Business Iraq

  • BAGHDAD, Aug 23- Iraq on Tuesday asked foreign oil companies to increase oil output and exports, as Baghdad joined those spotlighting production potential ahead of a major energy gathering late next month. Oil Minister Jabar Ali al-Luaibi, who took up his post this month, met in Baghdad with oil companies operating in Iraq. Iraq is OPEC's second-largest producer...

  • Peshmerga soldiers standing guard as smoke and flames billow from oil silos following an attack by militants on a gas facility in Iraq's northern Kirkuk province on July 31, 2016. Gunmen travelling on motorbikes opened fire on the gas facility's guards, then killed four of its employees and planted multiple bombs before escaping, officials from Iraq's North Oil Company and the Kurdish peshmerga forces said.

    The investment bank reckons that the recovery remains tenuous due to signs that disruptions in Nigeria, Iraq and Libya are easing.

  • *Iraq crude exports to grow by 150,000 bpd this week. On the crude oil front, U.S. drillers added 10 oil rigs in the week to Aug. 19, the eighth straight week of rig additions, as crude rebounded toward the $50- a-barrel mark that makes drilling viable. Elsewhere, Iraq plans this week to increase exports of Kirkuk crude by 150,000 bpd from its northern fields while...

  • In the United States, BP Plc's 413,500 barrel per day refinery in Whiting, Indiana, returned to normal production for the first time since late July, adding to refined products supply. On the crude oil front, U.S. drillers added 10 oil rigs in the week to Aug. 19, the eighth straight week of rig additions, as crude rebounded toward the $50- a-barrel mark that makes...

  • NEW YORK, Aug 22- Oil prices fell more than 2 percent on Monday, retreating from last week's two-month highs, on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising U.S. oil rig count. U.S. drillers added 10 oil rigs in the week to Aug. 19, the eight straight week of rig additions, as crude rebounded towards the $50 a barrel...

  • *Refined product glut ongoing as China exports soar. *Iraq plans to boost exports by 150,000 bpd this week. LONDON, Aug 22- Oil prices fell nearly 3 percent on Monday as China ramped up exports of refined products, U.S. oil producers added rigs for an eighth consecutive week and prospects emerged for increased exports from Iraq and Nigeria.

  • *Refined product glut ongoing as China exports soar. *Iraq plans to boost exports by 150,000 bpd this week. LONDON, Aug 22- Oil prices fell nearly 3 percent on Monday as China ramped up exports of refined products, U.S. oil producers added rigs for an eighth consecutive week, and prospects emerged for increased exports from Iraq and Nigeria.

  • A worker checks the valve of an oil pipe at Al-Sheiba oil refinery in the southern Iraq city of Basra, April 17, 2016.

    Oil prices surged dramatically in the last two weeks thanks to OPEC freeze talk, but there's little expectation the cartel will act.

  • Oil worker working on an oil rig

    Bubbling oil prices, up 23 percent in 15 days, will be a focus Friday as traders watch the latest U.S. rig count data.

  • OPEC crude oil production hit an eight-year peak in July, but may fall this month amid turmoil in major member countries, UBS said on Tuesday.

  • In an image made from video originally posted April 25, 2006 on the Internet showing Abu Musab al-Zarqawi.

    Contrary to the apparent conclusion of Donald Trump, the terror quasi-state known as ISIS was not founded by Barack Obama.

  • Pentagon says number of Islamic State combatants are shrinking

    Lieutenant General Sean MacFarland claims the militant group is on the retreat 'on all fronts' as the number of their fighters drop.

  • Donald Trump speaks to a crowd of supporters during a campaign rally on June 18 in Phoenix, Arizona.

    Donald Trump has appealed to Capitol Hill for support as his attacks on a Gold Star family drew rebukes from fellow party members.

  • *At least half a million people to flee during Mosul battle. BAGHDAD, July 30- Many Islamic State leaders have fled Mosul with their families towards Syria ahead of a planned offensive by U.S.-backed Iraqi forces on the city, Iraq's defence minister said on Saturday. "Many Daesh families and leaders in Mosul have sold their property and sneaked out towards Syria,...

  • *Officials say smuggling in Iraq down 90 pct since 2014 peak. BAGHDAD, July 28- Islamic State, pushed off more than half the Iraqi territory it seized in 2014, has suffered a near collapse in revenue from oil smuggling, officials say, forcing it to cut fighters' pay, levy new taxes and raise fines for breaking its religious code. At one point it made millions of dollars a...

  • A hearse leaves the area after an explosion in Ansbach near Nuremberg, Germany, July 25, 2016.

    The Syrian who blew himself up in southern Germany, wounding 15 people, had pledged allegiance to Islamic State on a video found on his mobile phone.

  • *Iraq in 2015 provided OPEC's biggest rise in supply. LONDON, July 21- Iraq's oil exports are set to rise in July, according to loading data and an industry source, putting supply growth from OPEC's second-largest producer back on track after after two months of declines. Iraq in 2015 provided OPEC's biggest rise in supply.

  • Supporters of Turkish President Recep Tayyip Erdogan wave flags as they capture an Turkish Army APC after soldiers involved in the coup surrendered on Bosphorus bridge on July 16, 2016 in Istanbul, Turkey.

    Turkey is the only majority Muslim member of the NATO alliance. Here's a closer look at the country.

  • NEW YORK, July 15- Oil prices extended gains in late trading on Friday after Turkey's armed forces said they had taken power in the country, igniting concerns about potential disruptions to shipments along one of the world's busiest shipping routes. If successful, the overthrow of President Tayyip Erdogan, who has ruled Turkey since 2003, would amount to one of...

  • NEW YORK, July 15- Oil prices extended gains in post-settlement trading on Friday after Turkey's armed forces said they had taken power in the country to protect the democratic order and to maintain human rights. Supply outages across the world have led to crude prices rallying from 12- year lows touched earlier in the year. For the oil market, a military coup...