IDC Completes Oil Well at East Baghdad Field
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the drilling of oil well EBS-64 as part of the contract with the Chinese company Zhenhua, aiming to drill 27 oil wells at the East Baghdad field. The operation, conducted in collaboration with China Oilfield Services Limited (COSL), a division of the China National […]
Overlap Between the Islamic Resistance of Iraq and Militias
By Ameer al-Kaabi, 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. Overlap Between the Islamic Resistance of Iraq and the Popular Mobilization Forces The Islamic Resistance of Iraq mourned the loss of members of the Iraqi […]
GKP Trades Lower following Update
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading down around 5 percent on Wednesday afternoon following an update from the company. It said that local market demand remains difficult to predict, and while discussions are ongoing, there is still no official timeline for the reopening of the Iraq-Turkey Pipeline (ITP). Full statement […]
Iraq to establish 44 New Pharmaceutical Factories
By John Lee. Iraq plans to establish 44 new pharmaceutical factories across the country. Hamoudi Al-Lami, an advisor to the Prime Minister, told the state-run Iraqi News Agency (INA) that 25 of the factories will be in Baghdad, while the remaining facilities are spread across different provinces, including Kirkuk, Erbil, Basra, Karbala, and six in […]
Iraq Seeks US Assistance in Tracing Funds from Pre-2003
By John Lee. Judge Haider Hanoun, the head of Iraq's Integrity Commission, has met with an American delegation to explore the possibility of a memorandum of understanding between Iraq's Asset Recovery Fund and the US Treasury. The meeting, held at the US Treasury headquarters, aimed to address Iraq's need for assistance in determining the fate […]
IDC Completes Directional Oil Well for Basra Oil Company
By John Lee. The Iraqi Drilling Company (IDC) has accomplished the drilling of the directional oil well MJ-159 in collaboration with Halliburton, as part of the project to drill 42 oil wells in the Majnoon Oilfield for Basra Oil Company (BOC). Mr. Muhannad Maki Tarash, the Director of the First Operations Department at the company, […]
Iraqi Chamber of Commerce explores Collaboration with UK
By John Lee. A delegation from the Federation of Iraqi of Chambers of Commerce (FICC), led by Abdulrazzaq Al-Zuhairi, held a meeting with the Iraqi Ambassador to London, Mohammed Jafar Al-Sadr, at the Iraqi Embassy in London. The meeting, attended by Deputy Head of the State Council Dr. Abdul Latif Naif, Dr. Najib Shakir Mahmoud, […]
WesternZagros Resources joins APIKUR
By John Lee. WesternZagros Resources has joined the Association of the Petroleum Industry of Kurdistan (APIKUR), becoming its seventh member. According to a statement from APIKUR: WesternZagros is a privately held American owned company with offices in Calgary, Canada, and in Erbil and Sulaymaniyah in the Kurdistan Region of Iraq. It has invested over $1 […]
Azerbaijan to Share SME Experience with Iraq
By John Lee. A memorandum of understanding has been signed between the Small and Medium Enterprise Development Agency (KOBIA) of Azerbaijan and the Federation of Iraqi Industries, fostering collaboration in the provision of services to small and medium enterprises (SMEs). The agreement was formalized during the 3rd session of the Joint Commission for Economic, Scientific, […]
Iraq "Rejects" Phase Out of Fossil Fuels
By John Lee. At the COP28 conference in Dubai, Iraq will reportedly not agree to a phasedown or phaseout of fossil fuels, while it has already begun with steps to reduce emissions. An adviser to Iraq's oil ministry told S&P Global Commodity Insights at COP28 in Dubai that Iraq will agree to phase down emissions, […]
IBBC's Two-Day Conference Success: 'Building a Sustainable Future for Iraq'
From the Iraq Britain Business Council (IBBC): IBBC's two-day conference success 'Building a sustainable future for Iraq'. IBBC held an expanded two- day conference in Dubai to coincide with Cop 28 to focus on 'a sustainable future for Iraq', with one day dedicated to Education and Training and one for Business, Investment, and Energy. IBBC […]
JICA Renews Commitment to Development in Iraq
JICA renews commitment to boost infrastructure projects for transformative development in Iraq The United Nations Development Programme (UNDP) in Iraq and Japan International Cooperation Agency (JICA) Iraq Office renewed its long-standing, partnership agreement related to the establishment of socio-economic infrastructure projects in Iraq, with the support of the Government of Iraq (GoI). This agreement is […]