Iran "moves to Consolidate Grip on Iraq's Oil Sector"
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. Iran Moves To Consolidate Its Grip On Iraq's Oil Sector Iran has long held enormous political, economic, and military sway over neighbouring Iraq through its various military and political proxies, […]
Germany supporting Capacity-Building in Iraq
Germany helps WFP support Iraqis affected by conflict and climate crisis through resilience-building activities The United Nations World Food Programme (WFP) welcomed a generous contribution of EURO 22.5 million (US$23.9) from Germany to support capacity-building activities in coordination with the Iraqi Government, as well as empowering youth through vocational training and assisting vulnerable communities in […]
KRG Invested $2bn in 89 Investment Projects
89 investment projects worth over $2 billion have been implemented this year The implementation of investment projects in various sectors was one of the priorities of the Ninth Cabinet of the Kurdistan Regional Government (KRG). In 2022, the implementation of 89 investment projects began, with a capital of 2 billion and 135 million and 418 […]
Mediterranean Refiners look to Iraq
By Elena Mataro for Argus Media. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. The EU's ban on Russian seaborne crude imports has opened the door to an increased flow of sour Middle East grades into the Mediterranean. Iraq's Basrah grades have already […]
Turkish Firm installs Concrete Plants in Iraq
By John Lee. Turkish company Elkon has said it has completed the installation of three concrete batching plants in Iraq. The installations are located in Baghdad, Diwaniya and Kut: Baghdad: Elkomix-135 Quick Master Compact Concrete Plant commissioned in Baghdad produces 3.33 m³ of vibrated concrete in each cycle with the ELKON twinshaft mixer with a […]
Japan Funds Development of Basra Refinery
By John Lee. Iraq and Japan have signed a memorandum granting a Japanese loan for the Basra Refinery Development Project (Phase IV). The agreement was signed on Wednesday by Iraq's Minister of Finance, Taif Sami Mohammed, the Chargé d'Affaires of the Japanese Embassy in Baghdad, Masamoto Kenichi, and the Executive Director of JICA Iraq Office, […]
Plans to Increase Oil Production at Rumaila
By John Lee. The Iraqi Minister of Oil, Hayan Abdul-Ghani, has said that Iraq wants to increase production capacity of the giant Rumaila oilfield by 300,000 barrels per day (bpd). This would give it a potential output of 1.7 million bpd. He made the statement during his visit to to the field earlier this week, […]
UAE invests in Kurdistan's Agriculture and Livestock Sectors
UAE invests in Kurdistan Region's agriculture and livestock sectors The Kurdistan Regional Government's (KRG) Investment Board met with a delegation from the Emirati Al Abrar Company to discuss enhancing cooperation in the Kurdistan Region's agriculture and livestock sectors. "In the past, we have we conducted more than 10 research projects in the Kurdistan Region for […]
Iraqi Company Completes Purchase of Romanian Power Plant
By John Lee. Iraq's Mass Group Holding has completed its purchase of a power plant in Romania on Tuesday (27th December). According to a statement from the administrator, Expert Insolventa SRL, the company has bought the Mintia thermal power plant (pictured) from Complexului Energetic Hunedoara SA for 91.2 million euro ($91 million) in a public […]
PM urges CBI to halt Fall in Iraqi Dinar
By John Lee. Prime Minister Muhammad Shia Al-Sudani has urged the Central Bank of Iraq (CBI) to sell foreign currency at official prices to citizens through purchasing with electronic cards, opening sales outlets for travelers, or clients outside Iraq, or financing foreign trade. The order came at a meeting with the Governor of the CBI, […]
Iraq Confirms November Oil Exports
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for November of 99,868,029 barrels, giving an average for the month of 3.329 million barrels per day (bpd), up from the 3.282 million bpd exported in October. The exports from the oilfields in central and southern Iraq amounted to approximately 97,204,696 barrels, while […]
KCA Deutag to Drill more Wells in Kurdistan
By John Lee. Scottish-based KCA Deutag, the global drilling, engineering and technology provider, has secured contract awards and extensions in Oman, Northern Iraq and Europe worth more than $85 million. The work, in Kurdistan, involves the company's T63 rig drilling two wells, with two more optional wells. (Source: KCA Deutag)