Baghdad, Iraq- The Iraqi Ministry of Industry and Minerals has secured government approval to develop a fully integrated phosphate fertilizer complex in Anbar and a sponge iron plant in Basra, marking a significant step in revitalizing the country's strategic industries.
The Higher Committee for Reconstruction and Investment approved the projects during its meeting on February 9, 2025. The phosphate fertilizer...
Baghdad, Iraq - Iraq exported over 95 million barrels of crude oil and petroleum products to the United States in 2024, marking a decline from 115 million barrels the previous year, according to the US Energy Information Administration (EIA).
EIA data showed that April recorded the highest monthly exports at 10.5 million barrels, while February saw the lowest at 4.68...
Baghdad, Iraq- The Iraqi Ministry of Oil announced the completion of a new refining unit at the Maysan Refinery on Monday, increasing its production capacity by 70,000 barrels per day (bpd).
Hamoud expressed appreciation for the support of Prime Minister Mohammed Shia Al-Sudani and Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul Ghani, especially during the latter’s visit to the facility. The newly...
Baghdad, Iraq- Iraq has reached a significant milestone in maritime regulation with the International Maritime Organization (IMO) officially recognizing an Iraqi auditor for the first time. Farhan Al-Fartousi, Director-General of the General Company for Ports of Iraq, confirmed on Wednesday that Captain Zain Al-Abidin Adel Abdul Munim has been certified as an accredited auditor under the IMO Member State...
Baghdad, Iraq- Iraq’s steady economic recovery, driven by stability, strong oil revenues, and large-scale reconstruction efforts, has sparked renewed interest from British businesses. The country has made significant progress in recent years, with improved security and visible development efforts aimed at rebuilding after decades of conflict.
Prime Minister Mohammed Shia’ Al-Sudani’s visit to London from January 14-16 underscored Iraq’s commitment...
Baghdad, Iraq - Iraq’s annual government spending has surpassed that of several stronger economies, despite ongoing economic stagnation and heavy reliance on oil. Manar Al-Obaidi, head of the Iraq Future Foundation, highlighted these concerns while analyzing the country’s financial trajectory.
Over the past decade, Iraq’s total revenues reached 1,028 trillion Iraqi dinars ($784.4 billion), with 92% coming from oil. The...
Baghdad, Iraq- The Ministry of Justice has taken new steps to promote digital transactions in legal and real estate departments. Authorities aim to enhance efficiency and reduce reliance on cash payments. Officials emphasize that digital solutions will improve service speed and transparency.
Ministry spokesperson Ahmed Laibi confirmed that most transactions now follow an electronic process. He explained that only a...
Iraq's Federal Commission of Integrity (COI) has called on member states of the United Nations Convention Against Corruption (UNCAC) to strengthen legal cooperation in recovering stolen assets and illicit funds. The commission emphasized that these funds are crucial for national development and reconstruction efforts.
Iraq Pushes for Asset Recovery
During a meeting with Swiss Ambassador Daniel Hunn, COI Chairman Dr. Mohammed...
Baghdad, Iraq- Iraq’s olive oil production has reached a record high in 2025, marking a major breakthrough for the country’s agricultural sector. The Ministry of Agriculture announced this achievement on Sunday, highlighting significant improvements in oil extraction rates.
According to the ministry, oil extraction rates have risen to 18% across various olive varieties, including Picual, Gerafa, and Saint Catherine. This...
Baghdad, Iraq- On Tuesday, Basrah crude oil prices saw a slight decline despite a rise in global oil prices. Basrah Heavy crude increased by just one cent, or 0.01%, reaching $74.52 per barrel, while Basrah Medium crude also gained one cent (0.01%), settling at $77.57 per barrel.
Meanwhile, global oil markets saw a positive trend, with Brent crude futures rising...