Business Iraq

  • 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.

  • *Iraq not open to capping output, Abadi says. BAGHDAD, Aug 23- Iraq's prime minister said the country has not yet reached its full oil market share, suggesting his government would not restrain crude output as part of any possible OPEC agreement to lift prices. "And the capping, we are not open to that because Iraq is still below what it should produce," Haider al-Abadi...

  • NEW YORK, Aug 23- Oil prices rose on Tuesday, reversing early losses, after Reuters reported Iran was sending positive signals that it may support joint OPEC action to prop up the market. Iran, the third-largest oil producer in the Organization of the Petroleum Exporting Countries, has been boosting output since the lifting of Western sanctions in January and...

  • 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,...