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 […]
By John Lee. The Iraqi Ministry of Electricity has signed three contracts with Linxon to rehabilitate key 400 kV BSP stations in Baghdad and Diyala as part of the Iraqi Electrical Super Grid. The agreements, funded by SEK and EKN loans, were signed by Riyad Uraibi Muklf, General Director of the General Company for Electrical […]
By John Lee. Iraq's Deputy Prime Minister and Foreign Minister, Fuad Hussein, met with Rachid Talbi El Alami, Speaker of the Moroccan House of Representatives, in Rabat on 6th February 2025 to discuss bilateral relations, economic cooperation, and regional developments. Minister Hussein highlighted Iraq's focus on economic development, investment, and service provision amid security stability, […]
By Yomna Elshamy for The Fish Site. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Can aquaculture help provide a more stable future for Iraq? A project in Duhok, in Iraqi Kurdistan, aims to produce up to 60,000 tonnes of carp a year, offering […]
By John Lee. The Iraq-Jordan Joint Trade Committee has concluded its meetings in Baghdad, signing an agreement outlining several mechanisms to enhance bilateral trade and address existing challenges. The committee, holding its first meeting, was chaired by Jordan's Minister of Industry, Trade, and Supply, Yarub Qudah, and Iraq's Minister of Trade, Atheer Dawood Al-Ghurairi. Minister […]
By John Lee. Iraq is set to conduct its first international transport under the global TIR transit system, marking a significant step towards trade modernisation. TIR is a global convention that streamlines procedures at borders, reducing the administrative burden for customs authorities and for transport and logistics companies. A delegation from the Swiss-based International Road […]
By John Lee. Iraq's Minister of Finance met with a delegation from the German Agency for International Cooperation (Deutsche Gesellschaft für Internationale Zusammenarbeit, GIZ), the European Union, and the German Embassy in Baghdad, alongside representatives from the Central Bank of Iraq (CBI), the Federal Integrity Commission, the Federal Board of Supreme Audit (FBSA), and the […]
By John Lee. The Council of Ministers of the Kurdistan Regional Government (KRG) has instructed the Ministry of Natural Resources (MNR) to maintain coordination with the federal Ministry of Oil, State oil Marketing Organization (SOMO), and oil-producing companies in the region to ensure the swift resumption of Kurdistan Region's oil exports through SOMO, with the […]
By John Lee. Iraq's Ministry of Electricity and GE Vernova have completed upgrades at multiple power plants, enhancing Iraq's electricity infrastructure. The project covers 46 gas turbines across 12 sites, expected to add up to 500 MW to the national grid by summer 2025. Several plants, including Ninawa, Al-Diwaniyah, Hilla, and Karbala, have transitioned from […]
