Automation causes Dramatically Increased Customs Revenues
By John Lee. Iraq's General Authority for Customs has announced a significane revenue increase for the first quarter of the current year, with expectations of doubling revenues upon completion of the automation project. The Authority's President, Hassan Al-Ugaili, told tate-run Iraqi News Agency (INA) that customs revenue increased by 28 percent from 2022 to 2023. […]
New Oil Concessions in Iraq: FULL LIST
By John Lee. Iraq's Ministry of Oil has concluded its fifth-plus and sixth oil and gas licensing rounds, with Chinese companies winning most of the fields awarded: Fifth-plus licensing round: Abu Khema: Zhenhua Oil Ad Daimah: KAR Group Alan: KAR Group Block 7: China National Offshore Oil Corporation (CNOOC) Dhufriyah: Anton Oil Fao: United Energy […]
Iraqi push to End UNAMI Mandate fuels Concern
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi push to end UNAMI mandate fuels concern over lack of oversight Baghdad is pushing to end the mandate of the United Nations Assistance Mission for Iraq (UNAMI), citing improved security conditions and […]
GKP launches Share Buyback
By John Lee. Gulf Keystone Petroleum (GKP) has provided an operational update and announced the launch of a share buyback programme of the Company's Common Shares for up to a maximum aggregate consideration of $10 million. Full statement fron GKP: Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, today […]
New Projects in Babil Worth $975m
By John Lee. Prime Minister Mohammed Shia al-Sudani announced the launch of new service projects in Babil province worth 1.276 trillion dinars [$975 million] during his visit on Thursday. The projects include: Comprehensive sewer, sanitation, and stormwater projects in the districts of Qassim, Hashimiyah, and Medhatiah, with a total budget of 364.5 billion dinars. A […]
Why Iraq Awarded Vital Gas Field to Ukrainian Firm
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Why Iraq Just Awarded A Strategically Vital Gas Field To A Ukrainian Firm Russia-aligned Iraq has awarded the development of a crucial gas field to a Ukrainian firm. The importance […]
Iran, Iraq Extend Gas Contract for Another 5 Yrs
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The CEO of the National Iranian Gas Company (NIGC) said the gas contract between Iran and Iraq, which would finish at the end of June 20, 2024, was extended […]
Trade Bank of Iraq to join My Account
By John Lee. The Trade Bank of Iraq (TBI) is joining My Account, the Kurdistan Region's "salary domiciliation program." A statement from the KRG said: "Following the instructions of Prime Minister Masrour Barzani, representatives from the Kurdistan Regional Government and My Account program held several meetings this week with representatives of the Trade Bank of […]
Etihad Food Industries opens New Factories in Babil
By John Lee. Prime Minister Mohammed Shia al-Sudani opened the new Etihad Food Industries flour mill in the city of Medhatiah [Madhatiya], in Babil Governorate, on Thursday. The project, a private sector initiative, aims to produce up to one million tons per year of high-quality zero-grade flour. The prime minister also opened new production lines […]
$1.7m Contracts for Rehabilitation of Shelters in Fallujah
By John Lee. Al-Amar Al-Hadeth for General Constructional Contracting has won a series of contracts with the United Nations Office for Project Services (UNOPS), for the rehabilitation of war damaged shelters in Fallujah: Rehabilitation of 92 war damaged shelters in Al Chaffa. Contract value $695,001; Rehabilitation of 100 war damaged shelters in Albo Hawa & […]
Erdogan's Visit to Iraq prioritizes Economy over Politics
By Zaher Mousa, for The Cradle. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Erdogan's 'historic' visit to Iraq prioritizes economy over politics No politics: The Turkish President's trip to Iraq instead marks a strategic shift toward strengthening economic ties and pragmatic cooperation […]
Plans for Mosul Expansion spark talk of 'Demographic Change'
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Plans for Mosul expansion spark talk of 'demographic change' In March this year, Nineveh Governor Abdul Kader Al-Dakhil signed a contract with Italian engineering company SGI [Studio Galli Ingegneria] to initiate a long-stalled project […]