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Thursday , July 20 2017
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Iraq

Kurds urged to start talks with Iraq over oil revenue

IRAQ

BAGHDAD: The Kurdistan Regional Government is holding a referendum on September 25 on independence for the region. The UN envoy for Iraq has warned the road ahead is “extremely challenging“ following the liberation of Mosul, stressing that freeing other territory controlled by Islamic State will not be easy. Jan Kubis told the Security Council on Monday that instituting the rule ... Read More »

Hobby Lobby agrees to renounce smuggled Iraqi Artifacts

IRAWQ

BAGHDAD: A strange story broke late yesterday. The owners of Hobby Lobby, a national chain of arts and crafts stores, agreed to pay a $3 million federal fine and forfeit thousands of ancient Iraqi artifacts. American prosecutors say the antiquities were smuggled out of the Middle East and intentionally mislabeled when they were imported to the U.S. To find out ... Read More »

Iraq exported more than 592m barrels of oil since January

IRAWQ

BAGHDAD: On last Sunday, Iraq’s oil marketing company stated that the country exported 592.378 million barrels of petroleum during the first half of 2017. In its statement, SOMO said that represented a monthly exportation rate of 98.729 million barrels, and a daily rate of 3.290 million barrels. The company also stated that the exports yielded revenues worth USD26.771 million during ... Read More »

Hobby Lobby fined $3m for artifacts smuggled from Iraq

IRAQ

BAGHDAD: The arts-and-crafts retailer Hobby Lobby has agreed to pay a $3 million fine for illegally smuggling thousands of ancient clay artifacts into the United States from Iraq, federal prosecutors said Wednesday. Under a civil complaint in the U.S. District Court for the Eastern District of New York, Hobby Lobby will forfeit thousands of cuneiform tablets, clay bullae and cylinder ... Read More »

Karbala project set to open up Iraq

IRAQ

BAGHDAD: Work has started to create a new airport at Karbala, southern Iraq, with facilities also due to be improved at nearby Najaf. Alan Dron reports. A major addition to the Middle East’s portfolio of airports will appear as early as 2018, when the initial phase of the new Karbala International Airport (KIA) becomes operational. The airport will be situated ... Read More »

Airbnb to collect room tax in Puerto Rico for government

IRAQ

BAGHDAD: Puerto Rico has signed a deal with Airbnb under which the company will collect a room tax from hosts on the island and turn the revenue over to the U.S. territory’s government, which is mired in a financial crisis. Gov. Ricardo Rossello said Thursday collection will start in August and will ensure compliance from hosts as well as ease ... Read More »

Former Navy SEAL arrested for drug smuggling

IRAQ

BAGHDAD: A former Navy SEAL is facing federal criminal charges for his ties to a major marijuana drug smuggling operation. This arrest comes on a heels of an April CBS News investigation that revealed widespread drug use among Navy SEALs. James Dennis “JD” Smith Jr. was arrested Saturday in Charlotte, North Carolina. He’s charged with conspiracy to distribute andpossession with ... Read More »

Date exports earn $10m in 1 Month

IRAQ

BAGHDAD: More than 10,600 tons of different kinds of dates worth 373 billion rials (approx. $10 million) were exported from Iran during the first month of the current fiscal year (March 21-April 20), according to the latest data released by the Islamic Republic of Iran Customs Administration. The main export destinations for Iranian dates during the one-month period were Australia, ... Read More »

Oil slides due to Gulf diplomatic crisis

IRAQ

BAGHDAD: As diplomatic clash emerges between OPEC member, specifically between Saudi Arabia and Qatar, earlier gains of oil has erased out. Futures slipped 0.6% in New York, erasing an earlier gain of 1.6%. Saudi Arabia, Bahrain, the United Arab Emirates and Egypt said they will suspend air and sea travel to and from Qatar, escalating a crisis that started over ... Read More »

Oil slides due to Gulf diplomatic crisis

IRAQ

BAGHDAD: As diplomatic clash emerges between OPEC member, specifically between Saudi Arabia and Qatar, earlier gains of oil has erased out. Futures slipped 0.6% in New York, erasing an earlier gain of 1.6%. Saudi Arabia, Bahrain, the United Arab Emirates and Egypt said they will suspend air and sea travel to and from Qatar, escalating a crisis that started over ... Read More »

