Business Iraq

  • Immigrant advocacy members pray at the U.S.-Mexico border fence on May 1, 2016, in Tijuana.

    Immigration boosts economies but can cause social tensions and security concerns, the IMF has said, at a time when immigration is contentious in the U.S. and Europe.

  • Thawing ice, icicles melting

    Goldman Sachs and others are looking beyond this week's meeting of oil producers, and focusing on the return of crude from Iraq, Libya and Nigeria.

  • BAGHDAD— Iraq's Oil Minister said his country supports any deal to prop up oil prices in the international market ahead of next week's meeting of oil producers in Algeria, adding that fluctuating prices have badly affected the producers. Members of the Organization of the Petroleum Exporting Countries and non- OPEC producers are scheduled to meet Sept. 28 in...

  • OPEC and non- OPEC producers are expected to revive a production freeze deal for the first time in eight years when they meet in Algiers on Sept. 26-28 after a similar initiative collapsed in Doha in April because Iran refused to restrict its supplies. Iraq, along with Saudi Arabia, Iran and Russia has increased output to historic highs over the past year to fight...

  • High probability OPEC get something done: Pro

    Anish Kapadia, managing director at Tudor, Pickering, Holt & Co., explains why he believes there is a good chance of an OPEC deal being done in Algiers.

  • BAGHDAD— Iraq's parliament dismissed the finance minister after a no-confidence vote on Wednesday, a move that risks further upsetting the country's already precarious economic situation. Hoshyar Zebari, a former foreign minister and prominent Kurdish politician, was ousted after weeks of political wrangling over corruption allegations and...

  • *Mosul battle could begin by late October, but may take months. QAYYARA AIRBASE, Iraq, Sept 8- The U.S.-led war on Islamic State has depleted the group's funds, leadership and foreign fighters, but the biggest battle yet is expected later this year in Iraq's northern city of Mosul, where Abu Bakr al-Baghdadi declared his "caliphate" two years ago.

  • Experts agree lower prices are putting the brakes on production growth, but they can't seem to agree on when a supply-demand rebalancing will happen.

  • *Baghdad, Erbil agree to split Kirkuk flows 50/ 50 for now. *Baghdad had threatened to send Kirkuk oil to Iran. The Kirkuk flows, usually amounting to 150,000 barrels per day and exported via the Turkish Mediterranean port of Ceyhan, had been suspended since March as Baghdad pushed Kurdistan to cut a new deal.

  • LONDON, Sept 1- Iraqi state oil firm Somo and Iraq's semi-autonomous region of Kurdistan have begun jointly exporting crude from the giant Kirkuk oil field again after cutting a new preliminary deal on revenue-sharing, trading sources said on Thursday. The Kirkuk flows, usually amounting to 150,000 barrels per day, have been suspended since March amid a...

  • BAGHDAD, Aug 30- Iraq would support a decision by OPEC to freeze oil output to prop up prices, Iraqi Prime Minister Haider al-Abadi told a news conference in Baghdad on Tuesday. "We are with freezing production at the OPEC meeting," he said, in the clearest indication yet about the position Iraq will support when the oil exporters' group meets next month.

  • BAGHDAD, Aug 30- Iraq would support a decision by OPEC to freeze oil output in order to prop up prices, Iraqi Prime Minister Haider al-Abadi told a news conference in Baghdad on Tuesday. "We are with freezing production at the OPEC meeting," he said. Members of the Organization of the Petroleum Exporting Countries are due to meet informally in Algeria next month on the...

  • Kurdistan has been exporting crude independently via Turkey since mid-2015 after saying Baghdad had failed to respect an oil revenue-sharing deal and transfer enough money to Erbil. It had refrained from doing so in recent months as it was preparing for new talks on revenue-sharing with Kurdistan and had resumed shipping crude from the northern Kirkuk...

  • Iraq's oil ministry said on Friday it would consider selling crude through Iran should talks with the autonomous Kurds about oil exported by pipeline through their region from the northern Kirkuk fields to Turkey fail. "The meeting dealt with issues related to oil production and distribution from the field of Kirkuk and the region" of Kurdistan, the statement...

  • Oil

    Oil prices fell on Monday, pressured by high output from Middle East OPEC members and as a stronger U.S. dollar weighed on commodities.

  • BAGHDAD, Aug 29- The Iraqi government and the Kurdish regional authorities in northern Iraq will discuss a dispute on oil revenue sharing during bilateral talks on Monday, a government spokesman said. The oil issue will be among the topics to be discussed in Baghdad by Prime Minister Haider al-Abadi and Nechirvan Barzani, the prime minister of the Kurdistan...

  • BAGHDAD, Aug 27- Iraq is willing to play an active role within OPEC to support oil prices but will not sacrifice its goal of expanding market share and will continue to ramp up output, its oil minister said on Saturday. Jabar Ali al-Luaibi, on a visit to the southern oil city of Basra, renewed calls for local and international oil companies in Iraq to increase...

  • BAGHDAD, Aug 27- Iraq is willing to play an active role within OPEC to support oil prices, its oil minister Jabar Ali al-Luaibi said on Saturday, without clarifying whether it was prepared to back a possible agreement to freeze output. Iraq wants to "strengthen OPEC's role in achieving a balance in the oil market," Luaibi added, according to the spokesman, without...

  • *Baghdad needs revenue to finance war against Islamic State. BAGHDAD, Aug 27- Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad told Reuters. Baghdad would not be able to reroute those volumes to Iran but could order...

  • An armed watchman stands on the prow of the USS Nitze, moored at the Mocangue Island's Brazilian Navy base in Brazil, on April 27, 2011.

    Iran's Islamic Revolutionary Guard Corps vessels "harassed" a U.S. warship on Tuesday near the Strait of Hormuz, a U.S. defense official said.