The latest business news from Karbala, Iraq – oil, power, rail, housing projects & more – brought to you by Iraq Business News
By John Lee. Iraq's Minister of Oil has announced upcoming investment opportunities in the refining industry. Minister Hayan Abdul-Ghani said the plans include increasing refining capacities as follows: Al-Amarah refinery (150,000 barrels per day); Al-Muthanna refinery (100,000 barrels per day); Kirkuk refinery (100,000 barrels per day); Qayyarah refinery (70,000 barrels per day), and, a new […]
By John Lee. The Iraqi Minister of Oil, Hayan Abdul-Ghani, has announced that the Karbala Oil Refinery will begin commercial production in mid-March 2023. The refinery's products, including gasoline and kerosene, will meet the highest European standards and specifications (Euro 5). Production capacity will gradually increase, reaching 140,000 barrels per day by the end of […]
By John Lee. The Iraqi government has approved the recommendation of the Ministerial Council for Energy (59 of 2022) to build a new 200-MW solar power plant in Karbala governorate. The decison was made at this week's cabinet meeting, chaired by Prime Minister Muhammad Shia Al-Sudani. In December 2021, the Cabinet approved a the contract […]
Iraqi youth graduate from UNDP's job matching project The United Nations Development Programme (UNDP) celebrates the graduation of the first wave of Iraqi youth from a Job Matching Project implemented in partnership with the Ministry of Youth and Sports, local government in Karbala Governorate, and several private sector companies. A total of 150 unemployed Iraqis […]
By John Lee. The Minister of Oil has announced the commencement of crude oil supplies to Karbala refinery for the start of its trial operation. Ihsan Abdul-Jabbar Ismail said that the refinery has a capacity of 140,000 barrels per day (bpd) and will help partially in meeting local needs and reducing imports of refined fuel. […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Markets Discount and Look through Violent Clashes The market, as measured the Rabee Securities RSISX USD Index, was up 2.1% for the month, and up 1.2% for […]
By John Lee. The Chairwoman of the National Investment Commission (NIC), Suha Daoud Najjar, has opened the Al-Kawthar Paper Factory in Karbala. The plant has a capacity of 250 tons of paper per day, which covers 17 percent of the Iraq's needs. It can also produce 150 tons per day of cartons, covering 15 percent […]
By John Lee. The Iraqi Cabinet has approved the Ministry of Electricity entering into a the contract for the construction of two solar energy projects in Karbala (300 megawatts) and Alexandria/Iskandariya (225 megawatts). The Ministry of Oil had previously announced the project in October, involving a consortium of companies led by the Norwegian Scatec, whose […]
By John Lee. China's CITIC Construction has won the bid for the first and second phases of AI Khairat heavy oil power plant in Iraq. Yang Jianqiang, Deputy President of CITIC Construction, held talks with Mazin Wajih, Chairman of Harlow International, in Dubai representative office, and received the letter of acceptance issued by Mazin Wajih. […]
By John Lee. Iraq signed an agreement to build a 525-MW solar power plant in Karbala. The project will be built by a consortium of companies led by the Norwegian Scatec, whose main shareholder is Equinor (formerly Statoil). Also involved are Egypt's Orascom and Iraq's Al-Bilal. The signing comes after recent announcements of renewable energy […]
By John Lee. Iraqi Prime Minister Mustafa Al-Kadhimi has ordered a doubling of the number of visas granted to visitors from Islamic countries who want attend the Arbaeen pilgrimage in Karbala. Just days ago, Iraq's Supreme Committee for Health and National Safety has approved the entry of 30,000 thirty thousand visitors from Iran and 10,000 […]
By John Lee. Iraq's Supreme Committee for Health and National Safety has approved the entry of 30,000 thirty thousand visitors from Iran and 10,000 from the rest of the world to attend the Arbaeen pilgrimage later this month in Karbala. Visitors will be required to show evidence of negative PCR test for COVID conducted within […]
