Business Iraq

  • *OPEC supply rises by 70,000 bpd to 33.60 million bpd. LONDON, Sept 30- OPEC's oil output is likely to reach its highest in recent history in September, a Reuters survey found on Friday, as Iraq boosted northern exports and Libya reopened some of its main oil terminals. Supply from OPEC has risen to 33.60 million barrels per day in September from a revised 33.53...

  • BAGHDAD, Sept 29- Iraq is likely to delay the planned sale of $2 billion in bonds on international markets until at least early 2017, a government adviser said on Thursday, hoping that rising oil revenues and victory over Islamic State will improve public finances. Baghdad had said it would issue the bonds, with half the value guaranteed by the U.S. government, in...

  • *Iraq told OPEC meeting to change new ceiling- source. *Iraq's Luaibi complains about OPEC output estimates. ALGIERS, Sept 29- For years, debates in the OPEC conference room were dominated by clashes between top producer Saudi Arabia and arch-rival Iran.

  • *Company struggling to recover after oil rout, Iraq conflict. LONDON, Sept 29- Tony Hayward, the former BP boss, is set to step down next year as chairman of Genel Energy, which he founded in 2011 and became the biggest oil and gas producer in Iraqi Kurdistan, three sources close to the company said. The 59- year-old, whose tenure at BP ended abruptly following the deadly...

  • *IMF says Iraq must revise "too expensive" 2017 draft budget. The political infighting comes as major OPEC producer Iraq struggles to fill a public deficit left by the collapse in global prices for its crude exports. To replace missing oil revenue, Iraq has turned to the International Monetary Fund for a loan package, which would also serve as the basis for other...

  • 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.