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  • *Ministers gather from 7 nations, including U.S. and France. PARIS, Jan 20- Defence chiefs from the United States, France, Britain and four other countries pledged on Wednesday to intensify their fight against Islamic State, looking to capitalise on recent battlefield gains against the militants. Defense Secretary Ash Carter told a news conference after talks in...

  • *U.S. sources say no reason to believe Iran involved. WASHINGTON/ BAGHDAD, Jan 19- Three U.S. citizens who disappeared last week in Baghdad were kidnapped and are being held by an Iranian-backed Shi'ite militia, two Iraqi intelligence and two U.S. government sources said on Tuesday. The U.S. sources said Washington had no reason to believe Tehran was involved in the...

  • BAGHDAD/ WASHINGTON, Jan 19- Three U.S. citizens who disappeared last week in Baghdad were kidnapped and are being held by an Iranian-backed Shi'ite militia, two Iraqi intelligence and two U.S. government sources said on Tuesday. The U.S. sources said Washington had no reason to believe Tehran was involved in the kidnapping and does not believe the trio are being...

  • BAGHDAD/ WASHINGTON, Jan 19- Three U.S. citizens who disappeared last week in Baghdad were kidnapped and are being held by an Iranian-backed Shi'ite militia, two Iraqi intelligence and two U.S. government sources said on Tuesday. The U.S. sources said Washington had no reason to believe Tehran was involved in the kidnapping and does not believe the trio are being...

  • BAGHDAD, Jan 19- Iraq wants foreign oil companies to cut spending as the nation seeks to narrow a budget gap caused by lower crude prices, oil minister Adel Abdul Mahdi said in a statement on Tuesday. "The ministry is discussing reducing financial spending by foreign companies," he told a meeting of the oil fields' joint management committees in Baghdad.

  • ERBIL, Iraq, Jan 16- The autonomous Kurdistan Regional Government in northern Iraq may sell parts of its electricity sector to raise funds to help plug a budget gap left by sinking oil prices, the region's Deputy Prime Minister Qubad Talabani told Reuters. The KRG is also "considering monetising assets including oil infrastructure", Talabani said in an interview...

  • Oil credit crunch may be worse than housing crisis Thursday, 14 Jan 2016 | 10:50 AM ET
    Pump jacks and storage tanks

    Here's why the credit crunch hitting the oil industry could be worse than the 2008 housing crisis, says longtime oil man Mark Harrington.

  • WASHINGTON, Jan 7- The U.S. State Department has approved the sale of 5,000 Hellfire missiles to Iraq worth $800 million, the Pentagon said on Thursday. The Defense Security Cooperation Agency, which oversees foreign arms sales, told lawmakers the government of Iraq had asked to buy 5,000 of the air-to-ground missiles and 10 training missiles.

  • Kilduff: Time for an oil-industry bailout? Wednesday, 6 Jan 2016 | 10:53 AM ET
    John Kilduff

    US oil and gas producers are getting squeezed. Maybe it's time for the government to pump some money into the industry, says John Kilduff

  • OPEC December oil output slips, still near record Tuesday, 5 Jan 2016 | 9:30 AM ET

    *OPEC output up almost 1.40 mbpd since 2014 policy shift. LONDON, Jan 5- OPEC oil output fell in December, a Reuters survey found on Tuesday, led by lower supply from Iraq following a record-breaking month in November and smaller declines elsewhere in the producer group. OPEC supply fell in December to 31.62 million barrels per day from a revised 31.79 million in...

  • Why China’s growth could be over Tuesday, 5 Jan 2016 | 8:58 AM ET
    An investor reacts at a stock exchange hall on January 4, 2016 in Hangzhou, Zhejiang Province of China.

    China's stock market drop send jitters around the globe. Here's why investors should be very worried about the country's future, says Steven Kopits.

  • ISIS video shows killing of five 'UK spies' Sunday, 3 Jan 2016 | 9:24 PM ET
    Militant Islamist fighters parade on military vehicles along the streets of northern Raqqa province, June 30, 2014.

    ISIS militants have released a video purporting to show the killing of five men they claim were spying for Britain, the Financial Times reports.

  • All eyes on Mosul after victory for Iraqi gov't Monday, 28 Dec 2015 | 1:24 PM ET
    All eyes on Mosul after victory for Iraqi gov't

    Iraqi forces declared victory after it reclaimed the city of Ramadi from ISIS. The American Enterprise Institute's Mike Rubin, discusses the motivations of ISIS, and the significance of this key victory.

  • *SOMO to supply about 160,000 bpd Basra Heavy to India in 2016. *Reliance signs 1st term contract with SOMO for about 100,000 bpd. SINGAPORE, Dec 23- Iraq has signed deals worth $1.4 billion to ship about 160,000 barrels per day of crude to two Indian refiners in 2016, sources said, upping the ante in a race among exporters to cement their market share in Asia- the...

  • BAGHDAD, Dec 21- Iraq's armed forces will start an operation to retake the western city of Ramadi from Islamic State militants very soon, army chief of staff Lt. An Iraqi Defence Ministry spokesman said earlier that Islamic State militants were preventing civilians from leaving Ramadi before the planned attack on the city, which fell under control of the...

  • IRAQI ARMY TO START ATTACK ON IS-HELD RAMADI CITY IN THE COMING HOURS- STATE TV.

  • 'Ghost armies' take advantage of ISIS Monday, 21 Dec 2015 | 6:00 AM ET
    'Ghost armies' take advantage of ISIS

    The terrorist group is also vulnerable to the region's deep-seated corruption.

  • BAGHDAD, Dec 21- Islamic State militants are preventing civilians from leaving Ramadi ahead of an attack planned by the Iraqi army to retake the western city that the militants captured in May, an Iraqi Defence Ministry spokesman said on Monday. Iraqi military planes on Sunday dropped leaflets on Ramadi, asking residents to leave within 72 hours and indicating...

  • How oil could go even lower Friday, 18 Dec 2015 | 7:00 AM ET
    An oil pumpjack operates near Williston, North Dakota.

    If history is any guide, the price of oil can still go down before it recovers, says Robert McNally.

  • ISIS finance minister killed by US Military Friday, 11 Dec 2015 | 7:00 AM ET
    ISIS finance minister killed by US Military

    The US reveals that it killed the terrorist group's finance minister and two other senior officials in airstrikes.