By John Lee. The Ministry of Planning has held a technical meeting to review mechanisms for selecting and evaluating projects and to enhance the efficiency of public investment management. The meeting was chaired by the Undersecretary for Technical Affairs, Dr Maher Hammad Johan, and focused on supporting project selection and evaluation activities in cooperation with […]
By John Lee. Iraq's General Customs Authority has reported its highest-ever monthly customs revenues, exceeding IQD 137 billion (USD 105 million) in January 2026, reflecting the impact of recent regulatory and administrative reforms. The Authority said the increase followed the full implementation of Decision No. 957 across all customs centres, improving revenue collection efficiency and […]
By John Lee. Discussions were held on supporting monetary and economic stability and strengthening strategic cooperation between Iraq and the United States. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Ismail Al-Alaq, met the Chargé d'Affaires of the United States Embassy in Iraq, Joshua Harris, on Thursday, to review prospects for enhancing […]
By John Lee. Energy Intelligence reports that Iraq's state-owned Basra Oil Company (BOC) has subcontracted management of the West Qurna-2 oil field to a consortium of Italian engineering firm Bonatti and local firm Hilal al-Basra [Crescent Basra]. West Qurna-2, operated by Lukoil under a service contract, is fully state-owned. Following recent US sanctions on Lukoil […]
By John Lee. Iraq's Ministry of Planning has held a steering committee meeting for the Supporting Economic Transformation (SET) project, in cooperation with the German Agency for International Cooperation (GIZ), to review progress and agree a roadmap for 2026. According to the Ministry, the meeting assessed achievements during 2025 and finalised joint planning for 2026, […]
By John Lee. The Iraqi Drilling Company (IDC) completed the drilling and rehabilitation of 14 oil wells across several Iraqi oilfields in January 2026, in line with approved operational plans to support and increase oil production. The work included four new wells and the rehabilitation of ten existing wells. Kazem Habash Khalaf, Deputy Director General […]
By John Lee. The Ministry of Oil has reviewed progress on major development projects at the Rumaila oil field in Basra governorate. On behalf of Deputy Prime Minister for Energy and Minister of Oil Hayan Abdul Ghani Al-Sawad, Undersecretary for Upstream Affairs Bassem Mohammed Khudair conducted a field visit to Rumaila to follow up on […]
By John Lee. The Central Bank of Iraq (CBI) has so far issued loans worth IQD 6 billion (approximately USD 4.6 million) to support the purchase of solar energy systems, while expecting demand to increase during 2026. Speaking to the state-run Iraqi News Agency (INA), Rafel Hussein, Director of Initiatives at the CBI, said the […]
By John Lee. The General Directorate for Industrial Development at the Ministry of Industry and Minerals granted 1,867 licences under establishment for new industrial projects during 2025, according to an official statement. The Director General, Ali Ibrahim, said the licences covered a wide range of sectors, including food, chemical, metal, construction, textile and engineering industries, […]
By John Lee. The Ministry of Electricity is moving to deepen its strategic partnership with General Electric (GE) of the United States, as part of plans to add up to 24,000 megawatts of new generation capacity and strengthen the national power system. The Director General of the Planning and Studies Department, Hussein Badr, chaired a […]
By John Lee. National Investment Commission (NIC) Chairman Haider Mohammed Makkiya met South Korean Ambassador to Iraq Lee Joon-il in Baghdad to discuss expanding bilateral cooperation in investment, trade and economic relations. The talks reviewed investment opportunities across industry, housing, energy and infrastructure, as well as measures to improve the investment environment for South Korean […]
By John Lee. The Ministry of Oil has announced the successful commissioning of the Fluid Catalytic Cracking (FCC) unit at South Refineries Company (SRC), with the start of production of high-octane upgraded petrol. Deputy Prime Minister for Energy and Minister of Oil Hayan Abdul Ghani Al-Sawad praised the workforce at South Refineries Company for achieving […]
