Iraq Business News, Author at Panorama Insurance Brokers

Iraq and Lebanon sign Fuel Barter Deal

By John Lee. Iraq and Lebanon have finalised an agreement under which Iraq will provide the Lebanese Electricity Corporation with 1 million tonnes of heavy fuel oil over a one-year period. Lebanon’s caretaker Energy Minister, Raymond Ghajar, signed the deal in Baghdad at the weekend. The oil will be paid for in goods and services…. Read More

World Bank President discusses Iraqi Projects

By John Lee. World Bank Group President David Malpass met with Iraqi Prime Minister Mustafa Al-Kadhimi during his visit to the United States this week. During the meeting, they discussed the cooperation in financing infrastructure projects in the fields of water, airports, natural gas and energy projects, especially solar. President Malpass affirmed to Prime Minister… Read More

Founder Institute launches Accelerator Programme in Iraq

The Founder Institute, the world’s largest pre-seed startup accelerator, is excited to announce that it is officially launching its newest chapter in the Levant Region focusing on founders from Jordan, Iraq, and Lebanon. While the Silicon-Valley based programme has chapters in over 200 cities worldwide. Early-stage entrepreneurs in the Levant can now take advantage of… Read More

Soran and Zakho to be Autonomous Administrations

The Council of Ministers of the Kurdistan Region of Iraq has approved Soran and Zakho as autonomous administrations, in a meeting led Prime Minister Masrour Barzani. Prime Minister Barzani cited the size and significance of both districts as reasons to grant them autonomy, and proposed that self-governance would ease the workload of people in those… Read More

Kadhimi “wants US Firm to replace Exxon” at West Qurna 1

By John Lee. According to a report from Reuters, the Iraqi Prime Minister Mustafa al-Kadhimi has told the press in Washington DC that he wants another American company to replace ExxonMobil when it exits the West Qurna 1 oilfield. Meanwhile, S&P Global Platts reports that Exxon filed an arbitration case against the state-owned Basra Oil… Read More

UK’s Proserv Wins Contract at Majnoon Oilfield

By John Lee. UK-based global controls technology company Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels (WHCP) to the Basra Oil Company (BOC) for use on the Majnoon Oil Field in southern Iraq. The deal has been arranged through KBR, the Houston based engineering, procurement and construction management… Read More

Transporter Named for Iraqi Oil Exports to Jordan

By John Lee. The Jordanian Ministry of Energy and Mineral Resources has announced that Burj Al Hayat Transport and Trading Company has been awarded a tender to transport Iraqi crude oil to Jordan. The company will be responsible for transporting 10,000 barrels of crude oil per day from Iraq’s Baiji oil refinery to Jordan’s Petroleum… Read More

KRG receives share of Federal Budget, ends Salary Cuts

KRG receives share of federal budget, ends salary cuts Prime Minister Masrour Barzani on Sunday led a meeting with the Kurdistan Region’s Economic Council to address the resumption of full salary pay for government employees. Prime Minister Barzani reiterated that the KRG pays salaries from available revenue, and that they can do so more reliably… Read More

US Announces $155m Humanitarian Assistance for Iraq

The United States is pleased to announce nearly $155 million in additional humanitarian assistance for the people of Iraq as well as Iraqi refugees in the region and generous communities hosting them. With this additional funding from the State Department and the U.S. Agency for International Development (USAID), U.S. humanitarian support for Iraq amounts to… Read More

US and Iraq Agree to end US Combat Mission in Iraq

By John Lee. US President Joe Biden and Iraqi prime minister Mustafa al-Kadhimi have agreed to end the US combat mission in Iraq by the end of this year. After more than 18 years in the country, the role of US forces will change to one of training and advising the Iraqi military. There are… Read More