By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for September: Total exports of crude oil: 103,143,199 barrels. Revenues from crude oil exports: $9.494 billion, the highest since August 2022. Oil fields in central and southern Iraq accounted for 102,220,441 barrels of crude oil exports. Exports from Kirkuk through the port of […]
By John Lee. Iraq's Minister of Electricity has announced the successful completion of the electricity connection with Jordan, adding that imports from Jordan will start in the coming days. Ziad Ali Fadel also confirmed that the electricity connection contracts with neighboring countries are progressing as planned. He clarified that the Gulf-Saudi connection is also progressing […]
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The director general of the Iranian Ministry of Labor, Cooperatives and Social Welfare for employment development affairs in a meeting with Iraqi officials voiced the country's readiness to dispatch […]
By John Lee. The Saudi Export Development Authority (SEDA) has organized a trade mission to Iraq under the banner "Made in Saudi Arabia." The mission, held in Basra, aligns with the authority's goal of promoting non-oil Saudi exports, diversifying income sources, and expanding into promising regional and international markets. 28 Saudi companies and 130 Iraqi […]
From the Iraq Britain Business Council (IBBC): Lively debate at IBBC's well attended Cumberland Lodge retreat IBBC held its 11th Cumberland lodge retreat sessions on 25th -27th September, with 70 members and guests from Iraq and the UK. The sessions offered members access to experts, observers and officials from Iraq, the UK, and the Middle East, in open […]
By John Lee. The Kurdistan Regional Government (KRG)'s Prime Minister, Masrour Barzani, has launched a new initiative that will provide commercial loans through private banks to small and medium-sized businesses (SMEs) looking to expand. Full statement from KRG: On Monday, September 25, 2023, Prime Minister Masrour Barzani of the Kurdistan Regional Government (KRG) unveiled Project […]
By John Lee. Iraq's Basra Gas Company (BGC) has exported a record shipment of 25,000 tons of condensates, the largest shipment ever exported by the company. Andrew Weir, CEO of BGC, said the shipment was a "major achievement that will boost export rates and enhance Iraq's financial revenues." "Iraq has the potential to be a […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th September 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,413.7 0.01% 55.3% RSISX USD Index 1,390.0 […]
By John Lee. In its 39th regular session, chaired by Prime Minister Mohammed Shia Al-Sudani, the Iraqi Cabinet made important decisions concerning the oil sector and infrastructure development for exports: The Ministry of Finance will allocate the total cost of IQD 1,265,444,000,000 [$967 million] for the construction of offshore pipelines (4 and 5) and a […]
By John Lee. Iraq's Oil Minister, Hayan Abdul Ghani, has participated in the inauguration of the new oil tanker "Sumer" at Khor al-Zubair port in Basra. Abdul Ghani stressed the ministry's keenness to build a new oil tanker fleet through contracts with reputable international companies to build modern tankers of different capacities. The "Sumer" tanker […]
By John Lee. The Kurdistan Regional Government (KRG) has said it is placing a strong emphasis on the construction of water ponds as part of its strategic efforts to increase surface water resources and protect vital underground water sources. Under the leadership of the KRG's Ninth Cabinet, 110 ponds have already been created, serving a […]
By John Lee. Iraq's state-run Iraqi News Agency (INA) has quoted the Undersecretary of Extraction at the Ministry of Oil, Bassem Muhammad Khudair, as saying that the contract to develop the Akkas gas field will be granted in the coming days to a Ukrainian company. He did not name the company. Meanwhile, a official statement […]
