OPEC: Iraq Over-Produces Oil again in July
By John Lee. OPEC, the Organization of the Petroleum Exporting Countries, has published a revised compensation plan relating to over-production of oil in the first seven months of 2024. The new plan (see below) compensates for over-production from January to July (inclusive), with compensation taking place from this month (August 2024) to September 2025. It […]
Iraqi PM opens Nasiriyah International Stadium
By John Lee. Prime Minister Mohammed Shia Al-Sudani inaugurated Nasiriyah International Stadium in Dhi Qar province, marking the start of several projects in the area. The stadium, which has capacity for 20,000 spectators, is part of the Dhi Qar Reconstruction Fund. According to a statement from the Prime Minister's Office, the stadium was completed ahead […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 22nd Aug 2024). Please click here to view a table of listed companies and their associated ticker codes. Note: ISX will be closed on Aug. 25, 2024 (Sunday) due to a religious holiday (The fortieth of Imam Hussein). The next trading session […]
Dubai's Off-Plan Market Investment Potential: A Beginner's Guide
At the moment, buying off-plan properties in Dubai is irresistible even to the most inexperienced of investors. The buoyant real estate sector, positive economic outlook, and a plethora of infrastructural projects strengthen Dubai's position as a preferred location for property investment. This article explores off-plan market potential in Dubai focusing on prime areas with references […]
Iraq Investment Map 2024
By John Lee. Iraq's National Investment Commission (NIC) has just published its Iraq Investment Map 2024. The 283-page report includes details of investment opportunities, in addition to sectoral and regional data. Click below to download the full report: English Arabic See also Investor Guide to Iraq 2024. (Source: NIC)
Investor Guide to Iraq 2024
By John Lee. Iraq's National Investment Commission (NIC) has just published its Investor Guide to Iraq 2024. The 55-page guide gives an overview of the investment climate in Iraq. Click below to download the full report: English Arabic See also Iraq Investment Map 2024. (Source: NIC)
Chinese Firm to build TotalEnergies 1GW Solar Plant
By John Lee. China Energy Engineering Corporation (Energy China, CEEC) and France's TotalEnergies have signed an EPC contract for a 1-GW solar power project at the Ratawi [Artawi] field in Basra. According to a statement from Energy China: "This project is the first large-scale project in the Iraqi government's PV construction plan, and serves as […]
First Meeting of Iraq Supreme Committee for AI
By John Lee. Iraq's Supreme Committee for Artificial Intelligence (AI) held its first meeting on Wednesday, during which the Iraqi National Strategy for Artificial Intelligence was reviewed. The meeting, led by Prime Minister Mohammed Shia Al-Sudani, reviewed key projects and applications supported by the government, including AI integration into education and smart applications across various […]
Major Legal Dispute over Khor Mor Gas Project
By John Lee. Pearl Petroleum terminated Enerflex's contract for the Khor Mor Gas Expansion Project due to alleged performance issues and project delays. Enerflex disputes the termination, citing a deadly drone attack near the project site and invoking force majeure due to safety concerns. A significant dispute has emerged between Pearl Petroleum, developer of the […]
Iraq Increases Gas Supply to Power Plants
By John Lee. The Iraqi Ministry of Oil announced that North Gas Company (NGC) has increased its gas supply to power stations by 50 million standard cubic feet per day (MMSCFD). This increase is set to enhance electricity production at several gas power plants, including Dibis [Dibs, Debes] (60-80 MW), Kirkuk (60 MW), and Mosul […]
Three New Oil Wells in Zubair and West Qurna Fields
By John Lee. The Iraq Drilling Company (IDC) has successfully completed the drilling and restoration of three new oil wells in the Zubair and West Qurna fields. The technical teams drilled well IDC 626 to a depth of 3,634 meters for Italy's ENI, in cooperation with Schlumberger (SLB). This marks the 35th well completed as […]
Iraq to Relocate Old Brick Factories to Reduce Pollution
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired a meeting to discuss relocating old brick factories from Nahrawan due to their proximity to residential areas, and their negative environmental effects. According to the Prime Minister's Office, these factories, which often lack work permits and employ outdated machinery, contribute to pollution and exploit vulnerable workers, […]