The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
By John Lee. Prime Minister Mohammed Shia Al-Sudani has received the President, Eastern Hemisphere, of Halliburton, Shannon Slocum, and his accompanying delegation in Baghdad. Al-Sudani emphasised that the presence of major international oil companies in Iraq reflects the government's commitment to developing the energy sector in line with global standards. He highlighted Iraq's plans to […]
By John Lee. Central Bank of Iraq (CBI), in cooperation with the International Labour Organization (ILO), the Iraqi Company for Bank Guarantees (ICBG), and several Iraqi banks, has provided significant financial and training support to displaced persons and host communities in Nineveh and Duhok governorates under the Afaaq programme. The initiative has since been replicated […]
By John Lee. China Petroleum Engineering Co. (CPECC) has announced that its wholly-owned subsidiary, China Petroleum Pipeline Engineering Co. (CPPE) has been awarded a major contract by Iraq's Basra Oil Company (BOC) for the Basra Province Seawater Transmission Pipeline EPC Project. The project, valued at $2.524 billion, includes the construction of trunk and branch pipelines […]
By John Lee. The Iraqi Cabinet has approved a series of incentives for the developers of Basra/1 and Basra/2 residential projects. For Basra/1, the developer has been exempted from the standard 10 percent deduction representing the landowner's share. The company is also authorised to sell units at open market prices. Additionally, it is permitted to […]
The European Union allocates EUR 1.1 million to address urgent water crisis in Basra, Iraq In response to the escalating water crisis in Basra, southern Iraq, the European Union is allocating EUR 1.1 million in humanitarian funding. The emergency support will address urgent water, sanitation, and hygiene (WASH) needs over the next six months, targeting […]
By John Lee. Iraq's Minister of Industry and Minerals, Khaled Battal Al-Najm, chaired a meeting at the Ministry's headquarters to explore a potential partnership agreement with Saudi company Ajyal for the establishment of a petrochemical complex in Basra. The proposed complex would be built on the site of the State Company for Petrochemical Industries in […]
By John Lee. The Ministry of Agriculture has announced the successful cultivation of mangrove trees along the Shatt al-Arab coastline in the Ras al-Bisha area of Basra province. The initiative, led by the Basra Directorate of Agriculture, was fully supported by the Ministry, which facilitated all necessary requirements for its implementation. Dr. Lubna Ali, Head […]
By John Lee. The Ministry of Oil has inaugurated the Central Gas Processing Facility at the Al-Faihaa [Fayhaa, Block 9] oil field in Basra, with a capacity of 130 million standard cubic feet per day (MMSCFD). The launch was conducted via video link by Prime Minister Mohammed Shia Al-Sudani, in the presence of Deputy Prime […]
By John Lee. The Iraqi Prime Minister has laid the foundation stone for the Shams Al-Basra solar power station, a landmark renewable energy project in Basra with a total generation capacity of 1,000 megawatts. Speaking at the inauguration, Mohammed Shia Al-Sudani highlighted the strategic importance of the project in supporting Iraq's power generation capacity and […]
By John Lee. The Prime Minister's Office has laid the foundation stone for Iraq's largest seawater desalination project, located near the Grand Faw Port in Basra, with a total capacity of 1 million cubic metres per day. Speaking at the launch, Prime Minister Mohammed Shia Al-Sudani described the project as a long-term and fundamental solution […]
By John Lee. The Ministry of Oil has laid the foundation stone for the new Al-Ibdaa "Creativity School" in the Al-Burjesia area of Basra province. The initiative is part of the Ministry's social benefits programme aimed at supporting the education sector, in cooperation with Eni and the Zubair oil field. Minister of Oil Hayan Abdul […]
By John Lee. The Central Bank of Iraq (CBI) has re-issued General Tender No. (2025/1) for the second time, inviting bids for the supply, installation, and operation of 68 currency counting and sorting machines for its branches in Basra (35 machines) and Mosul (33 machines). The tender covers both Iraqi and foreign currencies (USD and […]
