Trade Iraq and Syria reopen vital border crossing Iraq and Syria have reopened a major border crossing that was shut for security reasons six months ago. Syria said on Saturday that it had reopened the Al-Qaim-Buakamal crossing and Iraq has confirmed the reopening. It was closed when rebel forces advanced in the area to topple former president Bashar Al-Assad. In a statement on […] June 16, 2025
Oil & Gas Iraq considers plans to invest in Asian oil refineries Iraq intends to follow the lead of Saudi Arabia and other Gulf oil producers by investing in refineries in China, India and other Asian countries, where more than two thirds of its crude is marketed, a government adviser has revealed. Hatim Al-Fadli said research into potential projects would be conducted in the coming months and […] June 11, 2025
Manufacturing UK company to build $200m infant formula factory in Iraq The government-backed Iraq Development Fund and UK company Agrium Capital are planning to establish an infant formula production facility in the country, in a bid to reduce imports. The plant’s production will cover 85 percent of the local market’s needs, with a capital expenditure exceeding $200 million, state-run Iraqi News Agency reported, quoting Rod Bassett, […] June 6, 2025
Energy China to build ‘sub-critical’ nuclear reactor in Iraq China has agreed to build the region’s first nuclear reactor training facility in Iraq, as the Baghdad government increasingly looks to nuclear power to help tackle its persistent power shortages. Iraq’s atomic energy commission said on Monday that it would sign an agreement for the facility with China’s atomic energy authority and that the project […] June 3, 2025
Banking and Finance Kurdish authorities clamp down on crypto trading The semi-autonomous Kurdistan region in northern Iraq has launched a crackdown on cryptocurrency trading, following warnings by the Central Bank of Iraq. The Kurdistan Regional Government has formed an interior ministry committee to enforce the closure of crypto and foreign exchange companies, it said in a statement at the weekend. The committee, which can order […] June 2, 2025
Aviation Iraqi Airways to get 18 new Boeing and Airbus aircraft State-backed Iraqi Airways will add new Boeing and Airbus aircraft by 2027 as part of its fleet modernisation. The airline will receive eight B787-8 Dreamliner and 10 737 Max aircraft, bringing the total number of modern aircraft to 31 over the next two years, the state-run Iraqi News Agency reported, citing a transport ministry statement. […] June 2, 2025
Banking and Finance EY tells Iraq to change public bank management teams Iraq is planning to change the management teams at its public banks in an attempt to improve their governance and reduce losses. The move is part of a comprehensive restructuring plan devised by the London-based consultancy firm EY which may involve mergers and the creation of a new larger state-owned bank. Iraqi prime minister Mohammed […] May 30, 2025
Telecoms Elon Musk’s Starlink in talks to enter Iraqi market Starlink, a US satellite internet provider owned by billionaire Elon Musk, has sent a team to Baghdad to discuss pushing into the Iraqi market, a market of 47 million people. Prime Minister Mohammed Al-Sudani met the team in Baghdad on Wednesday and the talks focused on potential services related to digital transformation and improving Iraq’s […] May 29, 2025
Oil & Gas UK’s Wood secures $100m contract to lower Iraq gas flaring UK engineering company Wood Group has secured decarbonisation contracts worth $100 million for flare gas reduction across the largest oil fields in Iraq. The contracts include brownfield engineering, procurement and construction services, as well as modifications to enhance operational efficiency and minimise environmental impact, supporting Iraq’s commitment to reduce gas flaring by 78 percent by […] May 29, 2025
Energy Iraq finalises nuclear cooperation deal with Russia Iraq has given its top nuclear official the green light to finalise an agreement with Russia for the possible establishment of nuclear reactors for power generation and other uses. The cabinet, which met in the capital Baghdad on Tuesday, asked the head of Iraq’s atomic energy commission to sign the deal with Moscow. Iraqi local […] May 28, 2025
Oil & Gas Iraq’s ‘1.5 million barrels per day’ oil gap Iraq, often identified as a major quota violator in the Opec+ group, is pumping nearly 1.5 million barrels per day (bpd) below its production capacity, an oil official has said. The country has a sustainable output capacity of about 5.5 million bpd but actual crude production is close to 4 million bpd, according to Nizar […] May 27, 2025
