The latest China – Iraq Business News – Chinese Electricity Company, CNPC, CNOOC, PetroChina & more – brought to you by Iraq Business News
By John Lee. Prime Minister Mohammed Shia Al-Sudani has laid the foundation stone for the Al-Jawahiri Residential City project in Abu Ghraib, west of Baghdad. The project is one of the five new cities unveiled as part of the government's strategy to tackle the housing crisis and alleviate congestion in major urban centers. According to […]
By John Lee. The President of Iraq's Communications and Media Commission (CMC), Dr. Ali Al-Mouyad, has signed a memorandum of cooperation with Chinese company Huawei in the field of cybersecurity and capacity building. According to a statement from CMC, the agreement aims to foster collaboration, mutual innovation, knowledge exchange, and training development in cybersecurity for […]
By John Lee. The Deputy Ambassador at the Chinese embassy in Baghdad, Xu Haifeng, told the state-run Iraqi News Agency (INA) that trade exchange between the two countries is increasing at a rapid pace: Trade Volume and Increase: Chinese embassy disclosed trade data with Iraq, highlighting a year-on-year increase in purchases by approximately 48%. Trade […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani met with Zhang Jiming, the CEO of China's Changxin Company [Shanxi Changxin?], and accompanying delegation. The Prime Minister highlighted Iraq's abundant investment opportunities during the meeting, expressing the government's commitment to providing necessary facilitations for major international companies. Shang Xin Corporation, a prominent Chinese company with global […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Russia Takes Control of Iraq's Biggest Oil Discovery for 20 Years The Eridu field - part of Iraq's Block 10 exploration and development region - is the biggest oil find […]
By John Lee. Iraq and China have set the Iraq-China Business Council, with a view to increasing trade and investment between the two countries. With trade valued at around $53 billion in 2022, according to a statement from Iraq's Ministry of Trade, China is Iraq's largest trading partner. Full statement from the Ministry of Trade: […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the drilling of two oil wells in the Zubair and Fakka [Jabal Fauqi] oil fields. The ZB-608 oil well in the Zubair oil field reached a depth of 3,598 meters using the 1,500-horsepower IDC 38 drilling rig. This is part of the contract with […]
By John Lee. According to a statement from the KRG, on the third day of the 5th International Trade Fair for Industry and Construction in Erbil, business opportunities are flourishing. It says a total of 210 companies, from 10 different countries, are actively participating in the fair, with 38 of them being Kurdish and Iraqi […]
By John Lee. The Central Bank of Iraq (CBI) has reportedly made agreements to support several private Iraqi banks with foreign currency. State-run Iraqi News Agency (INA) quotes a government source as saying that, following meetings in Abu Dhabi with US officials, it has been agreed, "to boost the advance balance of five Iraqi banks […]
By John Lee. The Saudi company Northern Region Cement has signed a contract with Germany's KHD to build a cement production line in Iraq. According to a statement to the Saudi Stock Exchange, the new plant will have an annual capacity of 1.32 million tons of cement, and the project should be completed within 16 […]
By John Lee. China's Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) has announced that it has received a letter from Iraq's Petroleum Contracts and Licensing Directorate (PCLD) confirming the successful approval of its qualifications for Iraq's oil and gas field development and operations. In a statement on Thursday to the Shanghai Stock Exchange, the […]
By John Lee. In its 42nd regular session, chaired by Prime Minister Mohammed Shia Al-Sudani, the Iraqi Cabinet agreed to increase oil exports to China. In a statement, the cabiniet said the move was to support essential and strategic projects, in alignment with the Iraq-China Framework Agreement. As a result, oil exports to China will […]
