By John Lee. The Iraqi Ministry of Industry and Minerals has secured government approval to establish a fully integrated phosphate fertilizer complex in Anbar and a sponge iron plant in Basra, marking what it describes as a major step in reviving the country's strategic industries. According to a ministry statement, the Higher Committee for Reconstruction […]
By Jon Wilks CMG, Former UK Ambassador to Iraq, for the Iraq Britain Business Council (IBBC): British business heightened interest in Iraq following visit of Prime Minister Al Sudani to London Iraq in 2025 continues a steady and sustained recovery based on greater stability, strong oil revenues, staying out of regional conflicts and accelerating reconstruction. […]
By John Lee. Standard Chartered has successfully arranged a $95-million term loan for the Iraqi Ministry of Finance, supporting the supply of five electrical substations across northern and southern Iraq. The financing, backed by a 100% UK Export Finance (UKEF) guarantee, covers both political and commercial risks. The Ministry of Electricity will use the funds […]
By John Lee. The Iraqi Ministry of Oil has announced plans to expand Maysan [Missan] Refinery by adding a new refining unit with a capacity of 70,000 barrels per day (bpd), increasing the refinery's total output to 110,000 bpd. During a visit to the refinery, Deputy Minister for Refining Affairs Adnan Mohammed Hammoud emphasized that […]
By Kim Andersson, Annette Huber-Lee, Jennifer Aghaji for the Stockholm Environment Institute (SEI). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Focus Iraq: SEI's water tools and training enhance water resilience Iraq faces severe water challenges due to climate change and regional issues from […]
By John Lee. The International Energy Agency (IEA) has published its National Climate Resilience Assessment for Iraq: Key Climate Trends Iraq's warming rate (0.48°C per decade) exceeds the global average (0.37°C). Projected temperature rise: 2.5°C (low-emissions) to 5.6°C (high-emissions) by 2100. More extreme weather: Increased droughts in the north, heavier rainfall in the south. Growing […]
By John Lee. The Office of the Prime Minister, in collaboration with the Iraqi Private Banks League (IPBL), Baghdad Municipality, and the Ministry of Culture, has announced the launch of the third phase of the "Baghdad Pulse" initiative, aimed at rehabilitating Al-Rasheed [Al Rashid] Street (pictured, 2008), one of Iraq's oldest and most historically significant […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully drilled and rehabilitated three oil wells in the Zubair oilfield, as part of its commitment to field development and national production enhancement. The company completed the drilling of Zubair/638 well at a depth of 3,500 metres for ENI, using advanced technologies in collaboration with Schlumberger […]
By John Lee. Iraqi President Dr. Abdul Latif Rashid met with the new Kuwaiti Ambassador to Iraq, Hassan Mohammed Al-Zaman, in Baghdad on Monday, 10th February, to discuss bilateral relations and economic cooperation. President Rashid reaffirmed Iraq's commitment to strengthening ties with Kuwait, highlighting investment opportunities and the importance of expanding economic collaboration. He also […]
By John Lee. S&P Global Ratings has affirmed its 'B-' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Iraq. "The outlook is stable," it added. More details, including economic stats, here. (Source: S&P Global Ratings)
By John Lee. Kirkuk Governor Ribwar Taha Mustafa has signed a contract for the construction of the Kirkuk Refinery, which has a planned production capacity of 70,000 barrels per day (bpd). The refinery will be built by Sulaymania-based Rania Group, and will reportedly cost around $2 billion. During the signing ceremony, attended by Kirkuk Provincial […]
By John Lee. Gas production at Khor Mor's KM250 expansion is expected to start in Q2 2026. In its results for FY 2024, Dana Gas said: "In September 2024, Pearl Petroleum took over full responsibility for the KM250 expansion project following the termination of the original EPC contractor. Construction resumed fully in December and the […]
