UN Responds to Iraq Bribery Allegations
By John Lee. The United Nations Development Programme (UNDP) has responded to a claim that large sums are being lost to corruption in Iraq as donors fail to track spending on post-war reconstruction. According to an article in the British newspaper The Guardian: "The alleged kickbacks are one of a number of claims of corruption […]
Jiyad: "TotalEnergies Agreement Smells Filthy - Part 2"
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. TotalEnergies Agreement Smells Filthy The more information becomes available about this agreement, the more it exposes the extent of unfairness and damage to Iraq national interest, and the deception or scandal of […]
Iraqi Cabinet Approves EUR 300m Deal with Austrian Firm
By John Lee. The Iraqi Cabinet has granted the Minister of Agriculture the authority to contract with the Austrian company Bauer for an amount of 300 million euros. The amount is to be converting to dollars and transferring it at the exchange rate of 1,300 Iraqi dinars. According to a statement from the Media Office […]
US Imposes Sanctions on Iraq's Fly Baghdad airline
By John Lee. The United States has imposed sanctions on the Iraqi airline Fly Baghdad, and on its CEO, Basheer Abdulkadhim Alwan al-Shabbani. In a statement on Monday, the Department of the Treasury's Office of Foreign Assets Control (OFAC) said the airline, "provid[ed] assistance to the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and its proxy […]
63 Arrested in raid on Iraqi Oil Smuggling Ring
By John Lee. Iraq's Oil Products Distribution Company, in collaboration with supporting security forces, have successfully broken an oil smuggling ring. According to a statement from the Ministry of Oil, a raid was carried out on a garage in the Khor Al-Zubair area, at which they seized 29 tankers loaded with oxidized asphalt [oxidized bitumen], […]
Iraq invites Atomic Energy Agency to Visit
By John Lee. Iraq's Deputy Prime Minister and Foreign Minister, Fuad Hussein, has met with Director General of International Atomic Energy Agency (IAEA), Rafael Mariano Grossi, at the Agency's headquarters in Vienna. The meeting was attended by permanent representative to the IAEA, Ambassador Bakr Fattah Hussein. During the meeting they discussed prospects for cooperation between […]
Shamaran, HKN to aquire TAQA's Interest in Atrush Oilfield
By John Lee. Canada's Shamaran Petroleum and US's HKN Energy are to aquire Abu Dhabi National Energy Company (TAQA)'s interest in the Atrush oilfield in Iraqi Kurdistan. In a regulatory statement on Monday, TAQA said: "... Abu Dhabi National Energy Company PJSC ("TAQA") has, through its wholly-owned subsidiary, TAQA International BV, entered into definitive agreements […]
KRG "to brief Oil Producers on Talks with Baghdad"
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG to brief oil producers on talks with Baghdad The natural resources ministry of the Kurdistan Regional Government (KRG) has invited international oil companies working in the Region to meet on Wednesday to discuss […]
Rafidain Bank Announces Third Series of Reconstruction Bonds
By John Lee. In a move to enhance the investment sector and align with the directives of the Ministry of Finance, Rafidain Bank has announced the issuance of the third series of reconstruction bonds for amounts of 500,000 and 1,000,000 Iraqi dinars. The bonds carry an annual interest rate of 6% and 8% for two […]
Strategic Meeting with Masdar to push Solar Projects in Iraq
By John Lee. Ziad Ali Fadel, Iraq's Minister of Electricity, chaired a strategic meeting with the Emirati company, Masdar, to move forward with the establishment of solar energy projects totaling 1,000 megawatts for the first phase. The meeting was attended by several advisors and general directors. The Minister stated that this meeting is a continuation […]
Prime Minister Opens New Bridge in Baghdad
By John Lee. On Saturday, Prime Minister Mr. Mohammed Shiaa Al-Sudani inaugurated the intersection bridge near the College of Fine Arts in the Rusafa district of Baghdad. This bridge is the first among the traffic congestion relief projects launched by him last year in the capital, Baghdad. T According to a statement from the Prime […]
Iraq, China to Meet regarding Development Road Project
By John Lee. Iraq's Minister of Transport, Razzaq Muhebess Al-Saadi, welcomed the Ambassador of the People's Republic of China, Mr. Tsui Wei, at the ministry's headquarters to discuss cooperation between the two countries. The minister expressed the desire to enhance the partnership with China, which he described as "a friendly country to Iraq both in […]