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Business Iraq


  • LONDON, Oct 20- Genel Energy, one of the main oil producers in Iraqi Kurdistan, has cut its full-year production and revenue forecasts after reducing investment because of weak prices and a debt it says is owed by the Kurdistan Regional Government. The London- listed company, which says is owed around $400 million, said on Tuesday it will not invest in increasing...

  • A big, new US oil terminal could change everything Friday, 16 Oct 2015 | 12:08 PM ET
    Tesoro Oil Refinery, Anacortes, Washington.

    Even with low U.S. crude prices, one energy company is betting big on an oil project that would transform energy infrastructure on the West Coast.

  • Iraqi Kurdistan pays Gulf Keystone, pleasing producers Thursday, 15 Oct 2015 | 7:23 AM ET

    LONDON, Oct 15- Gulf Keystone Petroleum said on Thursday it had been paid for oil exports by the government of Iraqi Kurdistan, a sign it is serious about making regular payments to producers after months of debt building up. "The establishment of a regular payment cycle is crucial for attracting a farm-in partner or strategic investor to pursue the next stage of...

  • Vladimir Putin and Donald Trump

    Donald Trump may arguably be Russian President Vladimir Putin's favorite presidential candidate. The Fiscal Times reports.

  • Putin's support for Assad is unhelpful: UK defense secretary

    Michael Fallon, U.K. defense secretary, says progress is being made in Iraq and ISIL is being pushed back.

  • The real reason Putin is in Syria Thursday, 1 Oct 2015 | 11:50 AM ET
    Russian President Vladimir Putin speaks during a meeting with members of the Presidential Council for Civil Society and Human Rights at the Kremlin in Moscow, Russia, October 1, 2015.

    Russia says it's in Syria to help fight ISIS but the real reason can be summed up in one word, says this former State Department advisor.

  • OPEC oil output rising, boosted by Iraq: Survey Wednesday, 30 Sep 2015 | 10:46 AM ET
    Iraqi Southern Oil Company engineers look towards the flares in the Zubair oil field in southern Iraq.

    OPEC oil output has risen in September from the month before, a Reuters survey found on Wednesday, as Iraq's northern exports recovered from disruption.

  • OPEC oil output rises in September, led by Iraq - survey Wednesday, 30 Sep 2015 | 10:24 AM ET

    *OPEC output up almost 1.5 million bpd since policy shift. LONDON, Sept 30- OPEC oil output has risen in September from the month before, a Reuters survey found on Wednesday, as Iraq's northern exports recovered from disruption that had halted supply growth from the group's second-largest producer. OPEC supply has increased in September to 31.68 million barrels...

  • Why is Iraq ignoring US concerns about Russia? Wednesday, 30 Sep 2015 | 7:53 AM ET
    Armed masked man in Syria

    Iraq is turning a blind eye to Russia's move into Syria despite US objections, says David Phillips.

  • BASRA, Iraq, Sept 28- Iraq's southern oil exports will rise modestly to around 3.25 million barrels per day in 2016, the head of state-owned South Oil Company has said, as the country struggles to boost production in the face of slumping crude prices. Shipments at the southern port of Basra, which include exports from supergiant fields supervised by SOC and other...

  • This suggests Syria is not as bad as it could be Sunday, 27 Sep 2015 | 4:00 PM ET
    Soldiers on patrol in Syria.

    One indicator suggests conditions in Syria, while indeed dire, aren't perhaps as bad as they could be, at least not yet.

  • Iraq warns foreign oil firms of cut in funds Monday, 14 Sep 2015 | 3:55 PM ET

    DUBAI, Sept 14- Iraq has told foreign companies developing the country's southern oilfields that they may need to slash development spending next year because it has less money to pay them due to a slump in crude prices. In a letter dated Sept. 6 sent to international oil companies and seen by Reuters, the oil ministry said "because of the drop in our oil sales...

  • SINGAPORE, Sept 14- Iraq aims to export a record volume of Basra crude from its southern terminals in October as it ramps up production, adding to a global oil supply glut. Iraq, the largest OPEC producer after Saudi Arabia, plans to export 3.68 million barrels per day of Basra crude, traders said on Monday, citing a preliminary loading programme.

  • Why China's not the only one selling FX reserves Sunday, 13 Sep 2015 | 9:00 AM ET
    Saudi Arabian riyals

    China's not the only central bank in town selling reserves to cope with a tumultuous global economy. The Saudis have been doing it for months.

  • WASHINGTON, Sept 10- Signs of hope are scarce in the Middle East, a region awash in violence, civilians fleeing crumbling states, and economies built largely on oil squeezed by a dive in global prices. But Amos Hochstein, the U.S. energy envoy, sees some long-term potential for natural gas development to help provide economic security from Iraq to the eastern...

  • NYMEX-U.S. crude nudges higher on weaker dollar Thursday, 3 Sep 2015 | 8:25 PM ET

    *U.S. crude for October delivery was up 3 cents at $46.78 barrel by 0012 GMT, after settling 50 cents higher in the previous session. *Iran's Supreme Leader, President Hassan Rouhani said he favours a parliamentary vote on its nuclear deal with world powers and called for sanctions against Tehran to be lifted completely rather than suspended, state television...

  • Europe's migrant and refugee crisis in photos Thursday, 3 Sep 2015 | 2:18 PM ET
    Hungarian policemen stand by the family of migrants as they wanted to run away at the railway station in the town of Bicske, Hungary, September 3, 2015. A camp for refugees and asylum seekers is located in Bicske.

    People displaced by wars in Syria, Iraq, and Afghanistan are fleeing to Europe, where leaders are divided over how to handle the influx.

  • How long can the Saudis hang on with cheap oil? Wednesday, 26 Aug 2015 | 1:52 PM ET
    Workers at an oil facility near Riyadh, Saudi Arabia.

    Saudi Arabia derives 80 percent of its revenue from oil and has a budgetary "break-even" point almost double the current per-barrel price of $40.

  • 7 stocks to play oil selloff: Lipow Monday, 24 Aug 2015 | 11:47 AM ET

    Oil prices may not recover until after Q1 2016 but it’s not all bad news for the sector, says oil analyst Andy Lipow. Here's how to play it.

  • Oil could drop into the $20s: Kilduff Thursday, 20 Aug 2015 | 1:08 PM ET
    Oil rig workers crude oil

    John Kilduff explains how oil, already in a bear market, could drop to the mid-$20s per barrel.