Trade with Iraqi Kurdistan Increases
Nawzad Sheikh Kamil, Director General of Trade at the Ministry of Trade and Industry, said that the KRG exports in 2022, compared to 2021, increased to 672.767 million dollars and imports increased to 15.403 billion dollars. "In 2022, the Ministry of Trade and Industry issued 5,204 import licenses and 168 export licenses for various agricultural […]
US Firm Wins Aviation Maintenance Contract in Iraq
By John Lee. Maryland-based Amentum Services Inc. has been awarded a $10,000,000 modification (P00255) to contract W58RGZ-19-C-0025 for aviation maintenance services. Work will be performed in Iraq, with an estimated completion date of March 3, 2023. Amentum was created by the sale of AECOM's Management Services business to affiliates of Lindsay Goldberg and American Securities […]
US Removes some Iraqi Entities from Sanctions List
By John Lee. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has deleted the following Iraq-related entities from its Specially Designated Nationals (SDN) list: MIDCO FINANCE S.A. (a.k.a. MIDCO FINANCIAL S.A.; a.k.a. MONTANA MANAGEMENT INC.), 57 Rue du Rhone, Geneva CH-1204, Switzerland; Panama; US FEIN CH-660-0-469-982-0 (United States); Switzerland [IRAQ2]. MIDCO […]
Iraq's Tech Ecosystem "offers Bright Spot"
By Hassan Jivraj for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's tech ecosystem offers bright spot for private sector Despite numerous regional and country-specific challenges, Iraqi start-ups had a good year. Click here to read the full article.
Iraq Oil Exports for December Flat, but Revenue Down
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for December of 103,281,459 barrels, giving an average for the month of 3.332 million barrels per day (bpd), almost equal the 3.329 million bpd exported in November. The exports from the oilfields in central and southern Iraq amounted to approximately 100,735,151 barrels, while […]
$1.4m for Flood Defences in Erbil
KRG Prime Minister Masrour Barzani has approved the allocation of 1.985 billion Iraqi dinars [$1.36 million] to help reduce the impact of floods in the village of Grdjotiar near Erbil. This amount will be implemented in stages on the investment budget of the Ministry of Agriculture and Water Resources. (Source: KRG)
Georgia to open Consulate in Erbil
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi economic capital engulfed in trash, suffers from dilapidated electricity Georgian government plans to open an honorary consulate in Erbil in the near future to strengthen cultural and economic ties between Tbilisi and Erbil, […]
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 […]