Egypt wins Strong Foothold in Iraq's Reconstruction
By Amr Mostafa for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Egypt wins strong foothold in Iraq's reconstruction Millions of Egyptian workers may benefit from their government's involvement in Iraq's massive reconstruction process. Click here to read the full story.
Iraqi Govt presses ahead with Early Elections
By Omar al-Jaffal for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi government presses ahead with early elections next year The Iraqi government is striving to make the legal and political preparations for elections in June 2021, amid multiple political […]
KRG to Resume Override Payments to Genel
By John Lee. Genel Energy has received notice from the Kurdistan Regional Government ('KRG') that override payments, whereby Genel receives 4.5% of monthly Tawke gross field revenues, will resume with the January 2021 invoice, to be paid in February 2021. Assuming the prevailing oil price, this translates into over $5 million of additional cash proceeds […]
China "Set to Bail Out Iraq" with Oil Deal
By John Lee. Iraq is reportedly poised to sign a multibillion-dollar contract with China's ZhenHua Oil, in what Bloomberg describes as a bailout from Beijing. Under the deal, Iraq's cash-strapped government which will receive money upfront in exchange for long-term oil supplies. Click here to read the full article. (Source: Bloomberg)
Iraqi Govt authorises 4 Private Colleges
By John Lee. The Iraqi Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. Following discussions, the Cabinet agreed to authorise the Ministry of Higher Education and Scientific Research to grant licences to new private colleges in Baghdad, Anbar, Basra and Al-Muthanna provinces. (Source: Govt of Iraq)
Direct Flights Resume between London and Iraq
Iraqi Airways has announced that it is resuming its regular service between London Gatwick and the Iraqi airports of Baghdad, Erbil and Sulaymaniyah. The first flights will operate on 19th December from Baghdad and Erbil. More details here.
Iraqi Govt considers Sales Tax
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi government considers sales tax to relieve budget crisis Iraq is mulling the possibility of imposing a sales tax amid concerns over the consequences of such a move on […]
Oryx Petroleum Changes Name, Plans $51m Capex
By John Lee. Oryx Petroleum Corporation has announced that it has changed its name to Forza Petroleum Limited. 2021 Budgeted Capital Expenditures Budgeted capital expenditures for 2021 are $51 million and dedicated exclusively to the Hawler license area. The planned work program involves drilling five new wells into proven, producing reservoirs and reservoirs still being […]
Gazprom Neft developing Fourth Well at Sarqala
By John Lee. Russia's Gazprom Neft has produced its four-millionth tonne (32-millionth barrel) of oil since starting commercial development of the Sarqala field in the Kurdistan Region of Iraq (KRI). Three wells are now in operation at this field, with daily production running at about 3,100 tonnes (24,000 barrels) per day. Limitations arising under the COVID-19 pandemic notwithstanding, Gazprom […]
Curfew after Demonstrators Killed in Sulaymaniyah
From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. A curfew has been imposed in Iraq's northern Sulaymaniyah province after at least five people were killed in anti-government protests. Al Jazeera's Simona Foltyn reports:
New Agreement to help Combat Corruption in Iraq
Transparency, accountability, integrity: New agreement to help combat corruption in Iraq The United Nations Development Programme (UNDP) and the Iraqi Prime Minister's Office have reaffirmed their partnership and commitment to preventing and combating corruption in Iraq by signing a new Memorandum of Understanding (MoU) designed to promote transparency, accountability and integrity in the public and […]
Saudi-Iraqi Business Forum Launched; New Projects Announced
By John Lee. Prime Minister Mustafa Al-Kadhimi received a delegation of Saudi officials and business people in Baghdad on Monday. Among the visitors was the Saudi Minister of Commerce, Acting Minister of Media, and Chairman of the Saudi-Iraqi Coordination Council, Dr. Majid bin Abdullah Al-Qasabi. The delegation included businessmen representing 22 Saudi companies. During the […]