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Iraq Business News

Iraqi government asks international oil companies to get used to with low oil prices. Iraq’s oil minister Jabbar al-Luaibi sent a letter to several foreign oil companies, asking them not to rein in their ambitions on producing oil.
At an inopportune time, Iraqi government has sacked its defense minister. As per reports, on 25th August, 2016, the Iraqi National Assembly moved against Defense Minister Khaled al-Obeidi in a vote of no confidence, held in secret because of continued political haggling aimed, at preventing the decision.
On last Thursday, Prime Minister Haider al-Abadi said that the Iraqi army has dislodged Islamic State from the Qayyara oil producing region located south of their de facto capital Mosul.
Iraq’s resumption last week of oil shipments through a Kurdish-controlled pipeline bumped up its export capacity by 5 percent almost overnight.
On last Thursday, Iraqi forces pushed the Islamic State group from Qayyarah, a northern town considered strategic for any future offensive against the militants' last stronghold of Mosul.
During his visit to Kurdistan region, an American senator stated that Baghdad and Erbil must show full coordination along with international coalition to fight the battle in Mosul.
Global oil glut has resulted into geopolitical instability and the economic crash in Iraq.
Iraq is in news these days due to government and allied militia forces fight to reclaim territory from the Islamic Group militants.
Shabak community has been considered as one of the ethnic minorities in Iraq.
After a lot of turmoil, Iraq’s parliament has finally approved five new ministers nominated by Prime Minister Haidar al-Abadi.
Iraq Wallet’s ‘Pay with ZainCash’ has been anticipated to have a major impact on expanding e-commerce nationwide supporting the creation of an enabling environment for entrepreneurs to operate, while stimulating Iraq’s digital economy and kick-starting the adoption of e-commerce.
World has experienced the rise of ISIS, which led Iraq is deep economic worries.
Oil ministry of Iraq stated that a new natural gas unit has been started to be operated by Iraq in the southeastern region as part of a plan to use gas that was previously flared to generate electricity.
Jabbar al-Luaibi, the former head of Iraq’s biggest crude producer who was appointed oil minister, stated that he observes ways to resolve the energy dispute with the self-governed Kurds in the north of OPEC’s No. 2 producer.
In early August, oil export flow from Iraq’s Kurdistan region fell sharply due to pipeline outages. Due to recent attacks on the oilfield, production has also been declined.
According to health ministry of Iraq’s spokesperson, a fire that killed 13 children in an Iraqi maternity ward was apparently started intentionally. Ahmed al-Rudeini had previously said that fire at Yarmuk Hospital, one of the main such facilities in Baghdad, had been started by an electrical fault.
Iraq’s parliament has approved five new ministers after months of delay and repeated setbacks to Prime Minister Haider al-Abadi's efforts to replace the cabinet.
Reconstruction Fund for Areas Affected by Terrorism (REFAATO) has announced initiating an agreement for rehabilitating al-Muthana Bridge in northern Baghdad. The agreement has been signed with Ministry of Housing, and cost of the agreement is around five billion dinars.
Middle East region is now facing the worst heat waves ever. Experts have warned that high temperature can lead to such extent that human survival would become impossible. They have also advised to control greenhouse gas emission.
According to a report, Iraq has signed an agreement with the United Nations Development Program (UNDP) to upgrade the water network for Sulaimaniyah City
A new batch of F-16 fighting Falcon aircraft has been received by Iraqi Air Force from the US. This fresh arrival of new aircraft will help the country to fight against the violent militant group ISIS.
In southern Iraqi oilfields, clashes between protestors and security forces have erupted. According to local media, on last Sunday clashes began after a group of protesters attempted to block a road leading to oil fields in the district of Zubair, located near the country’s main port city of Basra.
Iraq makes agreement with Shell, Lukoil and BP to restart stalled investment in oil fields the firms are developing. Projects were in halt for more than a year, but with the fresh agreements the halted projects are expected to be started.
Oman Air has announced its global expansion with commencing flights to Najaf, Iraq, from the month of September this year. This is Oman Air’s first destination in Iraq, and the carrier will operate the flights aboard Boeing 737-800 aircraft.
A United Nations agency said on Thursday it would help Iraq to tackle endemic graft that is eroding its economy and institutions as Baghdad struggles to defeat Islamic State militants.
Minister of Education of Iraq, Mohammad Iqbal announced introducing a new project for changing educational framework of Iraq. The project proposes the conversion of three stages of education to four years for each phase dispersed among elementary, middle and junior high stages.
Abdel Hussein Abtan, Iraqi Minister of Transportation, stated that Iraqi Airways will restart its flight services to Europe from upcoming Sunday.
The United Nations Development Program (UNDP) in Iraq has officially endorsed a project that has been aimed to end water problem of the country.
Iraqi forces prepares for fresh attacks again IS to regain its territory from the militants. A few residents inside the city of Mosul, captured by IS militants. They have expressed their relief after escape.
On last Wednesday, a well that pumps oil from the Kirkuk fields in northern Iraq had been blown up, as reported by the North Oil Company.
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