The latest China – Iraq Business News – Chinese Electricity Company, CNPC, CNOOC, PetroChina & more – brought to you by Iraq Business News
By John Lee. The Prime Minister of Iraq has stopped the granting of investment licenses for the Al Rafeel [Rafael] City project until inventory, inspection, survey, and land identification actions are completed. Al Rafeel City is planned to cover 10,600 acres close to Baghdad International Airport (BIAP). The Chairman of Iraq's National Investment Commission (NIC), […]
By John Lee. The Central Bank of Iraq (CBI) said on Wednesday that it plans to allow trade from China to be settled directly in yuan, in a renewed attempt to stabilise the value of the Iraqi dinar. In a statement, it said foreign trade financing will be conducted through direct channels in China using […]
By John Lee. Prime Minister Mr. Mohammed S. Al-Sudani attended the final signing ceremony of the contracts for the fifth licensing round for border zones and fields, held on Tuesday 21st February at the headquarters of the Ministry of Oil. The Prime Minister pointed out that implementing the fifth licensing round was delayed for five […]
By Ashish Kumar Sen for the United States Institute of Peace (USIP). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Fighting Corruption Harder than Fighting ISIS, Says Iraq's Deputy Prime Minister Fuad Hussein lays out Iraqi government's priorities, says Iraq's interests dictate its […]
By John Lee. The Iraqi Drilling Company (IDC) has begun drilling the FQCS-88 oil well at the Fakka oil field in eastern Maysan [Missan] province. The 2,000-horsepower IDC 55 rig is operating as part of a project to drill 22 oil wells for the China National Offshore Oil Corporation (CNOOC). It will drill to a […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has announced that the final signing of contracts for the fifth round of energy licences will take place next week. These contracts relate to the development and production of six fields and exploratory blocks in border areas, which were granted to the following companies: Development blocks: […]
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. China Makes Big Moves To Secure Iraqi Oil Whilst the U.S. and its allies appear to be taking a subtle approach to advancing their remaining interests in Iraq, as hinted […]
By John Lee. The Central Bank of Iraq (CBI) has reportedly confirmed an agreement with J.P. Morgan Development Finance Institution to facilitate payments to China in order to finance private sector imports. According to the state-owned Iraqi News Agency (INA), this agreement enables Iraqi banking systems to make payments directly to the People's Republic of […]
By John Lee. Iraq's Council of Ministers has approved the recommendation of the Economic Energy Council to sign contracts for the fifth energy licensing round. According to a government statement, the fifth-round projects had been suspended for four years due to "a complaint about the correctness of the procedures." It adds that, "after this file […]
By John Lee. China's Gezhouba Group has offered to invest $10 billion in Iraq's Kurdistan region. According to a report from Kurdistan24, a translation of which was published on the company's website, the investment is intended for roads, railways, the power sector and dams. Mohammed Shukri, chairman of the Kurdistan Investment Board, is quoted as […]
From 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. Chinese ambassador writes for Al Bayan: Belt and Road Initiative and China-Iraq relations Cui Wei-ambassador of the Republic of China to Baghdad: In this past period since my […]
From Five One Invest. Re-published with permission by Iraq Business News. ECOSYSTEM OVERVIEW The Iraqi startup ecosystem started with a bang this year. In Q1 of 2022, we witnessed an unprecedented $10.5M investment round (Baly) and $5M (TipTop). The excitement revolved not only around investment value but also around the investor profile. Specifically, Baly's round […]
