Monday , February 19 2018
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Iraq

struggle for Iraq’s market islamic state

iraq

BAGHDAD:  Iraqi Prime Minister Haider Al-Abadi declared victory over the Islamic State (IS) group in December, attention immediately turned to how soon his government would start efforts to rebuild the Sunni-populated cities destroyed by the war against the group. These efforts are seen as vital for the stabilisation of the country and to prevent the re-emergence of the militants who ... Read More »

Economists in Iraq raise questions over rebuilding loans

iraq

BAGHDAD: The multi-billion loans and credits offered to Iraq at an international donors conference in Kuwait have raised dozens of questions about what the government will offer in return. It has also reinforced concerns in Baghdad about the encumbrance of Iraqi monetary policy with the policies of the International Monetary Fund and the World Bank. Iraq has estimated the cost ... Read More »

Iraq wheat rice imports to depend on local harvest in 2018

iraq

BAGHDAD: The amount of Iraq’s wheat and rice imports in 2018 will depend on the local harvest this season, the planning minister said. The amount of Iraq’s wheat and rice imports in 2018 will depend on the local harvest this season, the planning minister said on Wednesday. Salman al-Jumaili was speaking to Reuters on the sidelines of a conference in Kuwait where ... Read More »

United States urges help for Iraq

iraq

BAGHDAD: United States Tuesday urged members of the coalition fighting Daesh (ISIS) to help rebuild Iraq or risk a reversal of the gains made against the group, and said it would extend to Baghdad a $3 billion credit line. The United States leads the coalition and hopes that after a three-year fight to defeat the militants it can count in ... Read More »

Iraq boosts Asian oil exports to new record

iraq

BAGHDAD: Iraqi flows to the U.S. last year averaged just under 600,000 bpd, up a third from 2016’s volume. While January deliveries were robust, clambering above 700,000 bpd, they were even more impressive to Asia, rising to a record. Loadings from southern Iraq are the driving force behind the record. Exports from the Kurdish region of northern Iraq still remain ... Read More »

Iraq expects grain imports to be high this year

iraq

BAGHDAD: Iraq’s grain imports will be high this year as dry weather will curb domestic crops, an Iraqi official said on Sunday. This year is dry, our imports will be very large this year,” Sami al-Araji, the head of Iraq’s National Investment Commission said at a conference in Kuwait. Iraq, a major importer of grains, consumes around 5 million tons ... Read More »

Iraq seeks $100b to reconstruct transport

iraq

BAGHDAD :  Iraq seeks around $100 billion in foreign investment in transport, energy and agriculture as part of a plan to rebuild parts of the country and revive the economy after a three-year war on Islamic State. The government’s National Investment Commission published a list of 157 projects it will seek investment for at an International Conference for Reconstruction of ... Read More »

ICTSI Expands at Iraq’s Biggest Seaport

iraq

BAGHDAD: The phase two expansion will be completed in stages by the second half of 2019, and it will enlarge ICTSI’s Basra Gateway Terminal with 1,300 feet of new quay with a draft alongside of 46 feet and three new post panamax STS crnanes. The quay expansion will be adjacent to a new 75 acre yard area with seven RTGs ... Read More »

Iraqi army moves to secure planned oil route to Iran

iraq

BAGHDAD: Iraqi forces launched a security operation along a planned oil transit route to Iran on Wednesday, saying it was clearing and “destroying sleeper cells” in the mountainous border area where two armed groups operate. Iraqi oil officials announced in December plans to transport Kirkuk crude by truck to Iran’s Kermanshah refinery. The trucking was to start last week and ... Read More »

Iraq’s oil export ambitions may put strain on OPEC accord

iraq

BAGHDAD:  Iraq shipped a record 3.55 million barrels of crude a day from Basra, the country’s southern outlet to the Persian Gulf, in January, according to port-agent and Bloomberg tanker-tracking data. It sees capacity at 5 million a day by year-end, clouding prospects for keeping its commitment to the OPEC deal. Among OPEC, “it’s the country with the most aggressive ... Read More »

