Iraqi Economists Network

شبكة الاقتصاديين العراقيين

Latest Economy News

Investment contracts for drilling new wells

The Iraqi Drilling Company has announced its intention to conclude contracts with Chinese and American companies operating in Iraq to drill and rehabilitate dozens of oil wells in the country. The company indicated it is about to start drilling 20 wells in the Nasiriyah field in Dhi Qar, which are included in a long-term plan with the Dhi Qar Oil Company to advance the oil sector, due to be completed in over two years. After the relative relaxation of the impacts of the Coronavirus, the Iraqi Drilling Company resumed its negotiations with the international companies developing oil fields in the country and their counterparts affiliated with the Ministry of Oil in the provinces, in preparation for signing the postponed contracts with the aim of enhancing Iraq’s energy capabilities.
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Iraq inaugurates project to increase and green Basra refinery output

Prime Minister Mustafa Al-Kadhimi on Sunday laid the cornerstone for a project set to increase the South Refineries Company (SRC) production capacity in Iraq’s key Basra Port while also working towards greater environmental sustainability. “This project will increase our production capacity by 55,000 barrels per day,” Al-Kadhimi noted during the ceremony, “and give us oil products without leaving us with large volumes of low-value oil”. The project will build the Continuous Catalytic Cracker (CCR) and Naphtha Hydrotreating (NHT) units. The contract was signed in October between SRC and Iraq’s Ministry of Oil with Japan’s JGC Corporation.
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UNESCO announces winning architectural design of competition to rebuild Al-Nouri Mosque complex in Mosul

An international jury today announced that an entry by eight Egyptian architects won the international competition for the reconstruction of the historic Al-Nouri Mosque complex in Mosul, Iraq, a major component of UNESCO’s ambitious project for the rehabilitation of the ancient city, Revive the Spirit of Mosul.
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Kurdish, Iraqi leaders voice hope of better relations as 2021 budget passed

ERBIL, Kurdistan Region — Kurdistan Region and Iraqi leaders have spoken of their hope and optimism that the Wednesday passage of the 2021 budget bill will lead to closer ties between Erbil and Baghdad.  The budget approval puts an end to months of disputes between Erbil and Baghdad over the Kurdistan Region’s share of federal funds. “We hope that this becomes a precursor for developing relations between the Kurdistan Region, the federal government, and all political parties,” Kurdistan Region Deputy Prime Minister Qubad Talabani said in a statement early Thursday morning.
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The Impact of COVID-19 on Daily-wage Work and the Refugee Households that Rely on it in the Kurdistan Region of Iraq (KR-I), March 2021

Summary                                    Context Iraq, particularly the Kurdistan Region of Iraq (KR-I), has become host to a significant population of refugees after decades of regional and domestic conflict, compounded by the activities of the the group known as Islamic State of Iraq and the Levant (ISIL), the Syrian civil war, and political turbulence in countries l

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Iraq’s Maritime Heritage Finds a Haven in the Classroom. By Kira Walker

Rashad Salim’s efforts to discover and preserve knowledge of ancient boatbuilding crafts played a key role in the resurgence of interest in Iraq’s maritime heritage. Above, Salim with a pair of shasha reed bundle boats (Photo: © Rashad Salim).   When he first glided through the Euphrates as a child in his grandfather’s “tarada,” a traditional Mesopotamian boat, J

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New ‘American’ University in Baghdad Aims to Train Future Leaders

Gilgamesh Nabeel / 05 Apr 2021 The newly opened American University of Iraq–Baghdad, the country’s first American-style, liberal arts-focused institution of higher education outside the Kurdish region, aspires to train the next generation of Iraqi leaders. Students inside a classroom of the newly opened American University of Iraq–Baghdad (Photo: Courtesy of the unive

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Analysis: Can Arabs unplug Iraq from Iran? By Salah Nasrawi

Arab powerhouses trying to pull Iraq out of Iran’s sphere of influence might face a tremendous challenge Over the last few months Egypt, Jordan, Saudi Arabia and the United Arab Emirates (UAE) have stepped up efforts to enhance cooperation with Iraq, which still relies heavily on neighbouring Iran in energy and other economic domains. The two Sunni heavyweights, Saudi Ara

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Top Risks 2021

Ian Bremmer, President Cliff Kupchan, Chairman Overview At the start of 2021, the United States is the most powerful, politically divided, and economically unequal of the world’s industrial democracies. China is America’s strongest competitor, a state capitalist, authoritarian, and techno-surveillance regime that is increasingly mistrusted by most G20 countries. German

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The Iraqi National Economy

IMF Staff Completes 2020 Article IV Mission with
End-of-Mission press releases include statements of IMF staff teams that convey preliminary
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Is Demography Destiny? The Economic Implications of Iraq’s
Abstract This paper examines the fiscal and economic implications of Iraq’s current
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Humam Miscone*: In Iraq: 73 Development Documents Were
Since 2003, a total of 73 development policy, strategy, plan, roadmap, masterplan
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Oil & Gas Policy

OPEC launches 2020 edition of the World Oil
The 2020 OPEC World Oil Outlook (WOO) was launched today in Vienna,
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BP says the era of oil-demand growth is
BP Plc said the relentless growth of oil demand is over, becoming
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Tariq Shafiq* Oil and Politics in My Life,
A typical Iraqi individual From the outset, let me say that I
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Historical Oil Shocks. By James D. Hamilton
ABSTRACT This paper surveys the history of the oil industry with a
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