Al Marafaa joins IBBC
By John Lee. The Iraq Britain Business Council (IBBC) has announced that Basra-based Al Marafaa has joined IBBC as a member. According to a statement, the company specialises in delivering advanced Information and Communication Technology (ICT) solutions tailored to the unique needs of the international oil and gas industry in Basra, Iraq. It says leading […]
IDC Advances 15-Well Project in North Rumaila
By John Lee. The Iraqi Drilling Company (IDC) is making steady progress on its project to drill 15 oil wells in the North Rumaila field, working in coordination with Halliburton and Basra Energy Company Limited (BECL). During a site visit to rig IDC 59, Khalid Abbas Ali, Head of the First Drilling and Workover Department, […]
IBBC appoints new Baghdad Office Manager
From the Iraq Britain Business Council (IBBC): IBBC appoints Ali Mashkour as its new Baghdad Office Manager. Ali Mashkour joins IBBC from member company MHD International. He is Iraqi British and has been based in Baghdad for the past ten years, working in projects across infrastructure, security, transport and government sectors, managing multi-disciplinary teams and engaging senior stakeholders […]
Iraqi Minister Warns of $200-300 Oil
By John Lee. Iraq's Deputy Prime Minister and Foreign Minister, Fuad Hussein (pictured), has cautioned that the continuation of Israeli and Iranian military operations may lead to the closure of the Strait of Hormuz, which could result in the loss of up to five million barrels per day of oil exports from the Gulf and […]
Chinese Firm Wins Bid for $294m Iraq Pipeline Project
By John Lee. China Petroleum Engineering Corporation (CPEC) has announced that its wholly owned subsidiary, China Petroleum Pipeline Engineering has received a letter of award from France's TotalEnergies for a major gas infrastructure project in Iraq. The Artawi [Ratawi] GMP EPSCC Project, commissioned by TotalEnergies, involves the construction of midstream gas pipeline facilities linking the […]
BOC to use Majnoon Budget for Storage Expansion Project
By John Lee. The Iraqi Cabinet has approved a recommendation allowing the Ministry of Oil, through the Basra Oil Company (BOC), to allocate part of the 2025 budget for the Majnoon Oil Field to fund a new infrastructure project. The initiative involves the expansion and development of core sample storage facilities at Nahr Bin Omar […]
Iraq Investment Forum Postponed
By John Lee. Iraq's National Investment Commission (NIC) has announced the postponement of the Iraq Investment Forum, which had been scheduled to take place on 14-15 June 2025. The announcement attributed the delay to "unforeseen organisational and technical reasons," but it is generally understood to be due to the rapid escalation of tensions in the […]
Debate on Greater Autonomy reignites in Iraqi's Oil-Rich South
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Debate on greater autonomy reignites in Iraqi's oil-rich south Following the Iraqi parliament's elevation of Sulaimaniyah's Halabja district to full governorate status in April, the country is now witnessing an unprecedented wave of similar […]
Iraq Approves Measures to Boost Domestic Industrial Oil Production
By John Lee. The Iraqi Cabinet has approved the recommendations of the committee tasked with reviewing and addressing issues related to locally produced and imported industrial oils, as part of broader efforts to strengthen the domestic manufacturing sector. Key decisions include: Formation of a committee chaired by the Deputy Minister of Oil, with members from […]
Will end to Pipeline Feud revive flow of Iraqi Oil to Israel?
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Deep Dive: Will end to pipeline feud revive flow of Iraqi oil to Israel? After a glimpse of progress, Baghdad's spat with the Kurdistan Regional Government (KRG) over the future of the Iraq-Turkey Pipeline […]
World Bank Cuts Iraq Growth Forecast
By John Lee. Real GDP in Iraq is expected to increase by 1.2 percent this year, according to the World Bank's latest Global Economic Prospects report. This represents a significant reduction on the previous forecast of 3.5 percent growth, issued in January. The report says: "In non-GCC oil exporters, current account balances are expected to deteriorate, mainly […]
Iraq Imposes Additional Tariffs on Imported Beverage Cans
By John Lee. As part of efforts to protect domestic industry, the Iraqi Cabinet has approved the imposition of an additional 20% customs duty on imported aluminium cans used for carbonated beverages, juices, and energy drinks. This brings the total tariff to 50% per unit of measurement, applicable to imports from all countries and origins. […]