By John Lee. Prime Minister Muhammad Shia Al-Sudani opened the Iraq Energy Conference 2026 in Baghdad on Wednesday, emphasising in his keynote speech: Target to export 40% of oil output as higher-value derivative products by 2030 Expansion of refining capacity and cooperation with the private sector to end fuel imports Utilisation of 74% of Iraq's […]
By John Lee. The publicly-traded UK company Kistos Holdings has held discussions in Iraq on matters related to the oil, gas, and energy sectors. The meeting took place between Minister of Oil Hayan Abdul Ghani al-Sawad and Peter Mann, Chief Executive Officer of Kistos. According to the company's website, Kistos was established in October 2020 as an energy […]
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi Dinar Plummets Against Dollar as Citizens Rush to Exchange Value of $100 jumps by 8,000 dinars in two days amid rising fear and market uncertainty. Click here to read the full article.
By John Lee. The operational plan for the Development Road project has been reviewed, alongside progress on engineering designs and economic feasibility. The discussions were held during a meeting involving Oliver Wyman, the project's financial advisory firm, and BTP, the Italian engineering consultancy, at the headquarters of the Iraqi Republic Railways Company. Key points covered […]
By John Lee. The Council of Ministers has designated the Mandali-Sumar border crossing as an international border point. The crossing is situated between Diyala and the Iranian province of Kermanshah. According to a statement from the Prime Minister's Office, the decision was made in accordance with the Border Crossings Authority Law No. 30 of 2016. […]
Gulfood Cemented as a Strategic Pillar of the UAE's Food Economy and a Global Engine for Agri-Trade With expansion into new markets through Gulfood360 Africa/Kenya and the signing of multiple international MOUs, the Gulfood brand accelerates its role as a convening force for global food systems, trade diplomacy and cross-border growth Day three of Gulfood […]
By John Lee. Steps to implement the strategic Haditha-Baniyas crude oil pipeline project have been reviewed. The discussions focused on completing technical and logistical studies required to advance the project, which is intended to diversify Iraq's export outlets and increase crude oil export capacity. According to the Ministry, the pipeline is designed to enhance flexibility […]
By John Lee. Iraq's Council of Ministers has approved a new factory for the production of motorcycles and electric motorcycles. At its meeting on Tuesday, it approved the issuance of a licence to Babel Al-Dhahabiya Company for General Trading and the Trading and Manufacturing of Cars and Motorcycles. (Source: PMO)
By John Lee. A workshop has been held on preparations for the next phase of Iraq's mutual evaluation process on anti-money laundering and counter-terrorism financing (AML/CFT) at national and sectoral levels. The event was organised by the Central Bank of Iraq (CBI)'s Anti-Money Laundering and Counter-Terrorism Financing Office, in cooperation with the Ministry of Interior […]
By John Lee. A memorandum of understanding (MoU) has reportedly been signed for a 30MW waste-to-energy plant in Babil. According to Shafaq News, companies involved include UK-based IM Power, headed by Gordon Dickey; German company SIMS; and Turkish construction company ESTA. The full article can be viewed here.
By John Lee. Genel Energy has issued a trading and operations update in advance of the company's full-year 2025 results, which are scheduled for release on 18 March 2026. Regarding the company's operations in Iraqi Kurdistan, it said: Production performance improved in the fourth quarter, supported by workovers and well interventions. Average production in unaffected […]
By John Lee. The United States Court of Appeals for the District of Columbia Circuit has reinstated a lawsuit against several pharmaceutical and medical-device companies, regarding their activities in Iraq. The original lawsuit claimed that the companies knowingly financed terrorist attacks in Iraq following the overthrow of Saddam Hussein, through their support to the Ministry […]
