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Iraq Business News

Oil minister of Iraq stated that his country's oil exports should hit a record of about 3.1 million barrels per day in April as output from the country's southern fields stays strong and weather conditions improve.
Iraq has unveiled plans to build three solar power plants and one wind power plant. The country’s Ministry of Electricity, in coordination with the National Investment Commission (NIC), is tendering for four renewable projects of between 5 and 10MW.
Iraqi Minister of Transport Baqir Jabr al-Zubeidi said that both Iran and Iraq are implementing $45 mln-railway project.
Finance minister of Iraq, Hoshyar Zebari stated that Iraq has decided to issue $5 billion in international bonds and is negotiating the terms.
Oil minister of Iraq stated that troops were closer to securing the country’s largest refinery after an attack by Islamic State militants last week.
It has been reported by a German newspaper that Islamic State group has lost their control over the large oilfields in Iraq.
Together Iraq and Belarus have outlined blueprint of plan of action to make their educational sector more robust and modernized. One of the agenda of discussion was training of Iraqi students in Belarusian universities. Recently, Iraqi Minister of Foreign Affairs Ibrahim Al Jaafari met with Belarusian Education Ministry Mikhail Zhuravlev to discuss the matter.
Minister of road and urban development of Iran soon pay to visit Iraq in a bid to pursue a plan to connect the railroad networks of the two neighboring countries
According to industry sources, though Iraq has set the first monthly price for its new Basra Heavy crude for May, there is slight delay in process of launching grades.
ISIS has made a claim that it controlled part of Iraq's largest oil refinery Sunday, posting images online that purported to show the storming of the facility, fierce clashes and plumes of smoke rising above the contested site.
Vice President of the US, Joe Biden stated that while facing the ongoing threats of the Islamic State of Iraq and Syria (ISIS), the only way forward is with a strong, united Iraqi government, free of factions and sectarian divisions.
On last Thursday, Swedish government stated that the Nordic country will send armed forces to Iraq to support the operations against ISIL fighters after a request from the Iraqi government.
Gulf Keystone Petroleum, Iraqi Oil Company, stated that it is in talks with the sale of the company, in spite of making significant achievement in Iraq for last few years.
Many foreign carriers have halted flights because of conflict with ISIS Iraq is adding a fifth privately-owned carrier to help maintain travel links for its 8 million annual air travellers as major foreign operators halt services because of the country’s armed conflict with Islamic State militants.
Iraq is discussing its financial situation with the International Monetary Fund but has made no decision to request emergency assistance, Iraqi Finance Minister Hoshiyar Zebari said on Tuesday.
Archaeologists from the University of Manchester have been working in Iraq and making "significant discoveries", while Islamic State militants have been bulldozing historic Assyrian sites.
Defying the odds, Iraq has managed to increase its oil exports to the highest level in more than 35 years.
Haider al-Abadi, prime minister of Iraq, stated that the Baghdad government would work with Kurdish authorities to liberate the northern province of Nineveh from Islamic State militants. During his first visit to the Kurdistan region since becoming Prime Minister last year, Abadi said Baghdad and Erbil faced a common enemy and would improve ties to help confront the threat.
The central Karbala governorate of Iraq is planning for building an industrial city, which will magnetize foreign as well as local capital into the manufacturing sector of the province.
Hanwha Group, 10th largest conglomerate in Iraq, stated that its building affiliate has won a $2.12 billion project for building infrastructure for a new city in Iraq.
People close to President Recep Tayyip Erdoğan are the beneficiaries of a lucrative oil deal signed between Ankara and Arbil that has laid the framework for the transfer of Kurdish oil, as the company granted the exclusive right to the transfer through Turkey is run by a former deputy candidate from the ruling party and an ex-official from Çalık Group, a company known to have ties with the ruling party.
Iraqi prime minister, also the General Commander of Armed Force, Mr. Haider al-Abadi stated that Iraqi forces will restore the displaced citizens
The Iraqi Football Team U-23 qualified for the Asian Cup U-23. This enables Iraqi team to qualify for the the Olympic Games of Rio De Janeiro 2016. The Iraqi team qualified on top of the first group despite the 2-2 draw with the Omani counterpart in their match played on Tuesday evening in Muscat.
After spending an extra $30 million to replace lines and equipment overrun by Daesh, a Kurdish internet company expects to open a long-delayed $100 million (Dh367.3 million) broadband cable running from Turkey to Iraq’s Gulf coast by the end of 2015.
In the month of March, OPEC oil supply has jumped to its highest since October as Iraq’s exports rebounded after bad weather. On the other hand, Saudi also pumped, close to its record production level.
According to a security source, the security forces of Iraq and volunteers have liberated the building of Salah-il-Din Provincial Council in central Tikrit city.
According to a security source, the Directorates of Civil Defense and Central Prison have been liberated from the control of ISIL militants.
A £200,000 loan, granted by the Tees Valley Catalyst Fund, has been used by Copperchase. Tees Valley Catalyst Fund is managed by FW Capital. The aim of Copperchase for borrowing the amount is securing the required performance bond from Lloyds Banking Group.
Airways Aviation, well known global aviation educator, has planned to open its latest Aviation Theory School in Baghdad.
On last Monday, it has been reported that Iraq has officially invited global investors to bid on its multi-billion-dollar Grand Faw port project and said those interested must specify their funding sources.
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