The latest news on Iran – Iraq business – gas, oil & electricity Industries & more – brought to you by Iraq Business News
Levels of violence rose significantly in Iraq last week. At least 50 people were killed and 149 injured in nationwide incidents. This is almost double the number of fatalities recorded the previous week. A total of 48 bomb attacks left 21 people dead and 138 injured. This is twice the number of bombings reported the […]
Bloomberg reports that Iran Khodro, the country’s largest carmaker, plans to manufacture 30,000 cars at its production site in Iraq this year. The company is delivering components to the plant for assembly, mostly for the Samand sedan model (pictured). Operations at the plant, which has received investment from a local partner, started in 2011, the […]
Iran and Iraq will start new round of talks in Tehran on 26th May on issues such as developing the Sohrab joint oilfield and establishing a joint oil company, Iran's Mehr News Agency reports. The managing director of the National Iranian Central Oilfields Company, Mehdi Fakour, said that eight drilling rigs are currently in operation […]
The recent sanctions imposed on Iran by the United States has in turn put pressure on India to diversify to other oil producing nations. Until now Iran was India’s second largest supplier of oil, meeting 12% of the country’s needs. This position has now been taken over by Iraq. The reason for the movement away […]
Iran Daily reports that trade between Iraq and Iran is expecte be between $12 billion and $15 billion in the current Iranian year (started March 20), up from $9.7 billion last year. Iranian Foreign Ministry spokesman Ramin Mehmanparast described trade ties with Iraq as 'ever increasing', saying there are 'abundant capacities' for cooperation between the […]
Iran's PressTV reports that the country's Gas Engineering and Development Company is planning to build a gas pipeline to export gas to Iraq. Ali-Reza Gharibi, the Managing Director of company, said on Friday that "the 48-inch gas pipeline to Iraq, which will run for 220 kilometers, will be a branch of Iran’s sixth national gas […]
Iraq has reportedly asked several international companies to submit bids for the supply of 10 passenger trains. Bloomberg reports that France's Alstom, and China's Datong Electric Locomotive Company have been invited to submit bids, as have manufacturers in Turkey, Iran and Croatia. Jawad al-Kharsan, a spokesman for the national railway company, said the winning company […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Iran and Iraq have agreed to increase cooperation in industry and trade, the IRNA news agency reported. Iraq's Planning Minister, Ali Yusuf al-Shukri, Industry and Minerals Minister, Ahmed Nasser Al-Karbouli, and Trade Minister, Khairallah Hassan Babike, met with Iran's Minister for Industry, Mining and Trade, Mehdi Ghazanfari, in Tehran on Monday. They agreed to hold […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
Iranian carmaker Saipa is to build a car assembly plant in Iraq. The factory will have capacity to output as many as 120,000 cars per year if operated around the clock. Iran has developed its domestic car industry for five decades and produced 1.6 million vehicles last year, about half of them made by Iran […]
The under-secretary of the Iraqi Ministry of Industry met a delegation of Iranian companies to discuss industrial cooperation and possibilities of Iranian participation in work opportunities in Iraq. According to AKnews, the head of the Iranian delegation, Ameen Shari'ati, said that trade between the two countries reached $9 billion dollars. He hoped this figure would increase, […]
