By John Lee. The Iraqi Drilling Company (IDC) has launched its largest drilling rig, IDC 57, at the Majnoon oil field. General Manager Khaled Hamza Abbas said the with 3,000-horsepower rig is modern, advanced and capable of drilling wells up to 8,500 meters deep. The technical and engineering teams have started drilling the Yamama appraisal […]
By John Lee. Jordan's Ministry of Energy and Mineral Resources has announced that Iraq has approved a three-month extension of the Memorandum of Understanding (MoU) for supplying oil to Jordan, under the same contractual terms and price. The Director of Jordan's Oil and Natural Gas Directorate, Engineer Iman Awad, stated that Jordan has completed all […]
By John Lee. Capturiant, which describes itself as "the world's first energy-derived carbon credit and environmental asset authenticator, registry, and regulated exchange", has announced its first Middle Eastern franchise in Iraq, in partnership with Sharp Mind Global Ventures Inc., a Canada-based company with a branch in Iraq. According to a press release from Capturiant: This […]
By John Lee. Iraq's Minister of Higher Education and Scientific Research has launched the Academic Bridge Program between Iraq and the United Kingdom. Dr. Naim Al-Aboudi presented an official copy to the British Council during the Iraq-UK Higher Education Dialogue in London. In his speech, Dr. Al-Aboudi highlighted the broad and diverse collaboration opportunities between […]
By John Lee. The Iraqi Cabinet has approved exempting the Italian company GKSD from the registration requirements outlined in the amended Foreign Companies Branches System (2 of 2017). The Cabinet also approved funding the equipment and management contract for the Internal Security Forces Hospital from the budget of the Internal Security Forces Care Affairs Directorate, […]
By John Lee. Dr. Ali Al-Moayyed [Ali Hussein al-Moayad], Chairman of Iraq's Communications and Media Commission (CMC), has announced that KPMG has started auditing the revenues of mobile phone companies operating in Iraq from 2017 to 2022. According to a press release from the CMC, this initiative aims to enhance transparency, combat tax evasion in […]
By John Lee. Iraq's General Directorate for Industrial Development (GDID) has launched a new loan mechanism for small, medium, and micro enterprises (MSMEs). The loans are made in conjunction with the Central Bank of Iraq (CBI), and can be worth up to 20 million Iraqi dinars ($15,000) per loan. Dr. Ali Ibrahim Janaan, Director General […]
By John Lee. The Iraq Development Fund Board, chaired by Prime Minister Mohammed Shia' al-Sudani, held its third meeting on Monday in the presence of the Minister of Finance, the Minister of Planning, and the Minister of Construction, Housing, Municipalities, and Public Works. The meeting discussed the projects included in the Fund's work plan, attracting […]
By John Lee. Oil Minister Hayyan Abdul Ghani commended the recent achievements in the refining sector during his visit to the Midland Refineries Company (MRC) on May 21, 2024. Accompanied by Deputy Minister for Distribution Affairs Ali Maarij, Abdul Ghani acknowledged the ministry and companies' efforts in adding 360,000 barrels per day of refining capacity […]
By John Lee. The Iraq Britain Business Council (IBBC) has announced the addition of MHDInternational to its network. According to a statement from IBBC: "MHDInternational, an engineering consultancy with operations throughout UK and the Middle East, joins IBBC in our mission to promote sustainable development and economic growth in Iraq ... "MHDInternational is also introducing […]
By John Lee. The Iraqi Cabinet has decided to extend the tendering period for the Najaf-Karbala train project by an additional month. According to a statement from the Prime Minister's office, the extension was agreed in the hope of attracting more bids, and to "ensure competition beyond the single offer currently received." (Source: PMO)
By John Lee. Prime Minister Mohammed Shia' Al-Sudani chaired the fifth meeting of the Supreme Council for Youth, discussing and approving several initiatives: The Council launched the National Entrepreneurship Competition, in collaboration with the Riyada initiative, to support 100 youth-led entrepreneurial projects with loans up to 100 million dinars [$76,00] each. Additionally, the Council approved […]
