Tag Archives | Iraq

Iran to up Oil Output at Joint Iraq Fields

By John Lee. Iran’s Minister for Petroleum, Bijan Nadar Zangeneh (pictured), has revealed plans to increase production at the country’s western joint fields with Iraq by 200,000 bpd. The increase will happen over the next eight months and “surge to 700,000 bpd in the years to come”, according to a report from PressTV. Iran has […]

Iran may award North Azadegan to China

Iran may award phase two of the North Azadegan oilfield to China for development, Minister of Petroleum Bijan Zangeneh says. The China National Petroleum Corporation (CNPC) and Iran’s PEDEC have already signed an initial agreement to produce 25,000 barrels a day (bpd) from the field in the second phase, Iranian officials have said. “Under the […]

Video: Saudi-Iran Row – Iraq Offers to Mediate

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq is offering to mediate between Saudi Arabia and Iran to end their dispute, which began when Riyadh executed a prominent Shia cleric. This, along with Tehran’s alleged failure to protect Saudi Arabian […]

$30bn Electricity Projects for Foreign Investors

Iran plans to offer electricity generation projects worth €28 billion ($30 billion) to foreign investors. IRNA news agency quotes Energy Minister Hamid Chitchian (pictured) as saying that between 47,000 to 50,000 megawatts (MV) are expected to be added to generating capacity over the next 10 years, requiring an investment of $5 billion per year in […]

Rouhani Prioritises Iraq Transport Connections

President Rouhani has ordered the Minister of Road and Urban Development and the Head of the Organization of Management and Planning to push the implementation of the joint Iran-Iraq project for the construction of the Khorramshahr-Basra railroad and the completion of Darreshahr-Abdanan road to facilitate the movement of pilgrims between the two countries. At the […]

Iran “Drying Out the Iraqi Kurdistan Region”

By John Lee. The head of Iraq‘s Parliamentary Committee for Municipality and Tourism has said that there is a grave threat to water resources in parts of Iraqi Kurdistan due to an Iranian policy that will dry up the Region’s water resources originating in Iran. After visiting the Sirwan River in Halabjah province, Omer Haji […]

IS-Linked Cell Arrested near Iraqi Border

General Mohammad Ali Jafari (pictured), the head of Iran’s Islamic Revolutionary Guards Corps (IRGC), has told ISNA news agency that security forces have arrested members of a jihadist cell linked with the Islamic State group (IS, ISIS, ISIL) in Kermanshah province, near the country’s border with Iraq. According to AFP, he provided no details on how […]

3rd GECF Summit kicks off

The third Gas Exporting Countries Forum (GECF), presided over by Dr Rouhani, was opened in Tehran on Monday in the presence of presidents from nine countries. Among the heads of states attending the 3rd GECF are presidents of Russia, Iraq, Bolivia, Venezuela, Guinea Equatorial, Nigeria and Turkmenistan, as well as the Prime Minister of Algeria. […]

9 Presidents to Visit Tehran for GECF Summit

Iranian Minister of Petroleum Bijan Zangeneh (pictured) said the presidents and heads of state of 9 countries have confirmed their participation in the upcoming International Gas Exporting Countries Forum (GECF) meeting in Tehran on November 23. This is the first time that such a number of heads of state and government have confirmed their participation […]

NIDC to Add Rigs to South Azadegan Oilfield

The First Deputy Managing Director of the National Iranian Drilling Company (NIDC) said the company will add two more drilling rigs to the development project at South Azadegan oilfield. Mohammad Reza Takayedi told Shana that NIDC has been tasked with drilling operations of 40 wells in a 24-month period. He said if the operator of […]

Iran, Iraq Sign 6-Year Gas Deal

Iran has agreed to send 35 mcm/d of its gas to the Iraqi city of Basra for a period of 6-years. Based on the deal, signed by Head of National Iranian Gas Company (NIGC) Reza Araqi and Iraqi Deputy Minister of Electricity Khalid Hassan Saleh, Iran will supply 20mcm/d of natural gas to Basra in […]

Iraqi Kurdistan to Export Oil through Iran

BasNews reports that the Kurdistan Regional Government (KRG) is planning to build pipelines transporting oil and gas to and from Iran. Abdullah Akrayi, the Head of the KRG’s Department of Relations with Iran, told BasNews that Erbil has resumed discussions with Tehran to establish two pipelines importing gas from Iran and sending KRG oil to […]

Iranian Olive Branch Offers Diplomatic Paradigm Shift

By Hassan Ahmadian, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. It has been five years since the Arab Spring began roiling the Middle East and North Africa. During this time, conflict pitting Saudi Arabia and Qatar against Iran and its regional allies in Syria, […]

NIDC Considers Int’l Orders, Prioritises Home Business

The National Iranian Drilling Company (NIDC) is in negotiations with Italian firms Eni and Saipem, with a view to offering its services internationally. Company boss Heydar Bahmani also said NIDC is in talks with the Iraqi National Oil Company for increasing cooperation and the two companies have signed an agreement in this regard. But he […]

Is Qatar Iran’s door to the Gulf

By Ali Mamouri, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The map of alliances in the Middle East is changing rapidly, influenced by regional and international conflicts. Following the Iran nuclear deal signed in July and the improvement of Iran’s ties with the West […]

Iran ‘Creating own Jebel Ali in South’

Iran is planning to create a major free trade zone (FTZ) on its southwestern border areas with Iraq, reminiscent of the hugely successful Jebel Ali trade hub in the United Arab Emirates. The Arvand FTZ covers an area of more than 37,400 hectares, including Abadan, Khorramshahr, Minoo Island and the Shalamchech border crossing to Iraq. […]

Iran Khodro to Increase Production in Iraq

By John Lee. Iran’s main car manufacturer is set to raise its production level in Iraq by producing 3,000 vehicles per month. Iran Khodro (IKCO)‘s  Deputy CEO for Export, Saeed Tafazzoli, said its Iraqi partner had decided to allocate most parts of its production lines to IKCO’s vehicles. “IKCO’s rivals have failed to grab the […]

Iran Improves in Ease of Doing Business index

By John Lee. Iran has been ranked 118th out of 189 countries in the World Bank‘s recent Doing Business 2016 report, 12 places higher than the previous year. Top of the list were Singapore, New Zealand and Denmark, with last place going to Eritrea, just behind Libya and South Sudan. The pace of business regulatory […]

Iran Expands ICT Cooperation with Iraq

By John Lee. The Iraqi Prime Minister Dr. Haider Al-Abadi received Iran’s Minister of Communications, Mr. Mahmoud Vaezi, and his accompanying delegation at his office on Wednesday. During the meeting they reviewed bilateral relations between the two countries and cooperation in the field of communications and ways to strengthen it, in addition to the general […]

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Iran gives 30-day visas at airports

By John Lee. Iran is to start issuing 30-day visas for tourists from 58 countries upon arrival at its airports. The Persian-language newspaper Donya-ye Eqtesad says the visas can be extended by 15 more days. Foreign tourists could previously get 14-day visas at Iran’s airports and their visas could not be extended. Eligible countries are: […]