Iraqi Cabinet pushes for State Contracts in Dinars
By John Lee. As part of financial and economic reforms, the Iraqi Cabinet has endorsed recommendations to conduct all state contracts within Iraq in Iraqi dinars. There will be exceptions for ongoing external grants, loans, and agreements, and new contracts involving foreign grants, loans, and agreements may adhere to agreed-upon foreign currency terms, as specified […]
Russia "Takes Control of Iraq's Biggest Oil Discovery for 20 Years"
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. Russia Takes Control of Iraq's Biggest Oil Discovery for 20 Years The Eridu field - part of Iraq's Block 10 exploration and development region - is the biggest oil find […]
General Dynamics wins new Iraq Defense Contract
By John Lee. General Dynamics Land Systems, Sterling Heights, Michigan, was awarded a $15,992,597 modification (P00006) to contract W56HZV-21-C-0072 for contractor logistics support services for the M1A1SA/M88. Work will be performed at Camp Taji, Iraq, with an estimated completion date of Dec. 13, 2023. According to the United States Army Acquisition Support Center (USAASC), the […]
Iraq Finalises October Oil Sales
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for October: Total exports of crude oil: 109,545,589 barrels. Revenues from crude oil exports: $9.594 billion, the highest since July 2022. Oil fields in central and southern Iraq accounted for 108,050,360 barrels of crude oil exports. Exports from Kirkuk through the port of […]
Conference on Iraq's Five-Year Development Plan
By John Lee. The Economic Relations Department of Iraq's Ministry of Trade participated in the first conference to formulate Iraq's five-year national development plan. The event, held in Baghdad and attended by the Prime Minister, focused on collaborative efforts for the nation's developmental future under the theme "Working Together to Shape Iraq's Development." Director General […]
Korek External Telecommunications "Operational"
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Korek Telecom external telecommunications operational, says company rep The Kurdistan Region's premier telecommunications company, Korek Telecom, has announced that its international and cross-company communications are now operational and that it has resolved its issues […]
Collaborating to Ensure a Polio-Free Iraq
Environmental surveillance network training: WHO Iraq and federal ministries collaborate to ensure a polio-free Iraq The World Health Organization (WHO) in Iraq, in close collaboration with Iraq's Ministry of Health (MOH) and Ministry of Environment (MOE), has concluded a successful 4-day training programme on the environmental surveillance network for poliovirus monitoring and detection. This initiative […]
New Iraq-China Business Council to foster Trade, Investment
By John Lee. Iraq and China have set the Iraq-China Business Council, with a view to increasing trade and investment between the two countries. With trade valued at around $53 billion in 2022, according to a statement from Iraq's Ministry of Trade, China is Iraq's largest trading partner. Full statement from the Ministry of Trade: […]
Inaugural Meeting to study Iraqi-Saudi Border Economic Zone
By John Lee. Iraq's Minister of Industry has chaired the inaugural meeting of the committee studying the establishment of an Iraqi-Saudi border economic zone. The meeting included representatives from the Ministries of Trade, Planning, and Oil, and addressed the committee's tasks and decisions related to setting up the economic zone. Parallels were drawn with the […]
Iraqi PM Accepts Resignation of Nineveh Governor
By John Lee. On Sunday, Prime Minister Mohammed Shia al-Sudani accepted the resignation of Nineveh Governor, Najm Abdullah Abdul Jabouri. Jabouri submitted his resignation after the parliament rejected the Cabinet's recommendation, made last October 17, to exclude him from accountability measures under Article 12 of Law No. 10 of 2010, governing the National Accountability and […]
Iraq: Climate Change Causing Crop Loss
Iraq: Climate change causing crop loss, contributing to secondary displacement Climate change in Iraq is impeding the economic recovery of communities affected by conflict and precipitating risks of secondary displacement, as 60 per cent of farmers struggle with water shortages and reduced crop yield, according to a new report published by the Norwegian Refugee Council […]
$1m Consultancy Contract for Iraq-Saudi Electricity Link
By John Lee. The Iraqi Cabinet has endorsed the Energy Ministerial Council's recommendation (No. 23091 for 2023) concerning the Iraq-Saudi Electricity Link project. According to a statement from the Media Office of the Prime Minister, the key points include: Awarding the consultancy services for the Iraq-Saudi Electricity Link project to Terta Tech [Tetra Tech?] at […]