KRG Directs Resumption of Oil Exports in Coordination with Baghdad
By John Lee. The Council of Ministers of the Kurdistan Regional Government (KRG) has instructed the Ministry of Natural Resources (MNR) to maintain coordination with the federal Ministry of Oil, State oil Marketing Organization (SOMO), and oil-producing companies in the region to ensure the swift resumption of Kurdistan Region's oil exports through SOMO, with the […]
GE Vernova Boosts Iraq's Power Capacity
By John Lee. Iraq's Ministry of Electricity and GE Vernova have completed upgrades at multiple power plants, enhancing Iraq's electricity infrastructure. The project covers 46 gas turbines across 12 sites, expected to add up to 500 MW to the national grid by summer 2025. Several plants, including Ninawa, Al-Diwaniyah, Hilla, and Karbala, have transitioned from […]
Foundation Stone laid for Kirkuk's Rahimawa Tunnel Project
By John Lee. Kirkuk Governor Ribwar Taha Mustafa and Asso Mamand, Head of the Patriotic Union of Kurdistan's (PUK) Organisational Bureau, have laid the foundation stone for the Rahimawa (Al-Ikhwan) Tunnel project, under the supervision of Kirkuk Municipality. The ceremony was attended by members of the Kirkuk Provincial Council, advisors, directors of government departments, and […]
Iraq Assesses Turkish Hospitals for Medical Treatment Programme
By John Lee. Basra's Deputy Governor for Administrative Affairs, Maher Al-Amiri, has confirmed that a committee is continuing its visits to hospitals in Turkey under the directives of Governor Asaad Al-Eidani. The committee is evaluating healthcare services in Turkish hospitals to prepare a comprehensive report on selecting the best medical facilities for the resumption of […]
Tabaqchali: Trading Volumes Support Market's Uptrend
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. Trading Volumes Support Market's Uptrend The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), continued with the process of consolidating […]
DNO reports "Stellar Production" in Iraqi Kurdistan
By John Lee. DNO ASA, the Norwegian oil and gas operator, today reported 2024 revenues of USD 667 million on the back of what it described as "stellar production" in the Kurdistan region of Iraq. According to a company statement this morning: "Net production climbed 50 percent year-on-year to 77,300 barrels of oil equivalent per […]
Iraq, Russia Discuss Economic and Regional Cooperation
By John Lee. Prime Minister Mohammed S. Al-Sudani met with Mikhail Bogdanov, Special Envoy of Russian President Vladimir Putin, to discuss strengthening Iraq-Russia relations. Talks covered economic cooperation, regional stability, and the upcoming Arab-Russian Summit, which Al-Sudani signalled his intent to attend. Discussions also focused on expanding collaboration in multiple sectors, including the Development Road […]
NATO hails Strong Cooperation with Iraq
By John Lee. NATO Secretary General Mark Rutte has visited Iraq, accompanied by Supreme Allied Commander Europe (SACEUR), U.S. Army General Christopher G. Cavoli. During his visit, he met with President Dr. Abdul Latif Rashid, Prime Minister Mohammed Shia' Al-Sudani, and other senior officials to discuss NATO Mission Iraq (NMI), NATO-Iraq cooperation, and regional security. […]
New Italian Ambassador meets Iraqi PM
By John Lee. Prime Minister Mohammed S. Al-Sudani met recently with Italy's new Ambassador to Iraq, Niccolò Fontana. He congratulated Fontana on his new role and wished him success in his mission. Discussions covered bilateral relations and opportunities for enhanced cooperation across various sectors. Regional developments were also addressed, including the situation in Syria and […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 6th February 2025. Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 2,246.7 1.3% -0.1% RSISX USD Index […]
Trump Cancels US Exemption for Iraq to Import Energy from Iran
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Trump Cancels US Exemption for Iraq to Import Electricity and Gas from Iran US President Donald Trump on Wednesday revoked Iraq's exemption to import electricity and gas from Iran, reinforcing Washington's campaign of maximum […]
$800m Iraqi Refinery Expansion Project Signed
By John Lee. Prime Minister Mohammed S. Al-Sudani has overseen the signing of an $800-million contract for the expansion of Al-Diwaniya Refinery, adding a 70,000 barrel-per-day (bpd) atmospheric distillation unit to raise total capacity to 90,000 bpd. The project includes hydrocracking, gasoline upgrading, isomerization, and environmental compliance measures. The initiative aims to modernise Iraq's refining […]