Dinar-Dollar Exchange Rate: Iran War has Little Impact
By John Lee. In his latest monthly investment report for Iraq Business News, Ahmed Tabaqchali shows that the gap between the parallel and official exchange rates for the Iraqi dinar (IQD) had already been rising before the U.S.-Israel war on Iran started, due to domestic customs policy changes making it harder for informal importers to […]
Trial Ops Begins at 1GW Basra Solar Project
By John Lee. Trial operation has begun on the first generating unit of the Shams Al-Basra solar power project, the largest solar energy scheme in Iraq, with a total planned capacity of 1,000MW. The project, located in the Artawi [Ratawi] area of Basra province, covers approximately 9,000 dunams and comprises four units, each with a […]
Exceptional Customs Measures Introduced to Ease Port Congestion
By John Lee. Iraq's General Customs Authority has announced temporary exceptional measures to accelerate the flow of goods and reduce congestion at ports. According to state-run Iraqi News Agency (INA), the authority said the measures were adopted in line with directives from Prime Minister Mohammed Shia Al-Sudani and in response to exceptional regional conditions affecting ports […]
Reduced Gas Supplies Leave 6-6.5GW Generation Gap
By John Lee. The Ministry of Electricity has confirmed that imported gas supplies from Iran are continuing at a reduced level of six million cubic metres per day (6mcm/d). Official spokesperson Ahmed Mousa Al-Abadi said the current volumes remain below contracted levels and continue to affect generation units and power stations. He noted that milder temperatures […]
16 Oil Wells Drilled and Rehabilitated in February
By John Lee. The Iraqi Drilling Company (IDC) completed the drilling and rehabilitation of 16 oil wells in February 2026 for national and international operators working in Iraq. The works included: Drilling of three new wells; Rehabilitation of 13 existing wells. Director General Mohammed Hantoush said the operations were carried out in line with approved technical […]
Iraqi Airspace to Remain Closed Until Saturday Noon
By John Lee. Iraqi Civil Aviation Authority (ICAA) has extended the closure of Iraqi airspace to all arriving, departing and transit aircraft until 12:00 noon on Saturday. The authority said the decision was taken as a temporary and precautionary measure, based on an ongoing assessment of the security situation and in light of regional developments […]
Accountability for Killing of Women's Rights Activist
From Amnesty International. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq: Ensure accountability for killing of women's rights activist Yanar Mohammed Responding to the killing of prominent Iraqi women's rights activist Yanar Mohammed, who was shot by unidentified gunmen on a motorcycle outside her […]
Hormuz Closure: Iraq Oil Production Down, but Refineries Operating
By John Lee. The Iraqi Cabinet has authorised the Ministry of Oil to exercise the necessary powers to address a potential crisis in crude oil and petroleum product exports resulting from the closure of the Strait of Hormuz. The decision relates to anticipated disruptions to export operations and is intended to enable the Ministry to […]
How Chevron's New Deals Could Transform Iraqi Oil
By Simon Watkins for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. How Chevron's New Deals Could Transform Iraq's Production Outlook The very recent signing of two sets of major oil deals by U.S. oil giant Chevron following the forced withdrawal of Russian […]
Baghdad to Host Arab Entrepreneurship Summit 2026
By John Lee. The Council of Ministers has approved the holding of the Arab Entrepreneurship Summit 2026 in Baghdad in November 2026. The cabinet also agreed to form a preparatory committee, chaired by the Minister of Planning and comprising relevant entities, to oversee arrangements for the summit. (Source: PMO)
Silo Manufacturing Inspected in Switzerland
By John Lee. A delegation from the Ministry of Trade has visited the manufacturing facilities of Bühler Group in Switzerland to review progress on the five metal silos project. The visit focused on overseeing production stages and monitoring implementation of the electromechanical equipment and materials designated for the scheme. The delegation was headed by Dr […]
The Changing Perceptions of Iraq
From the Iraq Britain Business Council (IBBC): You could be forgiven for thinking that Iraq is only dependant on oil and is a country struggling with conflict. However, reality has moved on from old perceptions and scarcely reflect the recent changes and dynamics that are tangible and progressing well. With a stable economic and political […]