Genel Energy issues Trading and Ops Update
By John Lee. Genel Energy has issued a trading and operations update relating to Q1 2025. Regarding the company's operations in Iraqi Kurdistan, it said: Kurdistan Region of Iraq Operations Gross production of 82,081 bopd in Q1 2025 (increased from 74,140 bopd in Q4 2024) from the Tawke license Working interest production of 20,520 bopd […]
Dinars to Dollars: Official List of Approved Banks
By John Lee. The Central Bank of Iraq (CBI) has announced that pilgrims can purchase dollars through designated banks and companies in Baghdad and other provinces. The process involves exchanging Iraqi dinars for US dollars at the branches of participating banks and companies. Further details and a list of the authorized entities are available on […]
PM gives Ultimatum for Completion of Al-Khairat Power Plant
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani chaired a meeting on the delayed Al-Khairat Thermal Power Plant project in Karbala, attended by the Chinese Ambassador to Iraq and representatives from the executing companies, Harlow International and CITIC, as well as officials from the Ministries of Electricity and Oil. The Prime Minister granted the […]
Meta explores Digital Transformation in Iraq
By John Lee. Prime Minister Mohammed S. Al-Sudani met with a delegation from US-based social media giant Meta to discuss collaboration in digital transformation, digital sovereignty, individual security, and content policies. The Prime Minister affirmed the government's commitment to advancing automation and digital transformation across public services, including government and banking applications. Both parties agreed […]
Iraq Ranks "Medium" in Human Development
By John Lee. The UN's latest Human Development Report ranks Iraq in 126th place (jointly with Eswatini) out of 170 countries, based on data from 2023: Human Development Index (HDI) Global Rank: Joint-126th HDI Score: 0.695 Category: Medium Human Development Inequality-adjusted HDI (IHDI): 0.534 HDI Loss due to Inequality: 23.2% Health & Income Life Expectancy […]
Azerbaijan discusses Cooperation with Iraq in Energy Sector
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani met with Azerbaijan's Foreign Minister, Mr. Jeyhun Bayramov, and the Vice President of SOCAR to discuss enhancing cooperation between Iraq and Azerbaijan, particularly in the energy sector. The Prime Minister highlighted investment opportunities in oil and gas and invited SOCAR to participate in projects. (Source: PMO)
Tabaqchali: Market at an All-time High, Oil Prices Crashing, What Gives?
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market at an All-time High, Oil Prices Crashing, What Gives? The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), closed […]
Iraq to Establish $190m Energy Investment Company
By John Lee. Iraq's Council of Ministers has approved the formation of a new private limited company focused on energy sector investments, with an initial capital of 250 billion Iraqi dinars (approximately $190 million), subject to increase. The founding stakeholders include the State Employee Pension Fund and the Trade Bank of Iraq (TBI), while the […]
Iraq Signs €130m Infrastructure Agreements with France
By John Lee. Iraq's Ministry of Finance signed two new credit agreements on Tuesday with the French development agency, Agence Française de Développement (AFD), to finance critical infrastructure projects in the sanitation sector. The first agreement includes a €30-million supplementary loan for the sewage project in Khalidiya district, Anbar, raising total funding for the project to […]
Iraq to buy Biometric Cameras from Korean Firm
By John Lee. Iraq's Council of Ministers has approved the signing of a contract addendum between the Independent High Electoral Commission (IHEC) and South Korean firm Miro to supply biometric cameras for voter verification devices. The cameras will serve as developmental components aimed at resolving cases where voters' fingerprints cannot be recognised on election day, […]
Iraqi PM directs Banks to Accelerate Reforms
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired a high-level meeting with the heads of Iraqi banks on Monday, reaffirming his government's commitment to banking reform as a pillar of broader economic revitalisation. He directed all banks to simplify procedures, embrace modern technologies, and encourage public confidence by stimulating deposits. The Prime Minister announced […]
Chestertons opens Real Estate Office in Baghdad
By John Lee. UAE-based Chestertons Global has announced the opening of a new office in Baghdad, as part of its ongoing expansion across the Middle East. According to a statement from the company, Iraq's real estate sector, valued at $1.12 billion in 2024 with projected annual growth of 6%, is attracting increasing interest from investors. Government-backed infrastructure […]