Kirkuk Airport Opens Gold Testing and Hallmarking Unit
By John Lee. Iraq's Central Organisation for Standardisation and Quality Control (COSQC) has opened its fourth unit for testing and hallmarking precious metals and imported gold at Kirkuk International Airport. The ceremony, led by Dr. Fayadh Mohammed Abdul-Dulaimi, COSQC President, was attended by key officials, including airport customs and border management representatives. Dr. Abdul-Dulaimi highlighted […]
KBR wins $187m Order for Medical Support Services in Iraq
By John Lee. US engineering firm KBR has secured a $187 million order from the U.S. Department of State to provide medical support services in Iraq under the Diplomatic Platform Support Services (DiPSS) contract. The five-year Medical Support Services Iraq (MedSSI) task order will run through 2029. Under the contract, KBR will operate a Diplomatic […]
New Initiative to promote Iraqi Youth Entrepreneurship
By John Lee. Iraq's Supreme Council for Youth has approved several initiatives to promote youth development and economic participation. Key decisions included establishing "Secure Economic Zones for Youth," with four incubators in Baghdad and two in each governorate, and creating the "Iraq Young Entrepreneurs Forum" to support 500 young entrepreneurs and enhance their access to […]
Genel Energy Reports Strong Financials
Genel Energy issued the following trading and operations update in advance of the Company's full-year 2024 results, which are scheduled for release on 18 March 2025. The information contained herein has not been audited and may be subject to further review. Paul Weir, Chief Executive of Genel, said: "We start 2025 with a business that […]
Plans for a Forum of US Company Reps in Iraq
By John Lee. Prime Minister Mohammed S. Al-Sudani met with Steve Lutes, Vice President of Middle East Affairs at the U.S. Chamber of Commerce and President of the U.S.-Iraq Business Council, to discuss Iraq-U.S. commercial relations. The talks focused on preparations for a forum of U.S. company representatives in Iraq and the progress on implementing […]
$528m Development of Iranian Oilfields near Iraqi Border
By John Lee. Iran has reportedly launched a $528-million project to develop three oilfields near the Iraqi border. According to the state-owned Iranian PressTV, the fields are Sumar, Saman, and Delavaran, located in Kermanshah and Ilam provinces, part of the Naftshahr Operation Zone. The development, overseen by the National Iranian Oil Company (NIOC), aims to […]
Cooperation between Iraqi and Abu Dhabi Stock Exchanges
By John Lee. Prime Minister Mohammed S. Al-Sudani met with Abdullah Salem Al-Nuaimi, CEO of Abu Dhabi Securities Exchange (ADX), to discuss enhancing cooperation and expanding private sector engagement to support economic growth. During the meeting, the Prime Minister oversaw the signing of a Memorandum of Understanding (MoU) between the Iraqi Securities Commission (ISC) and […]
Rumaila Oil Production Down following Fire
By John Lee. Oil output at Iraq's Rumaila oilfield is reportedly down by 300,000 barrels-per-day (bpd) following a fire last week. The fire is said to have occurred in a decommissioned storage tank at the field's fifth gas separation station (DS5) in northern Rumaila. It was not reported when the field is expected to be […]
Surge in Int'l Investment in Iraqi Strategic Transport Projects
By John Lee. The Iraqi Ministry of Transport has announced increased interest from international companies in investing in Iraq's strategic transport initiatives. Aided by improved investment conditions and government policies, 2025 is expected to see exceptional foreign direct investment activity, according to the Ministry. Key opportunities include the Grand Faw Port project, with 11 shortlisted […]
Iraqi Cement Company Achieves 7% Growth, Plans Expansion
By John Lee. The Iraqi Cement Company, part of the Ministry of Industry and Minerals, has announced a total production of 10.2 million tonnes of cement in 2024, marking a 7% increase compared to 2023. General Manager Aqeel Abdul Ali Raddam attributed this growth to successful strategies for improving productivity and efficiency to meet rising […]
Saudi Cafe Chain Opens First Branch in Iraq
By John Lee. Saudi Arabia cafe chain Kyan Café has opened its first branch in Iraq. The outlet in Basra will initially open from 2:00pm until midnight, but has plans to extend this to 24 hours. It is Kyan's 356th store worldwide. (Source: Kyan Café)
IEA: Iraq makes "Slow but Steady Progress" on Gas Flaring
By John Lee. The International Energy Agency (IEA) has issued its Gas Market Report, Q1-2025, in which it describes Iraq's progress towards reducing gas flaring as, "slow but steady." It says: "In the Middle East the role of natural gas in the power sector has been increasing in the past decade and oil-to-gas switching continued […]