Engineers Jailed for 5 Years in Iraqi Contract Dispute
By John Lee. Australian citizen Robert Pether and his Egyptian colleague Khalid Radwan, who have been detained in Iraq since early April, have reportedly been found guilty of fraud, and sentenced to five years in prison. The pair are also reported to have been jointly fined $12 million. Their detention followed a contract dispute relating […]
Digital Democracy Challenge
The Digital Democracy Challenge is a global hackathon led by Seedstars that aims to develop innovative solutions that strengthen and enhance digital democracy for citizens living under strict cyber restrictions and control. Interested applicants can sign up here before 13th September 2021: https://seedsta.rs/3jDq82s. The Digital Democracy Challenge seeks innovative, low-cost, and viable digital solutions to […]
Pressure to Open Borders for Pilgrims despite Pandemic
By Hassan Ali Ahmed, 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 under pressure to open borders for Shiite pilgrims despite pandemic While the Iraqi government attempts to prevent the spread of the delta variant from Iran, there is […]
Iraqi Cabinet approves BP Plan to spin off Rumaila
By John Lee. The Iraqi cabinet has approved a plan to restructure the ownership of the giant Rumaila oilfield. The field will be taken over by the newly-created Basra Energy Company (BECL), which in turn will be owned by BP and the China National Petroleum Corporation (CNPC). According to a statement from the Ministry of […]
PowerChina to Develop 2GW of Solar Power in Iraq
By John Lee. Iraq has signed an "agreement of principles" with state-owned PowerChina (Power Construction Corporation of China) to build a 2,000-MW solar power station. The Director General of the Investments and Contracts Department at the Ministry of Electricity, Mrs. Maha Hamoudi Abdul-Jabbar, signed on behalf of the Iraqi side, while the Deputy General Manager […]
Iraq Confirms Oil Exports for July almost $6.5bn
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for July of 90,467,794 barrels, giving an average for the month of 2.918 million barrels per day (bpd), slightly up from the 2.892 million bpd exported in June. The exports from the oilfields in central and southern Iraq amounted to approximately 87,455,359 barrels, […]
Iraq's Ministry of Electricity gets a Re-Brand
By John Lee. The Iraqi cabinet has agreed to change the name of the Ministry of Electricity to the Ministry of Electricity and Renewable Energy. A draft law enacting the change will be referred to the House of Representatives (parliament). (Source: Govt of Iraq)
NIC may Compensate Investors who suffered due to ISIS Terrorism
By John Lee. The Chairwoman of the National Investment Commission (NIC), Suha Daoud Najjar, has confirmed that the NIC is studying compensating investors who are still continuing their investment projects despite suspension for four years due to ISIS terrorist gangs. She indicated that the study includes submitting a proposal to the Council of Ministers and […]
Menzies expands MASIL JV at Baghdad Airport
Menzies Aviation expands MASIL joint venture with launch of passenger services at Baghdad International Airport Menzies Aviation has announced that it has expanded its joint venture with Iraqi Airways ("MASIL") to offer passenger services at Baghdad International Airport. MASIL has now assumed operational control of passenger service activities in the Nineveh terminal at Iraq's largest […]
EU proposes Visa Restrictions for Iraq
By John Lee. The European Commission has proposed to the Council to adopt temporary restrictive measures on short-stay visas for visa applicants who are nationals of Iraq, Bangladesh and The Gambia. Under the revised Visa Code in force since February 2020, the EU's short-stay visa policy is linked to cooperation with partner countries on readmitting […]
Construction Starts at $250m Iraqi Cement Project
By John Lee. Iraqi Minister of Industry and Minerals, Manhal Aziz Mahmoud Al-Khabbaz, has announced the official start of construction of a new cement plant in Badoush, in Nineveh Governorate. The $220-million project is being carried out by the General Company of Iraqi Cement and a Spanish company, which the Ministry did not name. The […]
Japan extends $300m Loan for Basra Refinery
By John Lee. Japan's Minister for Foreign Affairs, Motegi Toshimitsu, visited Iraq on Saturday, meeting with Foreign Minister Fuad Hussein, Prime Minister Mustafa Al-Kadhimi, and President Barham Salih. Minister Motegi announced that Japan intends to extend the "Basrah Refinery Upgrading Project (Phase 3)" Yen loan project (up to the amount of 32.7 billion yen) [$300 […]