Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. TotalEnergies, in partnership with Basra Oil Company (30%) and QatarEnergy (25%), has signed the final contracts of the Gas Growth Integrated Project (GGIP) at the Ratawi [Artawi] field in Basra, under the patronage of Prime Minister Mohammed Shia al-Sudani. The agreements include: a joint operating contract between the Ministry of Oil, Basra […]
By John Lee. The Iraqi Cabinet has approved key contracts as part of efforts to advance the development of the Artawi oilfield. The Council of Ministers endorsed the award of the Networks and Well Platforms (NWP) tender for Phase Two of the field to Sinopec, the Chinese oil services company. It also approved an exception […]
By Jon Wilks, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Dispatch from Basra: Glimpses of hope in Iraq's forgotten south There is perhaps nowhere else where the high hopes of the new Iraq were so dashed as in […]
From The Economist. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. The World's Surprise Boomtown: Baghdad Iraq's population has grown by 20 million since America's invasion. Read the full article here (subscription needed).
By John Lee. The Iraqi Cabinet has approved a mechanism to address the outstanding dues of companies investing in the electricity sector. The decision authorises the Trade Bank of Iraq (TBI) to take the necessary steps to purchase debts owed to investment companies against amounts due from the Ministry of Electricity. The State Oil Marketing […]
By John Lee. US-based consultancy K2 Integrity (K2i) has announced a strategic partnership with state-owned Rafidain Bank, Iraq's largest financial institution, to establish a comprehensive financial integrity program. According to a press release from K2 Integrity, the program will align with international standards of compliance, governance, and risk management. The three-year collaboration marks the beginning of […]
By John Lee. The National Investment Commission (NIC) has granted the investment licence for the Baghdad Hills project, one of the largest residential, recreational, and commercial developments in the capital. Located in the Al-Rafeel area of Baghdad, the project will feature 6,333 apartments distributed across 50 towers of 19 floors each, alongside 2,300 standalone villas. […]
By John Lee. The Central Bank of Iraq (CBI) has announced details of its urban development initiatives for Baghdad's heritage areas, including a donation of more than 90 billion Iraqi dinars [$90 million] to revive Al-Rasheed Street, one of the capital's most famous cultural and tourist landmarks. Plans include the introduction of a tram line […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has received the Chairman of the Tamayouz Excellence Award for Architecture, architect Ahmed Al-Malak, accompanied by Iraqi architect Manhal Al-Habbobi and Jordanian architect Osayd Al-Aytan. The meeting discussed preparations for Baghdad's hosting of the Arab Architecture Festival in October, organised by the Tamayouz Foundation under the Prime […]
By John Lee. The Central Bank of Iraq (CBI) has reported a significant decline in the inflation rate, reflecting a drop in the general price level and an improvement in purchasing power for individuals and institutions. It said that inflation stood at 0.8 percent in the second quarter of 2025, representing a 76 percent decrease […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani chaired a meeting on Sunday to discuss strategies for increasing Iraq's non-oil revenues and strengthening state finances. Attendees included the Minister of Finance, Minister of Trade, the Mayor of Baghdad, the Governor of the Central Bank of Iraq (CBI), and senior advisers and directors. The discussions focused […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani chaired a meeting of the Higher Committee for Reconstruction and Investment on Sunday, focusing on major housing initiatives in Baghdad. The meeting reviewed the economic model for the New Sadr City project, which in its first phase will deliver 11,000 housing units, alongside commercial areas, green spaces, […]
