By John Lee. Iraqi Prime Minister Ali al-Zaidi met separately in New York with representatives of US oil companies HKN Energy and ExxonMobil, according to the Prime Minister's Office (PMO). In the meeting with HKN Energy, al-Zaidi urged the company to accelerate operations and increase working hours on its projects and contractual commitments in Iraq, […]
By John Lee. An Iraqi member of parliament has been sentenced to seven years in prison for illicit enrichment and ordered to repay more than IQD 61 billion (USD 46.6 million) in unlawful assets and equivalent financial penalties. According to the Federal Commission of Integrity, the Central Criminal Court for Anti-Corruption issued an in-person verdict […]
By John Lee. Iraq's Small Business Support Fund has held a board meeting to review procedures for issuing loans and improve support for small business owners. The meeting took place at the premises of the Department of Labour and Vocational Training, which falls under the Ministry of Labour and Social Affairs. According to the Ministry […]
By John Lee. A new gas processing unit with a capacity of 30 million standard cubic feet per day (mmscfd) has opened at the East Baghdad oil field (southern section). According to the Ministry of Oil, processed gas from the unit will be fed directly to the Bismaya power station via a pipeline constructed by […]
By John Lee. A fraud network that purchased more than 170 properties in Babylon and Baghdad and registered them in the names of others has been dismantled, with all nine suspects arrested. The properties, which include state-owned and agricultural land, are estimated to be worth tens of billions of Iraqi dinars (hundreds of millions of […]
By John Lee. Sinopec (China Petroleum & Chemical Corporation) has awarded a Marine Warranty Survey (MWS) contract to New Wave Offshore Energy in support of the Associated Gas Upstream Project (AGUP) Phase 2 in southern Iraq, part of the Gas Growth Integrated Project (GGIP) operated by TotalEnergies alongside its partners Basra Oil Company (BOC) and […]
By John Lee. Iraq's parliamentary Finance Committee has held a workshop with the Iraqi Private Banks League (IPBL) to discuss the state of the banking sector and mechanisms for its development. The session was chaired by MP Uday Awad and attended by Ali Tariq Mustafa, Executive Director of the IPBL, along with a delegation of […]
By John Lee. A new automotive facility for the OMODA and JAECOO brands has opened in Erbil, bringing sales, after-sales, spare parts and customer support under one roof. The site is operated by Jameel Motors Iraq, the official distributor of both Chinese brands in the country. The facility occupies approximately 9,000 square metres and includes: […]
By Nadim Kawach, for Arabian Gulf Business Insight (AGBI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Oil Squeeze Pushes Iraq Towards Toughest Budget in Decades Iraq faces its toughest budget challenge in more than two decades as a sharp fall in oil […]
By John Lee. Plans to develop associated gas investment at the Nahr Bin Umar oil field in Basra province were reviewed at a meeting chaired by Dr. Izzat Sabir Ismail, Deputy Minister of Oil for Gas Affairs. According to the Ministry of Oil, the meeting was attended by representatives of South Gas Company, the Planning […]
By John Lee. Iraq's crude oil exports have averaged around 2.6 million barrels per day (bpd) during September, according to the Ministry of Oil, which issued a clarification following media reports suggesting exports had reached 4 million bpd. The Ministry stated that the 4 million bpd figure reflected a single day's exports, driven by a […]
By John Lee. Iraq's Ministry of Trade has outlined plans to tighten import controls and expand the reach of Iraqi goods into regional and international markets. Mohammed Hannoun, the ministry's official spokesman, told the state-run Iraqi News Agency (INA) that the ministry is working to regulate the import process in line with legal frameworks, balancing […]
