The latest news from Iraq – oil, gas, business and more – brought to you by Iraq Business News
By John Lee. The Kurdistan Regional Government (KRG) Ministry of Natural Resources has confirmed that it has fulfilled its obligations regarding oil exports from the Kurdistan Region, in coordination with the Federal Ministry of Oil. It says that all domestic and foreign companies, with the exception of one foreign entity that has yet to formalise […]
By John Lee. Genel Energy and DNO have issued statements relating to recent media reports of an agreement on the export of oil from Iraqi Kurdistan via the Iraq-Turkey Pipeline to the port of Ceyhan. DNO, the largest operator in the Kurdistan Region, said it is eager to resume exports but "pursuant to agreements that […]
By John Lee. Iraq's State Oil Marketing Organisation (SOMO) reportedly announced on Tuesday that it has concluded all contracts and obligations with buyers of oil produced in the Kurdistan Region. The company emphasised that resuming exports from Kurdistan would restore Iraq's role as a key supplier to the European market. SOMO Director General Ali Nizar al-Shatri […]
By John Lee. Central Bank of Iraq (CBI) Governor Ali Mohsen Al-Alaq and the CBI's specialist team have met with consultancy firm Oliver Wyman to review the Iraqi Private Banks League's comments on the national banking reform plan. The Governor confirmed that the CBI had completed an in-depth discussion, during which participants showed understanding of […]
By John Lee. Menzies Aviation has announced it will deliver ground, air cargo and fuelling services at Mosul International Airport (OSM) in Iraq through MASIL, its joint venture with Iraqi Airways, Air BP and Al-Burhan Group. One fully operational, MASIL will provide a full suite of aviation services at OSM, under a new 10-year licence, […]
By John Lee. Iraq's Minister of Industry and Minerals, Professor Khaled Battal Al-Najm, has instructed the development of modern, environmentally friendly cement plants in the Badoush and Hammam Al-Alil complexes in Nineveh province. These new facilities will replace outdated plants built in the 1950s that still use the wet process. During his visit to the […]
By John Lee. Qi (International Smart Card), Iraq's largest electronic payment platform, has announced that it has entered into a landmark partnership with K2 Integrity (K2i), a US-based global financial integrity and compliance advisory firm. The multi-year collaboration aims to align Iraq's financial infrastructure with international standards in anti-money laundering (AML) and countering the financing […]
By John Lee. Wasit Governorate held its inaugural conference on the transition to clean energy this week, led by Governor Dr. Mohammed Jameel Al-Mayahi and attended by the head of the National Renewable Energy Team, members of parliament, local officials, and international companies specialising in solar and wind energy. The event showcased investment opportunities for […]
By John Lee. Prime Minister Mohammed S. Al-Sudani has launched the operations of the Permanent Council for the Development of the Private Sector in Iraq. The initiative aims to strengthen the role of the private sector in the national economy and address key legislative and institutional barriers. Prime Minister Al-Sudani highlighted the Council's responsibility to […]
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani chaired a meeting of the National Team for Renewable Energy Projects and Energy Efficiency, where he reviewed plans to enhance clean energy production and improve energy efficiency across Iraq. The Prime Minister emphasized the critical role of solar power in reducing reliance on traditional fuels and […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani inaugurated the construction of 10,000 serviced residential plots in Nahrawan, Baghdad, as part of the government's broader housing initiative. The 2,500-donum project aims to provide integrated infrastructure, including water, electricity, roads, schools, and healthcare facilities. Al-Sudani emphasized the government's strategy of expanding towards urban outskirts to alleviate […]
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani met on Friday with Marc Siewert, CEO of Berlin-based Veridos, on the sidelines of the 61st Munich Security Conference (MSC). Discussions focused on strengthening cooperation with Veridos, a global leader in secure passport and national ID card production, particularly through its manufacturing facility in Baghdad, which […]
