Chevron, Basra Oil Company Sign Information-Sharing Deal
By John Lee. Basra Oil Company (BOC) signed a confidentiality agreement with Chevron of the United States on Wednesday to regulate the exchange of information for the evaluation of the West Qurna 2 oil field, and to negotiate future agreements. According to the Ministry of Oil, West Qurna 2 is one of Iraq's giant oil […]
Gulftainer Launches UAE-Umm Qasr Feeder Service
By John Lee. Gulftainer has launched its first dedicated feeder service linking the UAE and Umm Qasr, seventeen years after the company established Iraq's first modern container terminal at the port in 2009. According to Gulftainer, the new service is operated under the company's shipping arm, GT Lines, and connects Umm Qasr directly to UAE […]
Top 10 Dinar Articles from May
The following were the ten most read dinar-related articles on Iraq Business News for the month of June: Iraqi Central Bank Rejects Rumours of New Dinar Rate You Bought Iraqi Dinars. Now What? "Deleting the Zeros": What Iraq Actually Said, and What It Means for Your Investment 2026: The Year Iraqi Dinar Speculators Finally Strike […]
Samarra Drug Co Begins Local Production of Asthma Inhalers
By John Lee. The General Company for Drug Industries and Medical Appliances in Samarra has begun operating Iraq's first production line for oral asthma inhalers, with an annual capacity of nine million units. According to the company, which falls under the Ministry of Industry and Minerals, the new line is based at its Baghdad plant […]
Khoshnaw to Distribute SANY Heavy Equipment in Iraq
By John Lee. SANY, a Chinese manufacturer of construction and heavy equipment, is now officially available in Iraq through a partnership with Khoshnaw. The company's product range includes excavators, wheel loaders, cranes, road machinery, and concrete equipment. SANY equipment is used in more than 180 countries worldwide Products will be distributed in Iraq and the […]
$14m Seized in Investigation into Oil Ministry Official
By John Lee. Iraqi investigators have seized $11m in cash, 4 billion Iraqi dinars ($3.05m), and a number of properties as part of a corruption investigation into a senior Ministry of Oil official. According to the Supreme Judicial Council (SJC), the investigating judge at the Central Anti-Corruption Felonies Court said preliminary investigations into Ali Maarij […]
New Cement Facility for Al-Anbar
By John Lee. Authorities in Iraq's western Al-Anbar province have begun construction of the country's first fully privately owned cement plant, a project expected to produce one million tonnes of cement annually and create at least 5,000 jobs. According to Shafaq News, construction on the Ramadi Cement Plant is currently 27-30 percent complete. The facility […]
US Firm KBR Agrees Infrastructure Deal in Basra
By John Lee. The U.S. Embassy in Baghdad has announced that KBR has signed a memorandum of understanding with the local government in Basra aimed at drawing on American expertise to develop infrastructure and support economic growth in the province. (Source: U.S. Embassy Baghdad)
Lamprell Opens New Office in Basra
By John Lee. UAE-based oilfield services company Lamprell has established a new office in Basra, expanding its presence in Iraq. According to a statement from the company, the move follows a series of engagements with clients and stakeholders in the country over the past year, and reflects the company's long-term commitment to supporting Iraq's energy […]
$14.5m Recovered in Iraqi Airways Corruption Case
By John Lee. An investigative court specialising in integrity cases in Baghdad's Rasafa district has recovered 19 billion Iraqi dinars ($14.5m) in connection with a financial corruption case at Iraqi Airways. According to the Supreme Judicial Council (SJC), the funds were recovered on Tuesday as part of an investigation into the manipulation of deposit records […]
Private Iraqi Universities Given Tax Amnesty Window
By John Lee. Private universities, colleges, and institutes in Iraq subject to tax assessment are to be required to settle outstanding income tax and direct withholding tax liabilities, under a decision by the Council of Ministers. Institutions that pay their principal tax liability and complete the tax assessment process within four working months of the […]
Geo-Economic Competition: The Development Road and Iraq-Iran Railway
By Dr. Sura Mawfaq Maqsoud, for the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Geo-Economic Competition and Regional Balance: The Development Road and Iraq-Iran Railway Link as a Model Amid various international interactions, a number of major […]