Oil & Gas Iraqi oil ministry sues KRG over US contracts The Iraqi federal government’s oil ministry has sued the government of the semi-autonomous Kurdistan Region of Iraq over oil and gas contracts it signed with US companies, three sources with direct knowledge of the matter said and a document showed. The legal challenge is the latest obstacle to the resumption of flows through the Iraq-Turkey […] May 26, 2025
Real Estate Egypt’s Talaat Moustafa announces first Iraqi project Talaat Moustafa Group (TMG), a leading Egyptian real estate developer, will develop a mixed-use project in Iraq as part of its regional expansion plan. Last week the developer announced plans to invest OR1.5 billion ($3.9 billion) in Oman to develop two projects in west Muscat, offering 13,000 residential and hotel units. The Iraq development, proposed […] May 26, 2025
Oil & Gas Iranian gas supplies to Iraq fall in May Iranian gas exports to Iraq have fallen by more than half this month, causing a shortfall of nearly 3,500 megawatts (MW), sufficient to power about two and a half million homes, according to local media. Supplies so far in May have plunged from 45 million cubic metres per day (mcmd) contracted by Baghdad to 20 […] May 23, 2025
Finance Abu Dhabi VC EQIQ to increase Iraq tech investments Abu Dhabi technology-focused venture capital fund EQIQ says it plans to increase the value of its investments in Iraq as the country seeks to recover from more than four decades of war and economic sanctions. Last year, tech startups in Iraq raised less than $3 million in 10 deals, according to entrepreneurship ecosystem development platform […] May 23, 2025
Oil & Gas Iraq awards major oil deal to Chinese company Geo-Jade Iraq’s oil minister Hayan Abdel Ghani on Wednesday signed a large contract with a Chinese company and its local partner to develop an oilfield in the south of the country and build a refinery, a petrochemical complex and two power plants, according to the state press agency. Geo-Jade, the Chinese company, and the local company Crescent […] May 22, 2025
Oil & Gas Iraq rejects Kurdish oil deals with US companies Iraq has rejected the validity of two major oil and gas contracts recently announced by the Kurdistan Regional Government (KRG), declaring them illegal under federal law. The disputed agreements involve the development of the Miran and Topkhana-Kurdamir fields in Sulaymaniyah Governorate, the local Al Eqtisad News reported. But the oil ministry said in a statement […] May 21, 2025
Infrastructure Iraq to launch Baghdad metro project later this year Iraq has decided to launch a delayed multi-billion dollar Baghdad metro project at the end of this year, according to a senior official cited in local media. The project will be executed in stages and will take several years as it comprises more than 60 stations and covers 150 km of roads, said Mohammed Al-Najjar, […] May 19, 2025
Construction Iraq opens steel plant project as post-conflict demand surges Iraq has commissioned a 600,000-tonne-per-year steel mill more than 10 years after the project was awarded to Italy’s Danieli Group. Industry and minerals minister Khaled Al-Najm opened the project in the southern port of Basra this week, hours after he laid the ground stone for the first steel industries park to be constructed by China’s […] May 16, 2025
Infrastructure China’s Tsingshan to build ‘steel city’ in Iraq A Chinese company has won a contract to build Iraq’s first industrial city that will be dedicated mainly to steel and construction materials. Tsingshan Holding Group will build the city on the state-owned General Steel Company site in Iraq’s southern oil centre of Basra, after it was destroyed during the US-led invasion in 2003. Industry […] May 15, 2025
Aviation Rebuilt Mosul airport expects first passengers next month Iraqi prime minister Mohammed Al-Sudani will be among the passengers who will fly into the Northern Mosul airport in June for the first time since the facility was devastated by Daesh militants more than 10 years ago. The airport is scheduled to be put back in operation next month nearly three years after a project […] May 14, 2025
Oil & Gas Dana Gas to spend $100m on Egypt and Iraq expansion UAE company Dana Gas said it plans to invest $100 million in drilling for gas in Egypt and will add gas processing capacity at its joint venture field in Iraq’s Kurdistan province. Drilling 11 wells over the next two years, the company aims to increase gas recovery at its Egypt fields by 80 billion cubic […] May 9, 2025
