By John Lee. Iraq's state-owned Oil Exploration Company and Al-Qarnain Petroleum, a subsidiary of China's ZhenHua Oil, have signed a contract for a two-dimensional seismic survey of the Al-Qarnain (Al-Quraynan) exploration block. Minister of Oil, Hayan Abdul Ghani, described the block as a promising oil and gas prospect on Iraq's border with Saudi Arabia. According […]
By John Lee. Iraq's Minister of Industry and Minerals, Khaled Battal Al-Najm, chaired a meeting at the Ministry's headquarters to explore a potential partnership agreement with Saudi company Ajyal for the establishment of a petrochemical complex in Basra. The proposed complex would be built on the site of the State Company for Petrochemical Industries in […]
By John Lee. The Governor of Nineveh, Abdul Qader al-Dakhil, has received Mohammed bin Abdulaziz Al-Ajlan, Chairman of the Saudi Contractors Authority, along with a delegation of Saudi businessmen. The meeting focused on enhancing cooperation between Iraq and Saudi Arabia in areas of mutual interest. Governor al-Dakhil described the visit as a significant step towards […]
By John Lee. Prime Minister Mohammed S. Al-Sudani oversaw the signing of a Memorandum of Understanding between the National Investment Commission (NIC) and Egypt's Talaat Moustafa Group for Real Estate Development (TMG) to develop part of the economic zone in Al-Rafeel [Rafael] City, west of Baghdad. The agreement involves Iraqi-Egyptian-Saudi investment and includes participation from […]
By John Lee. Talaat Moustafa Group Holding (TMG Holding) has confirmed that it is in advanced negotiations with Iraq's National Investment Commission (NIC) to develop a large-scale mixed-use project southwest of Baghdad, marking a major step in its regional expansion. The project, spanning approximately 14 million square metres [14,000 donums; 1,400 hectares], is expected to […]
By John Lee. Iraq's Ministry of Industry and Minerals has announced the signing of a strategic agreement between Iraq's State Company for Glass and Refractories and Saudi-based Ajial Company to develop the largest integrated industrial complex in the region based on silica as a core raw material. The deal was signed under the patronage of […]
By John Lee. Minister of Electricity Ziyad Ali Fadel held what he described as a productive meeting with representatives of ACWA Power of Saudi Arabia, one of the world's leading renewable energy companies, to finalise contracting procedures for the establishment of a 1,000-megawatt solar power plant in Najaf. The two sides agreed on a roadmap […]
By John Lee. The Iraqi Ministry of Oil has reaffirmed its full commitment to the OPEC+ production agreement, including additional voluntary cuts and compensation for excess production. In a statemet on Monday, the Ministry will implement necessary measures to ensure compliance, including submitting an updated plan to offset previous overproduction. This commitment was reiterated during […]
By John Lee. Qatar-based Ooredoo Group has partnered with France's Alcatel Submarine Networks (ASN) to build the Fibre in Gulf (FIG) submarine cable. The cable, connecting Qatar, Oman, the UAE, Bahrain, Saudi Arabia, Kuwait, and Iraq, will have a capacity of up to 720Tbps with 24 fibre pairs. Ooredoo said in a statement that the […]
By John Lee. Saudi Arabia cafe chain Kyan Café has opened its first branch in Iraq. The outlet in Basra will initially open from 2:00pm until midnight, but has plans to extend this to 24 hours. It is Kyan's 356th store worldwide. (Source: Kyan Café)
By John Lee. Iraq's Minister of Oil, Hayan Abdul Ghani, met with a delegation from Saudi Arabia's Al-Khorayef Petroleum on Tuesday, including senior representatives Mohammed Al-Dughmi and Khalid Hamza Al-Rikabi. Discussions focused on enhancing cooperation in the oil, gas, and energy sectors. Alkhorayef Group joined the Iraq Britain Business Council (IBBC) in 2023. (Source: Ministry […]
By John Lee. Iraq's National Investment Commission (NIC) Chairman, Dr. Haider Mohammed Makiyya, announced the signing of the Investment Protection and Promotion Agreement with Saudi Arabia on November 24, 2024. The agreement, finalized ahead of the 28th World Investment Conference in Riyadh, aims to create a secure environment for Saudi investors in Iraq, supported by […]
