KRG launches two Electricity Projects worth $1.2m
By John Lee. The Kurdistan Regional Government (KRG) has recently launched what it describes as "two massive electricity projects" in Makhmour. They are the Bnar power station, built by the Girshin Company, and a 33 KV power-line at Qaraj, implemented by Palos. The projects have a combined cost of 1.742 billion dinars [$1.2 million]. (Source: […]
Lebanon, Iraq discuss Cooperation in Trade
By John Lee. The Iraqi-Lebanese Business Conference has been held in Beirut, under the auspices of the Lebanese Minister of Industry. The meeting discussed the promotion of trade in areas such as agriculture, industry and tourism. A representative of Beirut's Chamber of Commerce, Industry and Agriculture said that the Lebanese private sector is always ready […]
Iraq's Election "will produce more of the same"
By Nussaibah Younis, for the European Council on Foreign Relations (ECFR). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's parliamentary election will produce more of the same It is important for Europeans to be realistic about the Iraqi government's ability to enact […]
Iraq Petroleum Sector Chronicle
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi economy structure is lopsided with heavy dependency on export of natural raw material, i.e., crude oil. The modest unbalanced growth that was accumulated by the end of 1970s began eroding […]
Iraq OKs talks with Chevron on Oil Exploration
By John Lee. Iraq's Ministerial Energy Council approved discussions with US-based Chevron on the development of four exploration blocks in Dhi Qar. The statement from Iraq's Ministry of Oil gave no further details, but the project had previously been discussed during Prime Minister Mustafa al-Kadhimi's visit to the United States in August. Chevron currently has […]
Sonangol meets with INOC to discuss Production at Qayara
By John Lee. The President of the Iraqi National Oil Company (INOC), Oil Minister Ihsan Abdul-Jabbar Ismail, has chaired a meeting with the CEO and management of Angola's Sonangol, the main operator of the Qayara [Qayyarah] oil field in Nineveh Governorate. Also joining the meeting was the management of the North Oil Company (NOC) and […]
Renad Mansour: Iraqi Elections still Do Not Deliver Democracy
By Dr Renad Mansour, for Chatham House. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi elections still do not deliver democracy As Iraqis head to the polls on 10 October, the headline for this election likely will be less about winners and losers […]
Petrofac Fined $105m; Shares Rally Further
By John Lee. Shares in Petrofac were trading up more than 7 percent on Monday, as the company was ordered to pay GBP 77 million [$105 million] after the UK's Serious Fraud Office (SFO) secured further convictions in its investigation into bribery and corruption at the Jersey-registered energy services company. On Friday, Petrofac Limited pleaded […]
$250m Wheat Marketing Center Opened in Erbil
By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG) has opened a new wheat marketing center in Erbil, a year after announcing the project. In a statement on Twitter, Masrour Barzani said: "In less than a year, we are back to inaugurate the $250-million wheat marketing project in Erbil. A great new […]
Iran Ready to Extend Gas Export Deal with Iraq
By John Lee. The CEO of the National Iranian Gas Company (NIGC) has said Iran is ready to extend its gas export deal with Iraq. Majid Chegeni, who is also the Deputy Minister of Petroleum for Gas Affairs, said: "Our relationship with Iraq is strategic and apart from economic relations, we have deep cultural and […]
Textron awarded $15m Iraq Contract
By John Lee. US-based Textron Aviation Defense has been awarded a $15,669,011 firm-fixed-price contract with cost-plus-fixed-fee and cost-reimbursable contract line item numbers for support and sustainment of the Iraq Peace Dragon program. This contract provides for field service representatives, program management, core/field engineering, and repair-and-return. Work will be performed in Wichita, Kansas; and Martyr Mohammed […]
$100m to Support COVID-19 Vaccination in Iraq
By John Lee. The World Bank has approved a new US$100 million project to scale up Iraq's health sector response to the COVID-19 pandemic. The Iraq COVID-19 Vaccination Project will support the rollout of COVID-19 vaccinations to priority population groups and strengthen the institutional systems needed to enable the safe and effective distribution and use […]