By John Lee. Oil services company Petrofac has said it is "anticipating significant upside potential upon return to markets in Saudi Arabia, Iraq and the UAE". In 2019, customers in Iraq and Saudi Arabia suspended Petrofac from bidding on new contracts, while allowing it to execute pre-existing contracts, followed by a UAE customer in 2020. […]
By John Lee. Iraq has reportedly announced the resumption of direct flights with Saudi Arabia. Flights were suspended nearly two years ago because of the COVID-19 crisis. (Source: INA)
By John Lee. Iraq has signed a contract with Schlumberger to drill 96 horizontal and diagonal oil wells at the West Qurna 1 field in Basra. Saad Al-Damen, Vice President of Schlumberger, said the contract will add 200,000 barrels per day to production at the field. The Undersecretary at the Ministry of Oil, Hamid Younis, […]
Food Security in Iraq: Impact of COVID-19 with a special section on water shortages and adaptation (November 2020 - May 2021) Over the six-month period analyzed in this report, Iraq experienced significant turmoil. In addition to the effects of the pandemic, with cases overall on the rise in Iraq - now in its third wave […]
As part of its endeavours to strengthen and activate means of economic and investment cooperation with various countries of the world, the UAE, represented by the Ministry of Finance (MoF), signed an agreement to promote and protect mutual investments with Iraq. The agreement, which was signed today morning at the ministry's headquarters in Abu Dhabi, […]
By John Lee. Iraqi e-commerce company Orisdi has signed a six-figure deal with Al Sharqiya TV. Sharqiya is one of the largest media groups operating in Iraq, having launched the country's first fully independent privately-owned satellite TV channel in 2004, complemented by the addition of the Sharqiya News channel in 2008. The investment round was facilitated […]
By John Lee. Iraq's National Data Center Department, in the General Secretariat of the Council of Ministers, has held a meeting to discuss a system for controlling data on water and electricity lists and linking them to the actual property occupant. Importantly, the meeting included discussion of electronic payment and collection mechanisms. The meeting was […]
By John Lee. Iraq's Minister of Agriculture, Muhammad Al-Khafaji, has chaired a coordination meeting to approve the country's winter agricultural plan, along with the Minister of Water Resources, Mahdi Al-Hamdani. Due to the continuing shortage of water, the plan reduces the area allocated for irrigation by 50 percent compared with last season, with the exception […]
IOM assessments highlight evolving economic needs under unprecedented impacts of COVID-19 in Iraq Necessary measures to contain the spread of COVID-19 combined with volatile oil prices and a decrease in the value of the Iraqi dinar brought an end to two years of sustained economic growth in Iraq, heavily impacting individuals and communities affected by […]
By John Lee. The Deputy Assistant Secretary at the US Embassy in Baghdad, Jennifer Gavito, and Consul General Robert Palladino joined Erbil's Governor, Umed Khoshnaw, to announce additional U.S. funding for further renovations of the Hamam, and to create a children's center at the Erbil Citadel. U.S. funding to the Erbil Citadel now totals $1.5 […]
By John Lee. Oil Minister Ihsan Abdul Jabbar has reportedly told reporters that Iraq hopes LUKoil will keep its stake in the West Qurna-2 oil field. Russian news agency TASS quotes the Minister as saying that Iraq is "negotiating improvement of conditions" for the project. In July, Lukoil Chief Executive Vagit Alekperov was quoted as saying […]
By John Lee. The Iraqi cabinet has selected a site in Bismaya to build the new Sports City, which was gifted by King Salman bin Abdulaziz Al Saud in 2019. Iraq's Ministry of Youth and Sports will supervise the Sports City project in coordination with the Saudi side through the Iraqi-Saudi Coordination Council, which was […]
