Iraq Committed to Building Fleet of Oil Tankers
By John Lee. Iraq's Minister of Oil, Hayan Abdul Ghani, has affirmed the Ministry's commitment to building a fleet of oil tankers. His statement came during a meeting with the Chairman of the Norwegian company Batservice Mandal [Båtservice Mandal AS], Bjørn Fjellhaugen, and the accompanying delegation. The Minister praised the role of Batservice, in cooperation […]
Why Iraq's Dinar is Trading Below Official Rate
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Why Iraq's dinar is trading below official dollar rate amid new restrictions A top US official visited Iraqi officials last week to discuss countering illicit finance and strengthening Iraq's […]
Jiyad: Iraq Oil Exports 2023 - Budget vs. Realities
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq Oil Exports 2023 - Budget vs. Realities Iraq's Budget for 2023, part of an extended federal budget covering three years of 2023 to 2025, became effective on 26 June, while the […]
New Industrial City to be built in Basra
By John Lee. A committee of the Ministry of Industry has approved a plan to build an industrial city at the site of the General Company for Iron and Steel in Basra. According to a statement from the Ministry, the new development will be built in collaboration with a Chinese company, and based on the […]
8 Iraqi Banks "Banned from Transacting in US Dollars"
By John Lee. Various media sources say that Iraq has banned eight local commercial banks from making transactions in U.S. dollars. This precludes these banks from taking part in the Central Bank's daily dollar auction. The banks are reported to be: Ashur International Bank for Investment; Investment Bank of Iraq; Union Bank of Iraq; Kurdistan […]
UNOPS awards Contract for Treasury Management Sys in Iraq
By John Lee. US-based Cdata Software has won a contract with the United Nations Office for Project Services (UNOPS) for, "provision of integration solutions for the Treasury Management System (Licenses Renewal)." The contract is valued at $32,498. (Source: UNGM)
GKP announces Management and Board Changes
By John Lee. Gulf Keystone Petroleum (GKP) has announced management and board changes as follows: Ian Weatherdon to retire as Chief Financial Officer (CFO); Gabriel Papineau-Legris, currently Chief Commercial Officer (CCO), to replace Weatherdon as CFO; Kimberley Wood, Senior independent Director, resigns from the Board due to other commitments. Full statement from GKP: Management & […]
Iraq's 4th Mobile Phone Service to Start "Soon"
By John Lee. Iraq's Communications and Media Commission (CMC) has reportedly said that Iraq's fourth mobile phone service will start "soon." State-run Iraqi News Agency (INA) quotes the head of the Commission, Ali Al-Moussawi, as saying: "The [license was granted] to Al-Salam Company, affiliated with the Ministry of Communications, and work is ongoing with close […]
Turkiye, Iraq to open New Offices for Development Road Project
By John Lee. Turkiye's Transportation and Infrastructure Minister, Abdulkadir Uraloğlu, met with the official delegation led by the Iraqi Minister of Transport, Razzaq Muhebess Al-Saadi, on Friday. Minister Uraloğlu stated that they discussed regional issues and cooperation on the Development Road project. He emphasized the significant progress made in both the railway and highway phases […]
Developing Residential Area for Returnees in Mosul
UN-Habitat and the Government of Japan are collaborating to develop the residential area designated for returnees under Mosul's Master Plan The United Nations Human Settlements Programme (UN-Habitat) welcomes renewed collaboration with the Government of Japan to develop peacebuilding activities and durable solutions in Northern Iraq, with a focus on assisting returnees from Mosul, one of […]
China poised to take Further Control of Iraq Oil Assets
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. China Poised To Take Further Control Of Iraq's Key Southern Oil Assets China is over the halfway mark in completing its strategically vital oil project in the critical Iraqi energy […]
Two Tough Scenarios for U.S.-Iraq Relations
By Bilal Wahab 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. Two Tough Scenarios for U.S.-Iraq Relations Washington's ever-narrowing Iraq policy has left it with unpalatable choices, but muddling through is a better short-term option than […]