Iraqi oil export ambitions seen putting strain on OPEC accord

iraq

BAGHDAD: Iraq shipped a record 3.55 MMbopd from Basra, the country’s southern outlet to the Persian Gulf, in January, according to port-agent and Bloomberg tanker-tracking data. It sees capacity at 5 MMbpd by year-end, clouding prospects for keeping its commitment to the OPEC deal. Among OPEC, “it’s the country with the most aggressive growth plans that have some chance of ... Read More »

Iraq’s oil export ambitions may put strain on OPEC accord

iraq

BAGHDAD:Iraq shipped a record 3.55 million barrels of crude a day from Basra, the country’s southern outlet to the Persian Gulf, in January, according to port-agent and Bloomberg tanker-tracking data. It sees capacity at 5 million a day by year-end, clouding prospects for keeping its commitment to the OPEC. Among OPEC, “it’s the country with the most aggressive growth plans that have ... Read More »

Iraq crude oil swap with Iran to start next week

iraq

BAGHDAD: Iraq is expected to start crude oil exports from its northern Kirkuk Oilfield to Iran next week, an Iraqi oil official said. Alaa al-Yasiri, acting director general of Iraqi state oil marketer SOMO, added that Iraqi exports could increase, as the country plans to start trucking crude to Iran’s Kermanshah Oil Refinery under a swap agreement announced last month. ... Read More »

Iraq to comply with OPEC deal despite oil export capacity rise

iraq

BAGHDAD: Iraq will comply with the OPEC-led deal on reducing output even though Baghdad is working hard to increase its oil export capacity from the north and south of the country, its oil minister said on Monday.  Iraq’s export capacity was nearing 5 million barrels per day (bpd), including 4.6 million bpd from the south. Iraq, the second largest producer in ... Read More »

Iraq to build oil refinery in Al-Faw with Chinese companies

iraq

BAGHDAD: Iraq plans to build an oil refinery at the port of A-Faw on the Gulf with two Chinese companies, and is seeking investors to build three more, the oil ministry said on its website on Monday. The refinery in Al-Faw will have a 300,000 barrel-per-day capacity and include a petrochemical plant, it said. Two other refineries, each with a ... Read More »

Iraq’s southern oil exports fall in January from record

iraq

BAGHDAD: Oil exports from southern Iraq have fallen by 100,000 barrels per day (bpd) this month from a record high, according to shipping data and an industry source, as bad weather curbed shipments from OPEC’s second-largest producer. Southern Iraqi exports in the first 21 days of January averaged about 3.44 million bpd, according to shipping data tracked by Reuters and ... Read More »

Iraq’s southern oil exports fall in January from record

iraq

BAGHDAD: Oil exports from southern Iraq have fallen by 100,000 barrels per day (bpd) this month from a record high, according to shipping data and an industry source, as bad weather curbed shipments from OPEC’s second-largest producer. Southern Iraqi exports in the first 21 days of January averaged about 3.44 million bpd, according to shipping data tracked by Reuters and ... Read More »

Iraq orion sign deal to process gas from giant oilfield

iraq

BAGHDAD: Iraq agreed a deal with U.S. energy company Orion on Jan. 22 to process natural gas extracted at its giant Nahr Bin Omar oilfield.The memorandum of understanding, signed in Baghdad by representatives of the oil ministry and the U.S. company, will allow Orion Gas Processors to build facilities to capture the gas from the field located in southern Iraq ... Read More »

Iraq orion sign deal to process gas from giant oilfield

iraq

BAGHDAD:  Iraq agreed a deal with U.S. energy company Orion on Monday to process natural gas extracted at its giant Nahr Bin Omar oilfield. The memorandum of understanding, signed in Baghdad by representatives of the oil ministry and the U.S. company, will allow Orion Gas Processors to build facilities to capture the gas from the field located in southern Iraq ... Read More »

BP Signs MoU With Iraq Eyes Production Increase in Kirkuk

iraq

BAGHDAD: BP recently signed a memorandum of understanding (MoU) with the government of Iraq regarding production capacity increase in the northern Kirkuk oilfields, one of the biggest and oldest oilfields in the Middle East. Per the MoU, BP will be able to boost production by more than twice the existing capacity at Kirkuk to 750,000 barrels per day (bpd). To ... Read More »