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 […]
By John Lee. Prime Minister Mohammed S. Al-Sudani met representatives of US-based UGT Renewables in London this week. The meeting included a presentation on the company's key projects, which span more than thirty countries worldwide, and explored potential cooperation with Iraq in its field of expertise. The Prime Minister highlighted the government's interest in investing […]
By John Lee. Prime Minister Mohammed S. Al-Sudani met with Stellar Energy's Executive Chairman, Peter Gibson, during his official visit to London to discuss the company's ongoing and future projects in Iraq. The talks focused on Florida-based Stellar Energy's work with the Ministry of Electricity on combined-cycle power plants and gas supply mechanisms, as well […]
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Khamenei pushes for US withdrawal from Iraq in meeting with Sudani Prime Minister Mohammed Shia al-Sudani's trip to Tehran is his first since the ouster of Syrian President Bashar […]
By John Lee. The Iraqi Cabinet has authorised the Minister of Finance, or a designated representative, to sign a loan agreement funded by the Export-Import Bank of the United States (EXIM, EXIMBank). The loan will support the implementation of combined-cycle projects for the Kirkuk Gas Power Plant under the Ministry of Electricity. According to a […]
By John Lee. Iraq's National Development Plan (NDP) 2024-2028 has finally been released. The plan was a collaboration between the United Nations Development Programme (UNDP) and Iraq's Ministry of Planning with the support of the United States Agency for International Development (USAID). Launched (sic) to great fanfare back in August, the plan has been kept […]
