The International Finance Corporation (IFC), part of the World Bank Group, is supporting Sama Al-Manar and Manar FZCO, subsidiaries of Türkiye-based Tiryaki Agro, in developing a new state-of-the-art agro-industrial complex in Iraq's Umm Qasr Port, including a soybean crushing plant and warehouses, which will help bolster food security, create jobs, and diversify the country's economy […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading down around 5 percent on Wednesday afternoon following an update from the company. It said that local market demand remains difficult to predict, and while discussions are ongoing, there is still no official timeline for the reopening of the Iraq-Turkey Pipeline (ITP). Full statement […]
By John Lee. UK Export Finance (UKEF), the UK's export credit agency, has announced that it has secured £226 million [$285 million] in financing for the Iraqi government to develop over 350 kilometers of drainage infrastructure as well as 15 kilometers of stormwater and wastewater lifting stations near Hillah city. Upon completion, the project is […]
By John Lee. The United Nations Educational, Scientific and Cultural Organization (UNESCO) has awarded Turkish-based ARFADA YENİ TİCARİ EKONOMİK SOSYAL DANIŞMANLIK HİZMETLERİ LİMİTED ŞİRKETİ a contract for "Final External Project Evaluation of Reviving Mosul & Basra Old Cities projects (phases I &II)." The contract value is $36,250. According to UNGM: "The External Final Evaluation shall aims […]
By John Lee. On Sunday, senior officials from the Iraqi Federal Government in Baghdad met with KRG Prime Minister Masrour Barzani and his team to discuss the resumption of oil exports via the Iraqi-Turkish Pipeline (ITP) the Turkish port of Ceyhan. Deputy Prime Minister for Energy and Minister for Energy Affairs and Oil, Hayan Abdul-Ghani, […]
By John Lee. Canadian oil development and exploration company ShaMaran Petroleum has announced that it restarted operations at its Atrush field in Iraqi Kurdistan this week, selling oil to a local refinery via pipeline. In its statement for the nine months nine months ended 30th September, the company said it remains focused on cost control […]
By Ezgi Akin for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Turkey extends mandate for military operations in Syria, Iraq The Turkish parliament's extension of the mandate for another two years comes amid rising tensions between Turkey and the United […]
By John Lee. According to state-run Iraqi News Agency (INA), Iraq's Ambassador to Ankara announced yesterday (Thursday) that Turkey has agreed to resume oil exports via the Iraq Turkey Pipeline (ITP). It quotes Majid Al-Lajmawi as saying, "Turkish side agreed to immediately resume oil exports from the Iraqi-Turkish oil pipeline." This follows a statement to […]
By Julianne Geiger for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Oil Tensions Mount As Iraq Contradicts Turkey's Export Claims While Turkey said on Monday that Iraqi oil exports would resume this week through a stalled oil pipeline, Iraq is saying […]
By John Lee. Turkey's Energy Minister has said that the Iraq-Turkey pipeline (ITP), which has been out of operation since a court ruling in March, will be re-started this week. Alparslan Bayraktar confirmed on X (formerly Twitter) on Monday: "The oil pipeline, which was damaged in the devastating earthquake in February and the subsequent flood, […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Al-Monitor/Semafor summit: Iraq's Sudani says 'solution is in Baghdad' to issues with KRG The prime minister also pleaded for more US investment in Iraq's energy sector amid the oil […]
By Bekir Aydoğan for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Ethnic Tension in Kirkuk Signals Fractures in Ankara-Erbil Relations Longstanding tensions in the multi-ethnic city of Kirkuk in Iraq may once again spark confrontations between […]
