Happy New Year from all at Iraq Business News!
As we kick off the new year with our first newsletter, we extend a heartfelt appreciation to all our contributors, with a special acknowledgment to our Expert Bloggers, Ahmed Mousa Jiyad and Ahmed Tabaqchali (AFC Iraq Fund), who have generously shared their wisdom and observations with us over the past twelve months. We eagerly anticipate […]
Iraq Aims for 6m bpd Oil Production in 5 Years
By John Lee. The Iraqi Ministry of Oil has said that plans are under way to increase oil production, with the aim of achieving a rate of 6 million barrels per day (bpd) within five years. The statement followed a meeting attended by the Undersecretaries of the Ministry, and a number of officials from key […]
Iraq Earns $8.3bn from Oil Exports in December
By John Lee. Iraq's Ministry of Oil has announced preliminary oil export figures for December: Total exports of crude oil: 108,056,590 barrels. Revenues from crude oil exports: $8.316 billion. Oil fields in central and southern Iraq accounted for 107,592,532 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. […]
$1.4m Contracts to Rehabilitate War-Damaged Shelters
By John Lee. Abeer Alshimal Company For General Contracting Ltd. has won a contract with the United Nations Office for Project Services (UNOPS) for the "Rehabilitation of 56 War Damaged Shelters in Ana & Haditha." The contract is valued at $295,593. Under the same reference, UNOPS granted Al-Fityan Company For General Contracts Ltd a contract for […]
Iraqi Cabinet Approves $736m Residential Project
By John Lee. In its first regular session of the year, the Iraqi Cabinet approved a $736,243,600 integrated residential project, to be constructed on parcels 25/12, 23/75, and 23/76 in District 21, Al-Salam, Baghdad. It granted approval for Ahl Al-Wafa Trading and General Contracting to implement the project and obtain the investment license for the […]
EY to Advise Iraq on Banking and Insurance Reforms
By John Lee. The Iraqi Cabinet has approved a series of contracts with UK-based professional services firm Ernst & Young (EY), aimed at reforming Iraq's banking and insurance sectors: The first contract involves a comprehensive study on the restructuring of the state-owned Rafidain Bank and Rasheed Bank, with recommendations and a roadmap expected within six […]
$1.9m Contract for Construction Housing in Anbar
By John Lee. Abeer Alshimal Company For General Contracting Ltd. has won a contract with the United Nations Office for Project Services (UNOPS) for the "Construction of Cat IV Housing Units in Karma, Fallujah and Ana in Anbar." The contract is valued at $1,871,889. (Source: UNGM)
Denmark gives Additional Support for De-Mining in Iraq
The Government of Denmark Provides Additional Contribution to UNMAS in Support of the Mine Action Sector in Iraq The United Nations Mine Action Service (UNMAS) in Iraq welcomes an additional contribution of DKK 22,000,000 (approximately USD 3,168,659) from the Government of Denmark, which will contribute to support the Government of Iraq (GoI) to protect civilians […]
Electricity Shortages: Protesters Block Sulaimani-Erbil Road
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Protesters block Sulaimani-Erbil road over electricity shortages The residents of over a dozen villages in the Khalakan area blocked cargo trucks' access to the main Sulaimani-Erbil highway on Tuesday, decrying the amount of subsidized […]
PetroChina Takes Over as Operator of West Qurna 1
By John Lee. Under the patronage of Oil Minister Hayyan Abdul Ghani, Basra Oil Company (BOC) organized a ceremony for the handover of the main operator role for the West Qurna 1 oilfield. The event, attended by the Ministry's Deputy for Extraction Affairs Basim Mohammed Khudair, marked the transfer of management responsibilities to China's PetroChina, […]
UN Awards $3m Iraq Maintenance Contract
By John Lee. The Abnaa al Abduly Company has won a contract with the United Nations Assistance Mission for Iraq (UNAMI) for: "Provision of Facilities Maintenance/repair and Ground Maintenance Services Within UNAMI Premises at the UNAMI Diwan Compound, Tamimi Compound, Transport Workshop and UNITAD Villa in International Zone, Baghdad, Iraq" The contract is valued at […]
Australian jailed in Iraq reaches 1,000-day Milestone
By John Lee. Australian engineer Robert Pether and his Egyptian colleague Khalid Radwan have now spent 1,000 days in prison in Iraq. The pair were detained in April 2021 by authorities in Baghdad in relation to a dispute over the construction of the new Central Bank of Iraq (CBI) headquarters in Baghdad. They have been […]