Iraqi PM Launches Ambitious Banking Sector Reform
By John Lee. Prime Minister Mohammed Shia' Al-Sudani addressed the Conference on Reforming the Iraqi Banking Sector on Monday, outlining an ambitious agenda to modernise Iraq's financial infrastructure and promote sustainable economic development. Key initiatives and achievements highlighted in the Prime Minister's address include: Implementation of a three-year national budget, enabling long-term planning and strategic […]
New Fuel Oil Pipeline to Samawah Power Plant
By John Lee. In line with the directives of Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani, Iraq's Oil Pipelines Company has announced the successful operation of a new fuel oil pipeline connecting Samawa Refinery to the Samawa Combined Cycle Power Plant. According to the company's Director General, Ali Abdul […]
"No Significant Barriers" to Kurdish Oil Exports: Baghdad
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. No significant barriers left to resume Kurdish oil exports: Baghdad Iraq's oil ministry said on Monday that there are no major obstacles remaining to resume Kurdish oil exports via the Iraq-Turkey pipeline and only […]
Iraq considers Smart Meters for Water Management
By John Lee. Professor Dr. Mahmoud Saleh Al-Khafaji of the Department of Water Resources Engineering at the University of Baghdad chaired a meeting organised by the Prime Minister's Office Adviser for Scientific, Academic, and Artificial Intelligence Affairs to explore smart digital solutions for water system management in Iraq. The session featured presentations on advanced technologies, […]
Tariffs: PM Orders Review of US-Iraq Trade Relations
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a high-level meeting on Saturday to assess the economic and trade impact of the United States government's decision to raise customs tariffs on imports from multiple countries, including Iraq. The discussion addressed potential effects on global markets, crude oil prices, and Iraq's domestic economy. According to […]
Tabaqchali: Tariffs, Oil Prices, and the Budget
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. Tariffs, Oil Prices, and the Budget The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was up 1.6% for the […]
OPEC+ Confirms Iraq Oil Output Increase
By John Lee. Eight key members of the OPEC+ alliance, including Iraq, have agreed to increase production starting in May 2025, citing healthier global market fundamentals and a positive outlook. At a virtual meeting held on 3 April 2025, the countries reviewed market conditions and confirmed they would implement a 411,000 barrels per day (bpd) […]
Genel Energy to Pay $26.9m in Arbitration Costs to KRG
By John Lee. Genel Energy plc has announced that its subsidiary, Genel Energy Miran Bina Bawi Limited (GEMBBL), has been ordered by the London Court of International Arbitration (LCIA) to pay the Kurdistan Regional Government (KRG) a total of $26.87 million in recoverable costs. The ruling follows a claim brought by the KRG in December […]
100% Iraqi-Owned Company to manage Development Road Project
By John Lee. The Prime Minister's Advisor for Transportation Affairs has announced that the Development Road Project will be managed by a new 100% Iraqi-owned company, reporting directly to the Prime Minister. Speaking to the state-run Iraqi News Agency (INA), Nasser Al-Asadi explained that during a recent meeting of the Higher Committee for the Development […]
Iraq Allocates First Industrial City Plots in Anbar, Dhi Qar
By John Lee. The Minister of Industry and Minerals, Professor Eng. Khaled Battal Al-Najm, has chaired the first 2025 Board of Directors meeting for the Industrial Cities Authority, reviewing major industrial development plans. Key Developments: The Minister handed over the first batch of industrial city plot contracts in Anbar and Dhi Qar to investors following […]
Visit by US Delegation "chance to Deepen Ties with Baghdad"
By Farhad Alaaldin for The National. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. A visit by a US delegation to Iraq next week is a chance to deepen ties with Baghdad With the accelerating pace of Iraq's economic revival and comprehensive development […]
Iran, Iraq trade Accusations as US forces stop 'Iranian Tankers'
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iran, Iraq trade accusations as US naval forces stop 'Iranian tankers' In a rare intervention, Iraq's oil minister has accused Iran of using forged Iraqi documentation for tankers intercepted by US forces. Tehran […]