Petrel Resources Updates on Iraqi Prospects
By John Lee. Irish-based Petrel Resources Plc (LON: PET) has published its consolidated financial statements for the year ended 31st December 2024. The company's accounts show no assets or liabilities in Iraq. It adds: "Title to oil and gas assets in Ghana and Iraq can be complex. The Group is currently awaiting ratification of its licenses […]
Al Fajer Group Joins IBBC
By John Lee. Iraq's Al Fajer Group has joined the Iraq Britain Business Council (IBBC). Operating from offices in Basra and London, the company supports oil and gas operations with a strong focus on the Rumaila oil field. It delivers a wide range of technical and administrative services, including Electrical & Instrumentation (E&I), ICT & Security, […]
Iraq announces Oil Exports for May
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for May. Total exports of crude oil: 101,630,925 barrels. Exports from the oil fields in central and southern Iraq amounted to 100,365,335 barrels. Exports to Jordan amounted to 309,906 barrels. Exports from Qayyarah were 955,684 barrels. Average daily crude oil exports: 3.278 […]
Qi and K2 Integrity to Elevate Iraq's Financial Standards
By John Lee. Qi (International Smart Card), Iraq's largest electronic payment platform, has announced that it has entered into a landmark partnership with K2 Integrity (K2i), a US-based global financial integrity and compliance advisory firm. The multi-year collaboration aims to align Iraq's financial infrastructure with international standards in anti-money laundering (AML) and countering the financing […]
Netaj Launches Nawat: "Iraq's First VC Studio"
By John Lee. Netaj -- a Baghdad-based innovation firm that offers venture support, strategic consulting, and capability-building for entrepreneurs and institutions -- has announced the official launch of Nawat, which it describes as the country's first-ever Venture Capital (VC) Studio. According to a press release, Nawat is designed to identify, support, and invest in high-potential […]
Basra Gas Company to Boost LPG Output
By John Lee. The Ministry of Oil plans to increase the production of liquefied petroleum gas (LPG) at the Basra Gas Company (BGC) to more than 8,000 tonnes per day in the coming years. Speaking at the LPG Forum organised by the BGC, Izzat Saber Ismail, Deputy Oil Minister for Gas Affairs, said that this […]
UK Trade with Iraq Up 3.9%
By John Lee. The UK's Department for Business and Trade has said that total trade in goods and services (exports plus imports) between the UK and Iraq was £1.1 billion in the four quarters to the end of Q4 2024, an increase of 3.9% or £43 million in current prices from the four quarters to […]
Petrel submits Proposal re Relinquished Block from 4th Licensing Round
By John Lee. Irish-based Petrel Resources last week issued unaudited preliminary results for the year ending 31 December 2024. The company, which announced a fundraising in March, said that it has submitted a proposal to undertake contractor obligations on a relinquished block from Iraq's 4th Bid Round, and has also prepared an updated development plan […]
Tender for Iraqi Dinar Cash Distribution
By John Lee. Islamic Relief Worldwide (IRW) has published a tender for the provision of cash distribution services. Click here to download the tender from our Tenders Page. Find more tenders here. (Source: IRW)
Iraq Condemns Attacks on Iranian Nuclear Facilities
By John Lee. The Iraqi government has issued a strong condemnation of recent attacks on nuclear facilities in Iran, warning that such actions threaten regional and global security. In a statement released by government spokesman Basim Alawadi on Sunday, Iraq described the military escalation as a "grave threat to peace and security in the Middle […]
WFP Iraq Country Brief, May 2025
In Numbers 11,293 People assisted USD 347,958 cash-based transfers made USD 24.7 million six months (June - November 2025) net funding requirements Operational Updates General Food Assistance WFP provided e-vouchers to over 4,940 residents (1,299 households) in the Al-Amal Rehabilitation Centre (formerly Jed'ah 1 Centre) in Ninewa Governorate. In addition, WFP provided cash assistance to […]
Nine Iraqi Top Court Members Resign
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Nine Iraqi top court members resign Nine members of Iraq's Federal Supreme Court submitted their resignations on Thursday in protest against the court's chief justice. Click here to read the full article.