The latest news on Iran – Iraq business – gas, oil & electricity Industries & more – brought to you by Iraq Business News
A leading official in the Iraqi Ministry of Finance said on Monday that the Iranian banks currently operating in Iraq, and those planning to open branches in the country, are not covered by UN sanctions as they are not state-owned. The Finance Ministry’s undersecretary, Fadel Nabi, told AKnews that the Iranian banks present in Iraq […]
The Head of Tehran's Chamber of Commerce, Industries and Mines, Yahya Al-Ishaq, said Iran regards Iraq as one of the major investment locations in the Middle East region, the local satellite Press TV reported on Monday. Iraq's market and economic relations with Iran is a great opportunity for Tehran, and any failure to grasp this […]
Basra University has signed a memorandum of understanding (MOU) with Iran's Martyr Jamran University to enhance scientific and cultural exchange. University president Dr. Saleh Ismail told Iraq's National Media Center that the university aims to develop the abilities of its teaching staff, and use the expertise of international universities in the fields of science and […]
The managing director of Iran's Arvand Free Zone, Ali-Asghar Parhizgar, has said Iraqi banks have filed requests to set up branches in the zone, according to a report from Tehran Times. Since the establishment of foreign banks' branches in Iran's free zones was facilitated, Iraqi banks have welcomed setting up shops in Arvand Free Zone, […]
The managing director of the Iranian Central Oil Fields Company (ICOFC), Mehdi Fakour, reported of a new round of negotiations with Iraqi oil officials to achieve a ‘common language’ to expand cooperation on the development of shared fields, based on national interests of the two countries. In an interview with the Iranian news agency Shana, […]
The outgoing Iraqi government announced on Friday that the demarcation of borders on the Shatt al-Arab will begin at the beginning of November under the supervision of the United Nations (UN), according to AKnews. The Shatt al-Arab is where the Tigris and Euphrates rivers meet and flow into the Persian Gulf. Ahmed al-Shihani, foreign affairs […]
The deputy director of the Babel Investment Commission said that an Iranian company has been granted an investment licence to build an oil refinery in the province. Abbas al-Tai told AKnews that the Iranian company, IR Haval, will set up the refinery for filtering diesel oil, which is produced in abundance by the Iraqi refineries. […]
Halabja's deputy mayor said Iran has rejected reopening the Sazan border crossing, located near Halabja in Sulaimaniya province. In a statement to AKnews on Sunday, the deputy mayor, Goran Adham, quoted the Iranian consul to Sulaimaniya as saying that an Iranian committee visited the crossing and voiced their reluctance to open the gate again. All […]
The strategies on Iraq of neighbouring states seem to be coming clearer. This week, al-Maliki has been in Iran to meet both Mahmoud Ahmadinejad, the Iranian president, and Ayatollah Ali Khamenei, the Iranian head of state. Al-Maliki described the two countries' relationship as "strategic", saying: "We ask Iran and our neighbours to support our reconstruction and to boost economic […]
Two weeks ago Iraq revised its estimates of oil reserves upwards, and this was immediately followed by Iran doing the same. Now Reuters reports that a former oil minister has cast doubt on the numbers and on the motivation of the governments in issuing the figures, saying that the estimates are politically motivated and not […]
Just a week after Iraq finally re-stated its oil reserves, jumping from fourth to third place ahead of Iran, the Iranians have decided to re-state their oil reserves. And by a strange coincidence, they have re-taken their place ahead of Iraq. The moves comes ahead of an OPEC meeting on Thursday; oil reserves and production […]
AKnews reports that 400 electrical generators have been imported from Iran. Salam Arab, the director of the customs department at Haji Omaran (pictured) , told AKnews that since the beginning of 2010 some 400 full-size electricity generators have been imported into the Region. He added most electronic equipments are imported from Iran, not Turkey, because […]
