Business Iraq


  • UPDATE 1-Germany offers 500 mln euros in credits to Iraq Thursday, 11 Feb 2016 | 10:14 AM ET

    BERLIN, Feb 11- Germany will provide 500 million euros worth of credit to Iraq to help it weather the sharp downturn in global oil prices, Chancellor Angela Merkel said on Thursday after talks with Iraqi Prime Minister Haider al-Abadi. "Germany is ready to do what it can... to stabilize Iraq in view of the big security challenges and economic challenges," Merkel told a...

  • *Mideast OPEC producers fight for market share in Asia. DUBAI, Feb 9- Iraq has raised the March official selling price for Basra Light crude to Asia by $0.20 to minus $2.60 a barrel against the average of Oman/ Dubai quotes from the previous month, the State Oil Marketing Organization said. Basra Heavy to Asia in the same month was priced at minus $6.30 a barrel to Oman/...

  • MOGADISHU, Somalia— Security video footage taken at Mogadishu airport shows two men handing what looks like a laptop computer to the suspected suicide bomber after he passed through the security checkpoint, Somalia's government spokesman said Sunday. The man who received the laptop is the suspected suicide bomber who was blown from the Daallo Airlines jet...

  • *In Iraq, Islamic State uses satellite, microwave for Internet. DUBAI, Feb 4- Iraq is trying to persuade satellite firms to halt Internet services in areas under Islamic State's rule, seeking to deal a major blow to the group's potent propaganda machine which relies heavily on social media to inspire its followers to wage jihad. For Iraq then, the key is to stop the...

  • Oil has fallen from $107 to around $30 in the past 19 months. Furious production by the U.S. and OPEC led to an oversupply. In a recent research note, Goldman Sachs predicted "the path to a rebalanced market will be protracted and arduous."


  • *Venezuela has called for meeting of OPEC, non- OPEC members. BAGHDAD, Jan 30- Iraq's oil minister said on Saturday his country was ready to accept a decision by OPEC and non- OPEC members to cut crude production and was preparing to revive its national oil company, moves aimed at boosting profits amid dropping prices. "Iraq will agree and cooperate if producers really...

  • BAGHDAD, Jan 30- Iraq's oil minister said on Saturday his country was ready to accept a decision by OPEC and non- OPEC members to cut crude production. "Iraq will agree and cooperate if producers really want to cooperate to cut," Adel Abdul Mahdi told reporters in Baghdad. He said that Iraq's southern oil exports through Jan. 24 averaged 3.324 million barrels per day,...

  • *Economists expect Iran to borrow internationally this year. LONDON, Jan 28- Low oil prices and the economic and geopolitical scars of years of international sanctions all point to a high risk' junk' credit rating for Iran when it starts feeling its way back into borrowing markets. "We had Iran at B2 but a lot has changed since then, including our methodology, said...

  • *Russia refused cooperation with OPEC in past. MOSCOW, Jan 27- Russian officials have decided they should talk to Saudi Arabia and other OPEC countries about output cuts to bolster oil prices, the head of Russia's pipeline monopoly said on Wednesday, remarks that helped spur a sharp rise in world prices. Oil futures surged more than 5 percent after the comments by...

  • Iraq adds to oil oversupply concerns: Citi Futures Monday, 25 Jan 2016 | 6:31 PM ET
    Iraq adds to oil oversupply concerns: Citi Futures

    Iraq could add as much as 400,000 barrels of oil per day, says Tim Evans, energy futures specialist at Citi Futures.

  • Want to defeat ISIS? Follow this trail: ex-CIA Monday, 25 Jan 2016 | 12:58 PM ET
    ISIS ISIL Iraq

    This Islamic State money-making trade is a key to understanding—and defeating—the terrorist group, says former CIA analyst Yaya J. Fanusie.

  • Will the election make oil credit crisis worse? Friday, 22 Jan 2016 | 7:00 AM ET
    Donald Trump and Hillary Clinton

    The election is likely to exacerbate the credit crunch hitting the oil industry, says oil consultant Mark Harrington.

  • WASHINGTON, Jan 21- U.S. intelligence agencies investigating the kidnapping of three Americans in Baghdad, Iraq last week are focusing their probe on three militant Islamic groups closely affiliated with Iran, U.S. government sources said on Thursday. While the three groups have close ties to Iran, sources said the United States does not believe Iran was...


  • BAGHDAD, Jan 21- Iraq is in talks with foreign oil companies to link the fees they receive for developing its fields to oil prices and have them share the burden when markets go down, Iraqi Oil Minister Adel Abdul Mahdi told Reuters on Thursday. Iraq also pays the cost of infrastructure investment by the companies. The talks also aim to compress costs that the...

  • No evidence Turkey wants to fight ISIS: Iraq PM Thursday, 21 Jan 2016 | 8:15 AM ET
    Haider Al-Abadi on set in Davos, Switzerland with Hadley Gamble.

    As the Middle East grapples to contain the Islamic State, the Iraqi prime minister has cast doubt on Turkey's willingness to combat the terrorist group.

  • Syria is ‘breeding ground for terrorism’: Iraq PM Thursday, 21 Jan 2016 | 5:30 AM ET
    Syria is ‘breeding ground for terrorism’: Iraq PM

    Iraq has a fundamental interest in seeing peace in Syria, says its prime minister, Haider Al-Abadi, adding that Daesh is a “very formidable and dangerous organization.”

  • We are achieving victory over ISIS: Iraq PM Thursday, 21 Jan 2016 | 5:30 AM ET
    We are achieving victory over ISIS: Iraq PM

    Iraq’s prime minister, Haider Al-Abadi explains why he’s confident in fighting ISIS and why he believes Daesh is “running out of steam,” as Iraq send more troops.

  • Iraq, OPEC's second-largest producer, expects output from the country's southern region to increase by up to 400,000 barrels per day this year, to over 4 million bpd, he said, speaking in Baghdad. Lifting oil prices now would require the Organization of the Petroleum Exporting Countries and non- OPEC nations to agree on curbing output, he said.