New GRP Pipe Production Facility in Basra
By John Lee. Iraq's Prime Minister, Mr. Mohammed Shiaa Al-Sudani, officially opened a Glass Reinforced Plastic (GRP) pipe manufacturing plant in Basra during his visit to the province recently. The Prime Minister emphasized that the Al-Narges [Narjis] Pipe Factory, with its modern machinery, inspection equipment, raw materials, and associated technologies, is the first of its […]
New Well Completed at Nasiriya Oil Field
By John Lee. Iraqi drilling experts at the Iraqi Drilling Company (IDC) have successfully completed the drilling of oil well 61, reaching a depth of 2096 meters in the Nasiriya oil field. This achievement marks the fifteenth well completed by the company under the contract signed with Dhi Qar Oil Company (DQOC) to drill a […]
AAA Holding Group ushers in New Era of Agricultural Advancement in Iraq
"AAA Holding Group, Led by CEO Amet Selman, Ushers in a New Era of Fertilizer and Agricultural Advancement in Iraq " AAA Holding Group, under the visionary leadership of CEO Amet Selman (pictured), in collaboration with the State Company for Fertilizer Industry, is set to redefine agricultural standards in Iraq with a groundbreaking initiative. The […]
Iraq Reopens Safwan Border Crossing with Kuwait
By John Lee. Iraqi Prime Minister Mohammed Shiaa Al-Sudani officially reopened the Safwan Border Crossing with Kuwait on Saturday after extensive renovations aimed at increasing capacity and efficiency. During his visit, Prime Minister Al-Sudani toured the facility, inspected its operations, and met with travelers from Gulf Arab countries, instructing officials to facilitate the entry of […]
Foundation Laid for Water Treatment Project in Al-Zubair
By John Lee. Prime Minister Mohammad Shiaa Al-Sudani has laid the foundation for a water treatment project in Al-Zubair District, Al-Basra Governorate. The project, with an initial capacity of 140,000 cubic meters per day, aims to address salinity issues in the region. Additionally, a tri-treatment station with a production capacity of 4,000 cubic meters per […]
Tabaqchali: Banks to Fuel the Iraqi Market's Next Phase
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Banks to Fuel the Market's Next Phase The market, as measured by the Rabee Securities RSISX USD Index, was up 16.3% for the month and up 65.5% […]
Iraqi Oil Revenues Up Again in August
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for August: Total exports of crude oil: 106,122,874 barrels Revenues from crude oil exports: $8.846 billion Oil fields in central and southern Iraq accounted for 105,236,963 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. Oil […]
Iraq Approves Final Settlement with ExxonMobil
By John Lee. The Iraqi Ministry of Oil has received approval from the Ministerial Energy Council (Recommendation 23067/T) for a final settlement with ExxonMobil. This settlement, known as the "Settlement Agreement," resolves longstanding disputes arising from the service contract for the West Qurna oilfield project between Basra Oil Company (BOC) and US-based oil giant. The […]
Iran's Exports to Iraq Up 18.5%
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iran's Exports to Iraq to Hit $12 Billion by Yearend: Secretary General Iran's exports to Iraq in the first five months of the current Iranian calendar year rose by […]
Work Starts on Iran-Iraq Rail Link
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani laid the foundation stone for the new rail link between Basra and the Iranian city of Shalamcheh (Shalamjah) on Saturday. This project aims to facilitate the movement of pilgrims and passengers between Iraq and Iran. The ceremony was attended by Iran's First Vice President, Mohammad Mokhber. […]
Iraq-China Trade tops $48bn in 2022
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq-China trade volume tops $48bn in 2022 The trade volume between Iraq and China exceeded $48 billion in 2022, as the two countries are trying to cement commercial ties in all sectors. The remarks […]
Saudi Airline announces Jeddah to Baghdad Route
By John Lee. Saudi Arabian budget airline Flynas has announced that it will resume its direct flights to Iraq. Starting on Friday 1st September, the company will operate three direct flights every week between Jeddah to Baghdad. Flynas, formerly called Nas Air, was founded in Riyadh in 2007. (Source: Flynas)