Baker Hughes Finalizing a Strategic Framework Agreement in Iraq
By John Lee. The Iraqi Prime Minister met on Sunday with Mr. Lorenzo Simonelli, Chairman and CEO of US-based oil services company Baker Hughes, along with his accompanying delegation. Mohammed Shia Al-Sudani reiterated the government's commitment to ensuring the company's continued presence in Iraq and encouraged its expansion through collaboration with the government and the […]
Iraq Completes First Multilateral Oil Well in East Baghdad Field
By John Lee. Iraq's Ministry of Oil has announced the completion of its first multilateral oil well in the Southern East Baghdad field, using modern drilling technology. Deputy Minister for Extraction Affairs, Bassem Mohammed Khudair, highlighted the rapid drilling and doubled production capacity achieved at a low economic cost. The project, operated by China's EBS […]
Leadership Changes at 51 Labs
By John Lee. Five One Labs has announced that Patricia Letayf, cofounder and former Director of Operations of Five One Labs, is rejoining the organization as its new Executive Director. Alice Bosley, current Executive Director, will be taking on a new role as the President of the Board of Directors. These leadership changes take effect […]
Iraqi PM meets Major Egyptian Companies
By John Lee. Prime Minister Mohammed S. Al-Sudani met on Mondat with Egypt's Deputy Prime Minister and Minister of Transport and Industry, Mr. Kamel El-Wazir, along with heads of several major Egyptian companies specializing in roads, construction, and bridges. The Prime Minister emphasized that this visit reflects the strong brotherly relationship between Iraq and Egypt, […]
New Trade Agreement between UK and Kurdistan Region of Iraq
On Tuesday, 3 September 2024, Prime Minister Masrour Barzani of the Kurdistan Regional Government (KRG) met with a delegation from the United Kingdom led by Oliver Christian, His Majesty's Trade Commissioner for the Middle East and Pakistan, and His Majesty's Consul General to Dubai. The meeting was also attended by Andrew Bizley, the UK Consul […]
Major Undersea Cable Project: Iraq Partners with Ooredoo
By John Lee. Iraq's Minister of Communications, Dr. Hayam Al-Yasiri, announced an agreement with Qatar's Ooredoo Group to lay undersea cables with a capacity of 500 terabits at the Al-Faw station. According to the Ministry, the cables, comprising 24 pairs, will significantly boost Iraq's international communication capacity by connecting to over 200 global undersea cables, […]
Contract Awarded for Health Center in Sinjar
By John Lee. Sinjar Future Company has won a contract with the United Nations Development Programme (UNDP) for the "Construction of Kocho Public Health Center (with solar)-Sinjar-Ninawa Governorate, Iraq." Contract value is stated as $157,000. (Source: UNGM)
The Successes and Failures of Iraq's Energy Licensing Rounds
By Muhammed Abed Mazeel al-Aboudi for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Analyzing the Successes and Failures of Iraq's 5th plus and 6th Oil and Gas Bid Rounds For the sake of the Iraqi labor […]
Iraq Accedes to Oil Pollution Convention
By John Lee. The International Maritime Organization (IMO) has notified the Director of the IOPC Funds, Mr Gaute Sivertsen, that the Republic of Iraq deposited its instrument of accession to the 1992 Fund Convention [the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution] on 5 August 2024. The Convention will therefore enter into […]
Companies' Earnings Growth Continues, while Market Takes a Breather
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. Companies' Earnings Growth Continues, while Market Takes a Breather The equity market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was […]
UNDP Awards Building Contract in Tikrit
By John Lee. Bab Al Karama Company has won a contract with the United Nations Development Programme (UNDP) for "Rehabilitation and extension of the high training institute in Tikrit." Contract value is stated as $172,020.50. (Source: UNGM)
National Strategy for Sustainable Land Management in Iraq
FAO and MoE are developing the National Strategy for Sustainable Land Management in Iraq [EN/AR] The Food and Agriculture Organization of the United Nations (FAO) in Iraq, conducted the annual National Project Steering Committee under the project "Sustainable Land Management (SLM) for Improved Livelihoods in Degraded Areas of Iraq," funded by the Global Environment Facility […]