Tag Archives | featured

Iraq's Economic Outlook has Improved, but Risks Abound

From the World Bank: Iraq: Rising Fiscal Risks, Water Scarcity, and Climate Change Threaten Gradual Recovery from Pandemic Iraq's economic outlook has improved on the back of the recovery of global oil markets, with its GDP projected to grow from 2.6% in 2021 to over 6% in 2022-23. Nevertheless, without accelerated economic reform, unforeseen domestic […]

Facilitating Iraq's WTO Accession Process

Facilitating Iraq's WTO Accession process in collaboration with Iraq's National Committee on WTO Accession. Iraq's National Committee on WTO Accession participated in a technical session organised in Baghdad on 23rd November. The session  provided a comprehensive overview of the accession process and highlighted the crucial role of  the National Committee on WTO Accession in this […]

UN Meets Donors to Discuss Development Strategy for Iraq

A high-level meeting between the United Nations and international donors took place in Baghdad to discuss the United Nations' updated development strategy for Iraq. The meeting focused on the 2020-2024 United Nations Sustainable Development Cooperation Framework (UNSDCF), which was signed by the Government of Iraq in September. The UN was represented by the Deputy Special […]

Block 10 More Attractive for Lukoil than West Qurna 2

Writing in Oil Price, Simon Watkins points out that the $5.99-per-barrel remuneration that Lukoil will receive under its technical service contract at Block 10 is considerably better than its $1.15/barrel payment at West Qurna 2. Block 10 includes the Eridu field, which has indicated oil reserves of between 7 and 12 billion barrels, and a […]

Supporting Young Engineers in Improving Iraqi Environment

ILO and UNICEF joint initiative supports young engineers to play a key role in promoting Green Works in Iraq With the support of the Government of the Netherlands, the ILO and UNICEF are working together to build the capacities of selected youth to engage in Employment Intensive Investment Programme (EIIP) interventions aimed at improving the local environment […]

Iraq Finalises October Oil Exports

By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for October of 96,708,660 barrels, giving an average for the month of 3.120 million barrels per day (bpd), up slightly from the 3.081 million bpd exported in September. The exports from the oilfields in central and southern Iraq amounted to approximately 93,386,975 barrels, […]

Why Iraqi Kurds are seeking Refuge in Europe

From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Why Iraqi Kurds are seeking refuge in Europe The heartbreaking drama of thousands of migrants, many of them Iraqi Kurds, stranded along the Belarusian border with Poland, where they encounter dire conditions in […]

Basra Energy Company established to run Rumaila Oilfield

By John Lee. The Iraqi Ministry of Oil has officially established the new Basra Energy Company (BECL), which will be the main contractor at the giant Rumaila oilfield, under a Technical Service Contract (TSC). Representing BECL at the ceremony, Zaid Elyaseri (BP) said the field will be developed to reach a peak production of 1.7 […]