SEPC completes $236m Al Qibla Project in Iraq
By John Lee. Indian engineering firm SEPC Ltd. (formerly Shriram EPC) has announced that it has successfully completed the Integrated Al Qibla Project in Basra, Iraq, for $236 million. The scope of work involved engineering, supply, and installation of primary sanitary sewer system, storm sewer system, trunk sewer system with connected pumping station and road […]
Successful First Coring Op in East Baghdad Field
By John Lee. The Iraqi Drilling Company (IDC) has successfully conducted the first coring operation in the Southern part of the East Baghdad Field, specifically in the Hartha Formation. EBS Petroleum, the Chinese field operator, reported that through the detailed analysis of the oil and gas evidence from the core samples, achieving a 100% success […]
Delegation from JP Morgan visits Iraq
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani met with a delegation from J.P. Morgan Bank, including Daniel Zelikow, Vice Chair, and Mr. Ghali Laraki, Head of MENA Public Sector Group. The meeting focused on supporting Iraq's banking sector, the Central Bank of Iraq (CBI), and the private sector. Discussions also touched on international […]
Flights between Iraq and Georgia Resume after 9 Years
By John Lee. Iraqi Airways has resumed flights between Iraq and Georgia after an absence of nearly nine years. The first flight on the Baghdad-Erbil-Tbilisi route took off on Thursday. Flights will be weekly (Thursdays) initially, with the hope to eventually increase the frequency. (Source: Iraqi Airways)
Iraqi Parliament Approves Record Budget Spending
By John Lee. The Iraqi parliament has approved a record budget of 198.9 trillion dinars [$152 billion] for 2023, following four days of debate. According to Al Jazeera, the planned fiscal deficit is 64.36 trillion Iraqi dinars [$49 billion], more than double the amount in the 2021 budget. The budget assumes an oil price of […]
Work Begins on Iraq-Saudi Interconnector
By John Lee. The Iraqi Minister of Electricity, Ziyad Ali Fadel, has attended the ceremony to mark the start of work on the electrical interconnector between Iraq and Saudi Arabia. The 1GW line will connect between the Saudi city of Arar and Yusufiya in western Baghdad. GCC Interconnection Authority (GCCIA) hosted the event in Dammam, […]
CBI to Pay $13m in Billing Dispute over New HQ
By John Lee. The Central Bank of Iraq (CBI) has reportedly been ordered to pay $13 million to Abu Dhabi-based Cardno ME (CME), relating to a dispute over the construction of its new headquarters in Baghdad. The International Chamber of Commerce (ICC)'s International Court of Arbitration is said to have made the ruling in February, […]
Iraqi Militias "Copying their Overmighty Cousins in Iran"
From The Economist. The Iraqi militias are copying their overmighty cousins in Iran Democracy is being undermined by gunmen attached to political parties. Read the full article here (subscription needed).
Iraq's First Female Ambassador to Saudi Arabia
By Sinan Mahmoud for The National. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Who is Iraq's first female ambassador to Saudi Arabia? Safia Al Suhail, an experienced Iraqi politician and former ambassador in Rome and Amman, made history on Monday as she […]
Blue Water opens its First Office in Iraq
By John Lee. Danish logistics company Blue Water has opened its first office in Iraq. In a statement, the company said that the addition of the new office in Basra will strengthen the company's presence in the region. It is staffed by a newly-employed local team, headed by General Manager, Marwa Saad. Read our comprehensive […]
US Watches as PMF Consolidates Dominance in Iraq
By David Schenker, 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. Washington Keeps a Watchful Eye as the PMF Consolidates Its Dominance in Iraq The Biden administration's low-key, patient approach with Prime Minister Sudani has produced […]
Minister Pushes TotalEnergies' Solar Project
By John Lee. Iraq's Minister of Electricity, Ziad Ali Fadel, held a meeting with TotalEnergies' Director for renewable energy affairs in Iraq, Mr. Khaled Al-Abdali, to discuss the company's procedures for the construction of a 1,000-megawatt solar power station at the Ratawi [Artawi] oil field in Basra. The meeting was attended by the Director General […]