signed a contract with US-based Schlumberger (SLB) to increase natural gas production at the Akkas gas field in Anbar province. Speaking at the signing ceremony, Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, described the project as a major milestone in Iraq's […]
By John Lee. The Government of Turkiye has officially announced the termination of the long-standing Iraq-Turkey Crude Oil Pipeline Agreements, effective 27 July 2026, by Cabinet Decision No. 10113. The termination applies to the following agreements and related documents: The Crude Oil Pipeline Agreement dated 27 August 1973, approved by Cabinet Decision No. 7/9843 of […]
By John Lee. The Central Bank of Iraq (CBI) has re-issued General Tender No. (2025/1) for the second time, inviting bids for the supply, installation, and operation of 68 currency counting and sorting machines for its branches in Basra (35 machines) and Mosul (33 machines). The tender covers both Iraqi and foreign currencies (USD and […]
By John Lee. Northrop Grumman Systems Corp., Fort Worth, Texas, has been awarded an $11,737,827 modification (P00031) to a previously awarded contract FA8617-21-C-6237 for contractor logistics support of Iraq's C-172 and C-208 fleets. The modification brings the total cumulative face value of the contract from $58,886,759 to $70,624,586. Work will be performed at Martyr BG […]
By John Lee. KBR has announced the renewal of its engineering, procurement, and construction management (EPCM) contract with Basra Oil Company (BOC) for the Majnoon oil field in Iraq, extending the agreement for another two years. Under the contract, KBR will continue delivering EPCM services to support production targets, enhance operational efficiency, improve safety, and […]
By John Lee. On 12 July 2025, the United Nations Institute for Training and Research (UNITAR) welcomed 524 young participants from Egypt, Iraq, and Lebanon to the Japan-funded "RISE LAB: Igniting Youth Potential through Entrepreneurship, Innovation, and Economic Resilience" training programme. Designed as a multi-phase approach, this programme aims to empower motivated entrepreneurs and leaders, both men and […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani officially opened the new Ramada Plaza tourist hotel in Mosul on Wednesday, marking a key investment by the private sector in Nineveh province. Located on the western bank of the Tigris River, the Ramada Plaza hotel features 148 rooms and suites, a variety of restaurants, four modern […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi electoral process in question as second Shiite bloc withdraws from polls Amid mounting fears over the future of democracy in Iraq, the Nasr (Victory) bloc led by former premier Haidar Al-Abadi (2014-18) […]
