Iraq Economic News and Points To Ponder Thursday Afternoon 9-18-25
Prime Minister: The Government Attaches Great Importance To The Work Of Major Oil Companies In Iraq, Especially American Ones
Thursday, September 18, 2025, | Politics Number of readings: 154 Baghdad / NINA / Prime Minister Mohammed Shia al-Sudani stressed: "The government attaches great importance to the work of major oil companies, especially American ones, in Iraq.
A statement by his media office said: "Al-Sudani received, today, Wednesday, the Chairman of the Board of Directors and CEO of the American company Halliburton, specialized in the oil sector and energy technology, Jeff Miller, and his accompanying delegation."
Al-Sudani stressed during the meeting: "The government attaches great importance to the work of major oil companies, especially American ones, in Iraq, to develop the energy sector, raise the efficiency of production operations, and achieve the desired aspirations."
He urged Halliburton to expand service centers in Iraq for various engineering specialties, and establish research centers to support technological development for drilling and reclamation operations, as well as open training centers to develop human capabilities and localize some industries, including the production of chemicals for drilling and production and the manufacture of oil equipment for drilling purposes and submersible pumps.
For his part, Jeff Miller expressed his thanks to the Prime Minister for the continuous support to complete the work, and expressed the company's readiness and desire to reach an agreement with the Ministry of Oil to sign a development contract Bin Omar and Sinbad fields in Basra Governorate, with the aim of producing gas, employing Iraqi cadres, and localizing the oil industry. /End https://ninanews.com/Website/News/Details?key=1252603
The Minister Of Oil Affirms The Government's Support For The Iraq Investment Forum
Buratha News Agency1832025-09-18 Deputy Prime Minister and Minister of Oil, Hayan Abdul-Ghani, reviewed preparations for the Iraq Investment Forum on Thursday, stressing the government's support for the forum to attract foreign capital.
A ministry statement said, "Deputy Prime Minister and Minister of Oil, Hayan Abdul-Ghani, met with a delegation from the preparatory committee for the Iraq Investment Forum, headed by Ibrahim Al-Masoudi Al-Baghdadi, Chairman of the Iraqi Economic Council and member of the preparatory committee."
The statement added, "The Council Chairman provided a detailed explanation of the dialogue session on the Ministry of Oil, which is scheduled to be chaired by the Minister of Oil on September 27. During the meeting, investment opportunities presented by the Ministry of Oil were discussed, aiming to attract investment in the oil and gas sector and petroleum industries."
The statement continued, "During the meeting, logistical preparations and preparations related to sending invitations to the relevant ministers, including the Turkish and Lebanese oil ministers, were discussed."
The Minister also affirmed his "keenness to support the forum, which reflects the government's drive to stimulate the national economy and attract foreign capital."
The statement also noted that "the meeting was attended by the Executive Director of the Economic Council, Thabet Kazim Al-Safi, the Assistant Director General of the Economic Department at the National Investment Commission, Hussein Ali Kanbar, and Hazem Al-Shammari from the Media and Public Relations Department." https://burathanews.com/arabic/economic/465323
Government Advisor: The Iraqi Economy Urgently Needs To Diversify And Move Away From Its Oil Dominance.
Time: 2025/09/18 19:22:03 Reading: 210 times {Economic: Al Furat News} The Prime Minister's economic advisor, Mazhar Mohammed Salih, confirmed that the Iraqi economy faces fundamental challenges due to its overreliance on crude oil exports.
Saleh told Al Furat News Agency, "The Iraqi economy is one of the most rentier economies in the world, with oil revenues accounting for more than 90% of public revenues and nearly 60% of the gross domestic product."
He explained that "this fragile structure makes the economy highly vulnerable to fluctuations in global oil prices, which hinders the achievement of comprehensive and sustainable development."
Saleh called for "the necessity of adopting serious and effective policies to diversify sources of revenue and reduce dependence on oil," noting that "diversification opportunities require continuous, long-term planning."
The economic advisor highlighted promising sectors as drivers of non-oil growth, foremost among them the agricultural sector, where Iraq boasts fertile lands and water resources. He noted that "this sector can play a pivotal role in achieving food security and reducing imports, particularly so-called virtual water, which is the import of food from countries that source our country's water resources."
Saleh emphasized the importance of manufacturing industries, particularly food, textiles, petrochemicals, and pharmaceuticals, which have the potential for rapid growth, in addition to infrastructure-related industries.
He pointed out that there are "significant opportunities to revive stalled industrial cities, and that effective implementation of the Development Road Project strategy will represent a strategic focus for comprehensive development, including the revival of major industrial cities."
He pointed out that "Iraq's geographical location gives it a pivotal regional role in global trade connectivity," stressing that "the Grand Faw Port project represents the beginning of a major strategic opportunity to diversify the national economy."
Saleh concluded his remarks by noting that Iraq is "an undisputed destination for religious and cultural tourism," emphasizing the importance of the country entering the digital age and capitalizing on the tremendous opportunities available in digital technology, such as electronic payments and e-commerce. LINK
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