Iraq new oil king, beats Saudis in fastest growing market

IRAQ

BAGHDAD: Iraq is gaining the edge over Saudi Arabia in the world’s fastest-growing oil consumer amid an intensifying race among producers to retain their most-prized markets. Iraq was the top crude supplier to India for a third month in May, shipping 1 million barrels a day, according to shipping data compiled by Bloomberg. Iraqi supplies accounted for 23 percent of ... Read More »

OPEC deal faces headwinds as more supply hits market

IRAQ

BAGHDAD: An agreement to curtail production by 24 of the world’s major oil producers to restore market balance and support prices is facing some headwind, as more supplies are hitting the market this year. The 14 members of the Organization of the Petroleum Exporting Countries (OPEC) and 10 independent producers from outside the group lead by Russia, decided last month ... Read More »

Kirkuk’s oil to play big role in Kurdish independence

IRAQ

BAGHDAD: After decades of waiting, the Kurds are finally set to hold a referendum on independence in the fall. Massoud Barzani, the president of Iraqi Kurdistan, met June 7 with Kurdish political parties to discuss the referendum. Though the Gorran party (Movement for Change) and Kurdistan Islamic Group refused to attend the meeting, participants scheduled the referendum for Sept. 25. ... Read More »

Second country program framework for 2018-2023 has been signed by Iraq

IRAW

BAGHDAD: Dr Fouad Kadhim Shati Al Musawi, Deputy Minister for Ministry of Higher Education and Science and Technology, Iraq, and Mr Dazhu Yang, IAEA Deputy Director General and Head of the Department of Technical Cooperation, have signed agreement for Iraq’s Country Program Framework (CPF) for the period of 2018–2023. Mr. Oudai Al Khairallah, Ambassador of the Republic of Iraq was ... Read More »

Iraqi students held at KIA with pharma drugs worth 2.17 crore

arrest

BENGALURU: Two Iraqi B.Pharma students who attempted to smuggle pharmaceutical drugs worth over Rs 2.17 crore in 11 strolleys from Bengaluru to Doha were arrested at Kempegowda International Airport (KIA) by Bengaluru Customs officials. Sources with the Air Intelligence Unit (AIU) of the Customs identified the duo as Mostafa Ismael Dawood, 27, a student of a college affiliated to Rajiv ... Read More »

Project for building oil refinery in Kirkuk approved by oil ministry

IRAQ OIL

BAGHDAD: Permission for building an oil refinery has been given by the Iraqi government in Kirkuk. The project value shall be around $5 billion. Asim Jihad, oil ministry spokesperson, stated, “The oil ministry has given approval for a new refinery to be built in Kirkuk.” Baghdad’s decision to build a huge refinery in Kirkuk comes after the Black Force of ... Read More »

Iraq plans for hedging crude production

IRAQ

BAGHDAD: The head of the OPEC member’s oil marketer SOMO said that Iraq may look at hedging part of its crude oil production as a way to protect government revenue against the risk of oil price volatility. Falah Al-Amri, who is also Iraq’s OPEC governor, told, “It is in our strategy in the future that maybe we will consider hedging ... Read More »

Project for building oil refinery in Kirkuk approved by oil ministry

IRAWQ

BAGHDAD: Permission for building an oil refinery has been given by the Iraqi government in Kirkuk. The project value shall be around $5 billion. Asim Jihad, oil ministry spokesperson, stated, “The oil ministry has given approval for a new refinery to be built in Kirkuk.” Baghdad’s decision to build a huge refinery in Kirkuk comes after the Black Force of ... Read More »

Iraq looking to hedge its crude production

IRAQ

BAGHDAD: Iraq may look at hedging part of its crude oil production, the head of the Opec member’s oil marketer Somo said, as a way to protect government revenue against the risk of oil price volatility. “It is in our strategy in the future that maybe we will consider hedging part of Iraqi crude … Somo is floating an idea ... Read More »

Inflation rate goes higher by 0.6% in April 2017

IRAQ

BAGHDAD: Inflation indices of Iraq have raised by 0.6% during the month of April compared to the preceding month, as revealed by Iraqi government. Spokesperson of the Iraqi Planning Ministry Abdul-Zahra al-Hindaw attributed the increase in a rise in food and non-alcoholic beverages prices by 2.2%, besides 0.4% and 0.1% in housing and tobacco prices respectively. The report was based ... Read More »