Iraq's Oil Boom blamed for Water Crisis in Basra
By Sara Manisera and Daniela Sala in Al Khora, for The Guardian. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's oil boom blamed for worsening water crisis in drought-hit south Pollution from gas flaring - the burning of natural gas associated with […]
Natural Gas Liquefaction Plant opens at Rumaila
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani has opened the first phase of the natural gas liquefaction plant project at Rumaila oil field. The project aims to utilize associated gas, and has a capacity of 200 million cubic feet per day in the first phase. By the end of this year, the project's […]
New Dairy Factory Opened in Erbil
By John Lee. The Kurdistan Region Prime Minister, Masrour Barzani, has launched Zom, the largest dairy factory in the Mergasor district of Erbil Governorate. During the opening ceremony, the Prime Minister proudly announced that under the KRG's ninth cabinet, pastoral farming projects have experienced a significant 75-percent increase. Currently, there are 87 such projects in […]
Farmer Organization Models and Cooperatives in Iraq
Stakeholders from across the spectrum shed light on farmer organization models and cooperatives in Iraq and their role in supporting the development of the agricultural sector An event was held by partners implementing the European Union Agri-food Business Development Programme (AfBDP) in Baghdad on Monday (May 29) to discuss the development of farmers' organizations and […]
IMF Forecasts Growth in Iraq's Real Non-Oil GDP of 3.7%
By John Lee. The International Monetary Fund (IMF) has forecast growth in Iraq's real non-oil GDP 3.7 percent in 2023. Following a recent visit to Iraq, the IMF team also predicts inflation of 5.6 percent in for the year. Full statement from IMF: A staff team of the International Monetary Fund (IMF) led by Tokhir […]
Iraq Reaffirms OPEC+ Cuts to Oil Production
By John Lee. Iraq's Minister of Oil has affirmed Iraq's commitment to the OPEC+ agreement and the extension of the voluntary cut in oil production that was approved in April for the year 2023. Speaking at a press conference following the OPEC+ meeting in Vienna, Hayan Abdul-Ghani said Iraq will continue its voluntary reduction of […]
$1bn Saudi Investment near Baghdad Airport
By John Lee. The Saudi ambassador to Baghdad, Abdulaziz Al-Shammari (pictured), has revealed the signing of a contract between Saudi Arabia and Iraq for a significant investment project near Baghdad International Airport (BIAP). In a statement to the state-run Iraqi News Agency (INA), Al-Shammari said the contract involves an investment of up to one billion […]
KRG Launches Business Registration System
The Kurdistan Regional Government (KRG) has launched an online portal to streamline and expedite the registration process for businesses. This initiative aims to reduce costs and simplify procedures, making it easier for entrepreneurs to establish their companies in the region. With the new online system (business.digital.gov.krd), business owners can conveniently submit their applications from anywhere […]
Iraq Oil Exports for May: $7.3bn
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for May: Total exports of crude oil in May: 102,463,387 barrels Revenues from May's crude oil exports: $7.306 billion Oil fields in central and southern Iraq accounted for 102,206,413 barrels of May's crude oil exports. Exports from Kirkuk through the port of Ceyhan […]
Iraq "Is Quietly Falling Apart"
By Michael Knights, for Foreign Affairs. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq Is Quietly Falling Apart Iran's proxies have seized power in Baghdad, and are gutting the state. Click here to read the full article.
Iraq: 643 Abducted by Govt-Linked Militias in 2016
By Amnesty International. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq: Authorities must act to reveal fate of 643 men and boys abducted by government-linked militias The Iraqi authorities must take concrete action towards revealing the fate and whereabouts of at least 643 […]
$17bn "Development Road Project" Launched by Iraqi Govt
By John Lee. The government of Iraq announced more details this week on its plans to create a transport corridor between the Persian Gulf and the Mediterranean Sea coast in Turkey. The 1,200-kilometer "development road project", sometimes referred to as the "dry canal project", will link Iraq's Grand Faw port, which is still under construction, […]