By John Lee. General Dynamics Land Systems Inc., Sterling Heights, Michigan, was awarded a $11,994,680 modification (P00014) to contract W56HZV-21-C-0072 for contractor logistics support services to sustain M1A1SA Abrams tanks and M88A1/A2 recovery vehicles. The modification brings the total cumulative face value of the contract to $90,954,439. Work will be performed in Camp Taji, Iraq, […]
By John Lee. The US State Department last month approved a possible Foreign Military Sale to Iraq of of Very Small Aperture Terminals (VSATs) and related equipment. The estimated total cost is $110 million, and the principal contractor will be Network Innovations, of Frederick, Maryland. Full statement from US State Department: WASHINGTON, January 14, 2026 […]
By John Lee. The US State Department has approved a possible Foreign Military Sale to Iraq of Contracted Logistical Services for VACIS XPL passenger vehicle scanning systems and related equipment. The estimated total cost is $90 million, and the principal contractor will be Leidos, of Reston, Virginia. Full statement from US State Department: The State […]
By John Lee. Discussions were held on supporting monetary and economic stability and strengthening strategic cooperation between Iraq and the United States. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Ismail Al-Alaq, met the Chargé d'Affaires of the United States Embassy in Iraq, Joshua Harris, on Thursday, to review prospects for enhancing […]
By John Lee. Energy Intelligence reports that Iraq's state-owned Basra Oil Company (BOC) has subcontracted management of the West Qurna-2 oil field to a consortium of Italian engineering firm Bonatti and local firm Hilal al-Basra [Crescent Basra]. West Qurna-2, operated by Lukoil under a service contract, is fully state-owned. Following recent US sanctions on Lukoil […]
By John Lee. The Ministry of Electricity is moving to deepen its strategic partnership with General Electric (GE) of the United States, as part of plans to add up to 24,000 megawatts of new generation capacity and strengthen the national power system. The Director General of the Planning and Studies Department, Hussein Badr, chaired a […]
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi FM Confirms Change in US Envoy as Political Tensions Mount Iraqi Foreign Minister Fuad Hussein told Kurdistan24 that Mark Savaya is no longer serving as the United States' special envoy to Iraq and […]
By John Lee. Russia's Lukoil has signed an agreement with US investment company Carlyle for the sale of LUKOIL International GmbH, a wholly owned subsidiary that holds the its international assets. The agreement is non-exclusive and subject to regulatory approval, including permission from the US Department of the Treasury's Office of Foreign Assets Control (OFAC). Lukoil […]
By John Lee. The operational plan for the Development Road project has been reviewed, alongside progress on engineering designs and economic feasibility. The discussions were held during a meeting involving Oliver Wyman, the project's financial advisory firm, and BTP, the Italian engineering consultancy, at the headquarters of the Iraqi Republic Railways Company. Key points covered […]
By John Lee. The United States Court of Appeals for the District of Columbia Circuit has reinstated a lawsuit against several pharmaceutical and medical-device companies, regarding their activities in Iraq. The original lawsuit claimed that the companies knowingly financed terrorist attacks in Iraq following the overthrow of Saddam Hussein, through their support to the Ministry […]
By John Lee. US President Donald Trump has warned that Iraq would face serious consequences if Nouri al-Maliki were to return as Prime Minister. In a statement posted on Truth Social, Trump said that Iraq had experienced instability and economic decline during Maliki's previous term in office. He added that, if Maliki were reinstated, the […]
By John Lee. How does the US control Iraq's oil revenues? Reuters has published an explainer, available via investing.com: Click here to view. (Sources: Reuters / Investing.com)
