The latest news on Iran – Iraq business – gas, oil & electricity Industries & more – brought to you by Iraq Business News
By John Lee. Abullah Akrayi, the Kurdish representative for Iran affairs has announced plans for two pipelines to Iran, intended to exchange refined oil and natural gas from Iran for crude oil from the KRG, Anadolu Agency reports. Iranian trade envoy to Iraq Rostem Qasimi apparently signed the deal in Erbil with KRG natural resources minister Ashti […]
By John Lee. Pakistan's Lucky Cement has started production in Iraq from February of this year, in a 50/50 joint venture with the Al-Shawy family. The company's CEO, Muhammad Ali Tabba (pictured), told Dawn that a total of $40 million has been invested in the grinding mill in Basra, which has a capacity of 3,000 […]
By John Lee. A former Iranian Oil Minister, now an advisor to Iran’s First Vice President Eshaq Jahangiri, has pushed for great commercial engagement with Iraq. Rostam Qassemi [Qasemi] (pictured) told Fars News Agency: “Iraq’s big market which is in our neighborhood can be a lucrative for our private sector ... The volume of trade […]
Foreign Minister Hoshyar Zebari held talks in Tehran last week with the Minister of Foreign Affairs of the Islamic Republic of Iran, Mohammad Javad Zarif, on the issue of the Shatt al- Arab, land borders and border rivers. The talks were held in a friendly and constructive atmosphere with a common desire to address the […]
By John Lee. An investigation by Reuters has found that Iraq has purchased $195 million worth of small arms, ammunition and infantry kit from Iran, in addition to artillery ammunition. The move will likely unnerve some observers in the US, but analysts are still divided over the extent of Iranian influence in Iraq. Touted by an […]
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In a Feb. 4 interview with the semi-official Iranian Tasnim News Agency, Mohammed Majid al-Sheikh, Iraq’s ambassador to Iran, was reported to have revealed his country’s intention to strike a deal […]
By John Lee. Bloomberg reports that Iran plans to offer international companies better oil contracts than Iraq, as it seeks long-term investment to revive its energy industry. As Iran discusses limits to its nuclear program to remove Western sanctions against its financial and energy businesses, Mehdi Hosseini, of the Iranian oil ministry, said it is […]
By John Lee. India's Hindustan Petroleum (HPCL) aims to increase crude imports from Iraq by 8 percent to about 65,000 bpd in the year to the end of March 2015, as it takes up better terms offered by Baghdad. The company's director of refineries, B. K. Namdeo, told Reuters that Iraq is offering 60 days' […]
By John Lee. Iraq and Iran, which together hold more oil reserves than Saudi Arabia, are planning to challenge Saudi Arabia's grip on OPEC and its status as the "swing producer" in the cartel, according to a report from The Telegraph. With Iraq poised to triple its capacity to 9 million bpd by 2020, the result […]
By John Lee. Al Qasim Green University announced on Tuesday (January 21st) the signing a memorandum of collaboration with the University of Tehran in Iran, reports Alsumaria. The deal covers the exchange of expertise and research, with both universities agreeing to undertake joint projects in zoology and agriculture. A delegation from the University of Tehran […]
By John Lee. Foreign Minister Hoshyar Zebari met the Ambassador of the Islamic Republic of Iran, Hassan Danae Fer, on January 9th. During the meeting, the two sides discussed the political and security situation in the region, issues of common interest and official visits of officials and delegations between the two countries. The Ambassador stressed […]
The deputy head of the National Iranian Drilling Company (NIDC), Mohammad Reza Takayedi, has said that an agreement has been signed under which Iranian drilling engineers will train Iraqi technicians. Tayakedi also said that the NIDC is seeking to operate drilling projects on an engineering, procurement and drilling (EPD) basis. The NIDC operates over 70 drilling […]
