Iraq Reviews Huawei Solar Power Proposal
By John Lee. Iraq's Minister of Electricity, Eng. Ziyad Ali Fadel, chaired a technical meeting with Chinese company Huawei to discuss the proposal for a fast-installation solar power plant with a capacity of 100 MW in Karbala. The project is intended to be completed within six months and operational by summer 2025 to help meet […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 10th Oct 2024). 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 1,877.6 1.3% 20.8% RSISX USD Index […]
Iraq signs Contract with GCCIA for Import of Electricity
By John Lee. Iraq has signed a contract with the Gulf Cooperation Council Interconnection Authority (GCCIA) for the import of electricity. The project aims to enhance Iraq's energy stability and reduce reliance on costly conventional energy sources. The Gulf-Iraq electricity link is expected to supply Iraq with 3.94 TWh (terawatt-hours) annually by 2025 at competitive […]
Loxstone Energy to facilitate Iraq/Turkmenistan/Iran Gas Swap
By John Lee. Iraq's Council of Ministers has authorized the Ministry of Electricity to contract with the Swiss company Loxstone Energy for the supply of gas from Turkmenistan to Iraq via Iran under a swap agreement. Due to the importance and urgency of this contract in maintaining the operation of power plants, the deal is […]
Rafidain Bank to engage K2 Integrity
By John Lee. As part of the Iraqi government's efforts to reform the financial and banking sectors, the Council of Ministers has approved the contracting of Rafidain Bank with K2 Integrity and up to three experts in the fields of compliance, anti-money laundering, and risk management. According to a statement from the Office of the […]
Iraq Launches Tender for Baghdad-Baiji Railway Upgrade
By John Lee. The Iraqi Ministry of Transport has announced a tender for the design and completion of the Baghdad-Baiji railway line, with plans to upgrade the Taji-Baiji section to UIC60 standard gauge. Partially funded by the World Bank under the Emergency Development Project, the contract covers design and construction work to modernize the current […]
IDC Completes Oil Wells in Sth Baghdad and Bazargan
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed drilling two oil wells, one in the East Baghdad South field and another in the Bazargan South field (part of the Maysan fields). Deputy General Manager Kazem Habash Khalif stated that the company continues to implement its ambitious plans using advanced drilling techniques while […]
Plans for River Taxi Service in Baghdad
By John Lee. The Administrative Undersecretary of Iraq's Ministry of Transport, Dr. Hazem Radi Al-Hafathi, led a meeting to discuss the activation of a river taxi service in Baghdad. According to a statement from the Ministry, the project aims to establish 22 docking sites along the Tigris River, improving river transport and alleviating traffic congestion […]
Iraq PM opens Baghdad Paediatric Hospital
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani inaugurated the second phase of renovations at Baghdad's Central Teaching Hospital of Paediatrics, marking what his office described as a significant step in the government's healthcare modernization efforts. The upgraded facilities include revamped surgery and hematology departments, four new operating rooms, advanced radiology and CT/MRI units, […]
EXIM Bank approves $297m for Energy Project in Iraq
By John Lee. The Export-Import Bank of the United States (EXIM) has approved a $297 million final commitment in support of an energy efficiency project in Iraq. The project will increase the availability and reliability of electricity in Iraq by generating power through waste heat. Florida-based Stellar Energy Americas, Inc. will provide engineering, procurement, construction […]
Iraq to pay Pakistan Petroleum $6m in Settlement
By John Lee. Pakistan Petroleum Limited (PPL) has announced that its subsidiary, PPL Asia E&P B.V. (PPL Asia), has reached what it describes as "a mutually favourable settlement" with Iraq's state-owned Middle Oil Company, successfully concluding all matters relating to the Exploration, Development, and Production Service Contract (EDPSC) for Block-8 in in the Diyala and […]
Iraq Moves Forward with 5G Mobile Licence Project
By John Lee. Iraq's Minister of Communications, Dr. Hayam Al-Yasiri, announced progress on implementing the national 5G mobile license project. During a meeting with the project's steering committee, the ministry reaffirmed its commitment to advancing the project despite regional security challenges. The initiative, approved by the Cabinet, grants the Ministry of Communications the authority to […]