By John Lee. The United States and Iraq have agreed on the need for Iraq to become energy independent, and to quickly reopen the Iraq-Türkiye Pipeline (ITP), which can transport oil from Northern Iraq and Iraqi Kurdistan to the Turkish port of Ceyhan. In an announcement following US Secretary of State Marco Rubio's call with […]
By John Lee. Iraq's Council of Ministers has approved the conversion of the Qayyarah [Qayara] Gas Power Plant from simple-cycle to combined-cycle operation. According to a statement from the Prime Minister's Office, the State Company for Northern Electricity Production has been authorised to award the contract to 'ARGAN INT', following the completion of procedural requirements. […]
By John Lee. The Central Bank of Iraq (CBI) has concluded its first quarterly meetings of 2025 with the US Treasury Department and the Federal Reserve Bank, held in Dubai, UAE, with participation from international auditing and consulting firms EY (Ernst & Young), K2 Integrity (K2i), and Oliver Wyman. Key highlights from the meetings included: […]
By Ben Fishman, 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. Trump's Foreign Assistance Review Prioritizes Funding Over Policy The U.S. government has demonstrated a long-term interest in supporting the Iraqi security forces, investing $1.25 billion […]
By John Lee. The Washington DC-based Institute for Financial Integrity (IFI) has announced the launch of the Financial Integrity and Cross-Border Payments Training Program for the National Bank of Iraq (NBI), developed in partnership with the Central Bank of Iraq (CBI) and K2 Integrity. According to a press release from IFI, this groundbreaking initiative aims […]
By John Lee. A leading Iraqi economist has predicted that US President Donald Trump's pressure to reduce oil prices will harm the Iraqi economy, and could lead to a devaluation of the Iraqi dinar. In a post on Facebook, Dr Nabil Jaafar Al-Marsoumi, former Professor of Economics at Basra University, and member of the Advisory […]
By John Lee. US engineering firm KBR has secured a $187 million order from the U.S. Department of State to provide medical support services in Iraq under the Diplomatic Platform Support Services (DiPSS) contract. The five-year Medical Support Services Iraq (MedSSI) task order will run through 2029. Under the contract, KBR will operate a Diplomatic […]
By John Lee. Prime Minister Mohammed S. Al-Sudani met with Steve Lutes, Vice President of Middle East Affairs at the U.S. Chamber of Commerce and President of the U.S.-Iraq Business Council, to discuss Iraq-U.S. commercial relations. The talks focused on preparations for a forum of U.S. company representatives in Iraq and the progress on implementing […]
By John Lee. The Iraqi Ministry of Transport has announced increased interest from international companies in investing in Iraq's strategic transport initiatives. Aided by improved investment conditions and government policies, 2025 is expected to see exceptional foreign direct investment activity, according to the Ministry. Key opportunities include the Grand Faw Port project, with 11 shortlisted […]
By John Lee. President Dr. Abdul Latif Jamal Rashid met with Ken West, CEO of Honeywell Energy and Sustainability Solutions, on 21 January 2025 in Davos. Discussions centred on strengthening Iraq's collaboration with Honeywell in the oil and energy industries. The President highlighted Iraq's current stability, investment opportunities, and commitment to improving oil and gas […]
By John Lee. The Iraqi Cabinet has approved a Heads of Agreement (HOA) with US-based Halliburton for the development of the Nahr Bin Omar [Nahr Bin Umar, Nahr Ben Umar] and Sindbad oil fields in Basra. According to a statement from the Media Office of the Prime Minister, the project will employ Integrated Field Management […]
By John Lee. Just a month ago, Iraq Business News ran an article examining the possible connection between support for Donald Trump and a belief in the Iraqi Dinar revaluation theory -- the idea that the Iraqi Dinar (IQD) will revalue ("RV") to as much as 1000 times its current value. You can read the […]
