By John Lee. PepsiCo has reportedly signed two strategic agreements with Iraqi partners covering expanded beverage manufacturing and agricultural development. The agreements were signed at the US-Iraq High-Level Business Summit at the US Chamber of Commerce in Washington DC, on the sidelines of Prime Minister Ali al-Zaidi's visit to the United States. The first agreement, […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Struggles to Meet Power Demand amid Drop in Iranian Gas Imports The Iraqi government is producing less than half of the country's electricity needs despite scorching summer temperatures, a shortfall officials partly attribute […]
By John Lee. The Iraqi Private Banks League (IPBL) has welcomed the recent announcement that seven Iraqi private banks are to regain access to foreign currency correspondent banking channels (excluding the US dollar). The announcement followed high-level talks between the Central Bank of Iraq (CBI) and officials at the US Treasury. An IBPL statement described […]
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. 1. A historic volume of agreements - 48 in total A total of 48 agreements, memoranda of understanding, cooperation agreements and partnership declarations were signed between public and private sector entities in Iraq […]
By John Lee. Basra Oil Company (BOC) has awarded a contract to US company Halliburton to provide Integrated Field Management Services (IFMS) and Engineering, Procurement, and Construction Management (EPCM) for the Nahr Bin Umar oil field and Sindbad oil and gas fields in southern Iraq. The contract scope includes field development planning, production optimisation, digital […]
By John Lee. A development contract for the Hamrin oil field has been activated with US-based HKN Energy in a ceremony attended by Minister of Oil Basim Muhammad Khudhair al-Abadi. According to the Ministry of Oil, the contract targets a peak production rate of 140,000 barrels per day of oil, alongside approximately 40 million standard […]
By John Lee. Starlink has been granted an official licence to operate in Iraq. The licence was signed at a ceremony held at the American Chamber of Commerce in the United States, in the presence of Prime Minister Ali al-Zaidi. According to Iraq's Communications and Media Commission (CMC), the licence was signed by the commission's […]
By John Lee. Iraq has signed 48 agreements, memoranda of understanding (MoUs) and partnership declarations with US public and private sector entities spanning the oil, electricity, technology, finance and agriculture sectors. According to Iraq's Prime Minister's Office (PMO), the signing ceremony took place on Friday evening Baghdad time under the auspices of Prime Minister Ali […]
By John Lee. A floating gas platform project at Khor al-Zubair is set to proceed. following a meeting in Washington between Prime Minister Ali al-Zaidi and the chief executive of US-based Excelerate Energy. In October, the Ministry of Electricity and Excelerate Energy agreed on a floating storage and regasification unit (FSRU) with a capacity of […]
By John Lee. An agreement has been reached to open a branch of JP Morgan in Iraq to finance projects implemented by American companies. The deal was agreed during a meeting in Washington between Prime Minister Ali al-Zaidi and representatives of the bank. Earlier this month, we reported that KAR Electrical Power Plant Production Trading […]
By John Lee. Seven Iraqi banks have been cleared to re-enter non-dollar international correspondent banking channels, following high-level meetings between the governor of the Central Bank of Iraq (CBI) and officials at the US Treasury. The meetings followed Prime Minister Ali al-Zaidi's official visit to the United States and his meeting with the US President. […]
By John Lee. Iraqi Prime Minister Ali al-Zaidi has met International Monetary Fund (IMF) Managing Director Kristalina Georgieva in Washington on Saturday to discuss Iraq's economic outlook and the prospects for cooperation between the two parties. According to the Prime Minister's Office (PMO), talks covered economic and financial reform policies, efforts to achieve sustainable growth, […]
