By John Lee. The Iraqi Cabinet has approval a doubling in the capital of the Iraqi Housing Fund. The capital will increase from 1 trillion to 2 trillion Iraqi dinars ($1.4 billion), with the additional funds to be paid by the Ministry of Finance. (Source: Office of the Prime Minister)
By John Lee. An Iraqi delegation has visited the German capital Berlin to discuss economic cooperation between the two countries. The visit was organised by NUMOV (Nah- und Mittelost-Verein e.V.), and attendees at the meeting included the new Ambassador of Iraq in Berlin, Mr. Lukman Faily. The Ambassador spoke to the representatives of German companies […]
By John Lee. Iraq's Oil Minister Ihsan Abdul-Jabbar Ismail has said that the Iraqi National Oil Company (INOC) has opened a dialogue about gas exploration in the Western Desert in Anbar Governorate. The company involved was not named, but was described as "one of the major international companies". The Minister said Iraq is keen to […]
By John Lee. The Kurdistan Regional Government (KRG) has recently launched what it describes as "two massive electricity projects" in Makhmour. They are the Bnar power station, built by the Girshin Company, and a 33 KV power-line at Qaraj, implemented by Palos. The projects have a combined cost of 1.742 billion dinars [$1.2 million]. (Source: […]
By John Lee. The Iraqi-Lebanese Business Conference has been held in Beirut, under the auspices of the Lebanese Minister of Industry. The meeting discussed the promotion of trade in areas such as agriculture, industry and tourism. A representative of Beirut's Chamber of Commerce, Industry and Agriculture said that the Lebanese private sector is always ready […]
By Nussaibah Younis, for the European Council on Foreign Relations (ECFR). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's parliamentary election will produce more of the same It is important for Europeans to be realistic about the Iraqi government's ability to enact […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi economy structure is lopsided with heavy dependency on export of natural raw material, i.e., crude oil. The modest unbalanced growth that was accumulated by the end of 1970s began eroding […]
By John Lee. Iraq's Ministerial Energy Council approved discussions with US-based Chevron on the development of four exploration blocks in Dhi Qar. The statement from Iraq's Ministry of Oil gave no further details, but the project had previously been discussed during Prime Minister Mustafa al-Kadhimi's visit to the United States in August. Chevron currently has […]
By John Lee. The President of the Iraqi National Oil Company (INOC), Oil Minister Ihsan Abdul-Jabbar Ismail, has chaired a meeting with the CEO and management of Angola's Sonangol, the main operator of the Qayara [Qayyarah] oil field in Nineveh Governorate. Also joining the meeting was the management of the North Oil Company (NOC) and […]
By Dr Renad Mansour, for Chatham House. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi elections still do not deliver democracy As Iraqis head to the polls on 10 October, the headline for this election likely will be less about winners and losers […]
By John Lee. Shares in Petrofac were trading up more than 7 percent on Monday, as the company was ordered to pay GBP 77 million [$105 million] after the UK's Serious Fraud Office (SFO) secured further convictions in its investigation into bribery and corruption at the Jersey-registered energy services company. On Friday, Petrofac Limited pleaded […]
By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG) has opened a new wheat marketing center in Erbil, a year after announcing the project. In a statement on Twitter, Masrour Barzani said: "In less than a year, we are back to inaugurate the $250-million wheat marketing project in Erbil. A great new […]
