By John Lee. The Iraqi Council of Ministers has approved a modification to the contract area of the East Baghdad Oil Field - Southern Region, adding 95 km² west of the Diyala River. According to the Media Office of the Prime Minister, this expansion aims to exploit an estimated 710 million barrels of crude oil […]
By John Lee. The Iraqi Council of Ministers has approved the Waste-to-Energy Power Generation Project in Nahrawan, Baghdad, awarding it to the Chinese company Shanghai SUS Environment. The project will have a two-year construction period and a 25-year investment term. The National Investment Commission (NIC) will issue the investment licence and finalise the contract. The […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul Ghani, met on Monday with a delegation from UAE-based energy services company Kent, and Iraq's Al-Shalal Al-Azraq Company (SHACo). The delegation included Shalal Al-Saraifi [Dr. Shalal M. Falih], Chairman of Shaco; Matthew Bishop, Senior Vice President of Kent; and Alexon Strandberg, Managing Director of Kent Iraq. […]
By John Lee. The Iraqi Parliament has voted to approve the first amendment to the Federal Budget Law (No. 13 of 2023) for the fiscal years 2023, 2024, and 2025. Proposed by the Finance Committee, the amendment aims to appoint an international technical advisory firm to assess fair production and transportation costs for oil fields […]
By John Lee. The Iraqi Ministry of Oil has reiterated that all crude oil exports adhere to global standards ensuring maximum transparency. According to a statement from the Ministry, Iraqi crude is sold to reputable international companies with certified refineries under Free on Board (FOB) terms from Iraqi export terminals. The ministry categorically denies any […]
By John Lee. Iraq's Minister of Construction, Housing, and Municipalities, Benkin Rikani, has approved the master plan for the Ali Al-Wardi Residential City Project in Baghdad. The announcement was made in the presence of senior officials and representatives from Egypt's ORA Developers. Located in Nahrawan, southeast of Baghdad, the project will be the largest new […]
By John Lee. Japan's specialty coffee brand % Arabica has reportedly signed a master franchise agreement with Dubai-based Al-Handal International Group, paving the way for its Iraq launch. Key Details: First Iraq Store: Expected to open in Baghdad by late 2025, with further expansion in 2026. MENA Growth: Iraq becomes the 10th regional market for […]
By Shahriar Sheikhlar for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. BP's High-Stakes Return to Kirkuk BP's reemergence in Kirkuk could present significant challenges to both the oil company and Al-Sudani's belief in the future of the country's political environment. The coming […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq imports over 50 kilograms of gold daily: Ministry Iraq imports between 50 to 75 kilograms of gold daily excluding the Kurdistan Region, the planning ministry said on Wednesday, adding that gold imports are […]
By John Lee. Minister of Construction, Housing, and Municipalities, Benkin Rikani, in the presence of Defence Minister Thabit Al-Abbasi, has approved the master plan for a new residential city in Baghdad dedicated to Iraqi Army personnel. The project, designed to modern urban standards, will feature over 114,000 housing units. It will also be connected to […]
By John Lee. Prime Minister Mohammed S. Al-Sudani and Egyptian Prime Minister Dr. Mostafa Madbouly participated in the Iraqi-Egyptian Economic Forum, attended by 300+ business leaders from both nations. Key Highlights: Economic & Historical Ties: PM Al-Sudani emphasized Iraq and Egypt's long-standing relations and the potential for expanded private sector cooperation. Reform-Driven Investment: Iraq's banking, […]
By Ingrid d'Hooghe, Vera Kranenburg, and Erwin van Veen, for The Clingendael Institute. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. China in Iraq The main objective of China's engagement in Iraq is to ensure a reliable flow of oil that diversifies Beijing's imports […]
