Najaf-Karbala Rail Tender Extended; Only 1 Bid Received
By John Lee. The Iraqi Cabinet has decided to extend the tendering period for the Najaf-Karbala train project by an additional month. According to a statement from the Prime Minister's office, the extension was agreed in the hope of attracting more bids, and to "ensure competition beyond the single offer currently received." (Source: PMO)
Iraq to launch National Entrepreneurship Competition
By John Lee. Prime Minister Mohammed Shia' Al-Sudani chaired the fifth meeting of the Supreme Council for Youth, discussing and approving several initiatives: The Council launched the National Entrepreneurship Competition, in collaboration with the Riyada initiative, to support 100 youth-led entrepreneurial projects with loans up to 100 million dinars [$76,00] each. Additionally, the Council approved […]
Chinese/Iraqi JV to Develop Mansuriyah Gas Field
By John Lee. Iraq's Middle Oil Company [Midland Oil Company] has signed a preliminary agreement with a joint venture consisting of the Chinese company Jereh and Petro Iraq to develop the Mansuriyah gas field. Deputy Minister for Extraction Affairs, Bassem Mohammed Khudair, stated that this contract is part of the Ministry of Oil's efforts to […]
More details of Oliver Wyman Iraq Contract
By John Lee. The Director-General of Iraq's General Company for Railways has given more details about the role of the consultancy firm Oliver Wyman in the Development Road project. Younis Al-Kaabi told the state-run Iraqi News Agency (INA) that the consultation period is limited to 9 months, with the company to provide: A summary of […]
Dr Amet Selman's keynote speech to Fertilizer Association
From the Iraq Britain Business Council (IBBC): Dr Amet Selman's keynote speech to IFA (International fertilizer association) in Singapore. Dr Amet Selman's keynote speech to IFA (International Fertilizer Association) in Singapore. Nourishing the Planet, Powering the Future- aligning agribusiness with global trends. Ahead of his keynote speech to the IFA at their global conference in […]
IMF: Fiscal Expansion to Boost Growth in Iraq (FULL REPORT)
By John Lee. The International Monetary Fund (IMF) has issued a detailed report on the Iraqi economy. The following key points were highlighted: Improved Domestic Stability: Since the new government took office in October 2022, Iraq has experienced improved domestic stability. This facilitated the passage of its first three-year budget, which led to a large […]
China's Geo-Jade in New Integrated Oilfield Project in Iraq
By John Lee. Iraq's Ministry of Oil has signed a Heads of Agreement (HoA) with the Chinese company Geo-Jade and the Iraqi company Crescent Basra (Hilal al-Basra) to invest in the integrated development project at the Tuba field, in the Zubair district of Basra. According to a statement from the Ministry, the project would have […]
Int'l Companies to build new Civil Facilities in Al-Kadhimiya
By John Lee. The Iraqi Cabinet has approved the conversion of the Al-Kadhimiya military base, commonly known as the Fifth Division, into a new urban civic center. According to a statement from the Prime Minister's Office, the new development will include recreational, educational, cultural, and hospitality facilities, including hotels, hospitals, health centers, sports stadiums, civil […]
Iraq pushes Chinese Gas Project at Block 9
By John Lee. The Ministry's Deputy Minister for Gas Affairs has inspected the gas project in Block 9 (Al-Fayhaa, Faihaa) in Basra province. Mr. Ezzat Saber said he hoped to utilize 130 million cubic feet per day of gas from the field by year-end, along with equipping power stations to process 100 million cubic feet […]
Major Sewerage Project launched in Baghdad
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani announced the start of work on the sewerage project in Al-Wahda district, located south of the capital Baghdad. This project is one of four strategic initiatives initiated by Al-Sudani to address sewerage issues in several areas of Baghdad province, exceeding a cost of one trillion dinars ($764 […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 16th May 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 1,810.8 1.6% 16.5% RSISX USD Index […]
Iraqi PM meets with KBR
By John Lee. Iraqi Prime Minister Mohammed Shiaa Al-Sudani received a delegation from the American engineering firm KBR on Thursday. The meeting included an overview of the company's operations in Iraq, particularly in collaboration with Iraqi oil companies in oil production and in maximising the capture of associated gas. Discussions also revolved around potential participation […]