Business News Iraq

  • President Donald Trump has asked for files to be prepared on pardoning several U.S. military members accused of or convicted of war crimes, including one slated to stand trial on charges of shooting unarmed civilians while in Iraq, the New York Times reported on Saturday. One request is for Special Operations Chief Edward Gallagher of the Navy SEALs, scheduled...

  • President Donald Trump has asked for files to be prepared on pardoning several U.S. military members accused of or convicted of war crimes, including one slated to stand trial on charges of shooting unarmed civilians while in Iraq, the New York Times reported on Saturday. One request is for Special Operations Chief Edward Gallagher of the Navy SEALs, scheduled...

  • DUBAI, May 18- Iran's top diplomat on Saturday dismissed the possibility of war erupting in the region, saying Tehran did not want a conflict and that no country had the "illusion it can confront Iran", the state news agency IRNA reported. Tensions between Washington and Tehran have increased in recent days, raising concerns about a potential U.S.- Iran conflict.

  • *Washington- Tehran tensions spill over into Iraq. BASRA, Iraq/ DUBAI, May 18- Exxon Mobil has evacuated all of its foreign staff, around 60 people, from Iraq's West Qurna 1 oilfield and is flying them out to Dubai, a senior Iraqi official and three other sources told Reuters on Saturday. Production at the oilfield was not affected by the evacuation and work is...

  • Iraqi workers walk in West Qurna oilfield in Iraq's southern province of Basra November 28, 2010.

    Production at the oilfield was not affected by the evacuation and work is continuing normally, overseen by Iraqi engineers, state-owned South Oil Company chief Ihsan Abdul Jabbar said, adding that production remains at 440,000 barrels per day.

  • DUBAI, May 18- Iran's top diplomat on Saturday dismissed the possibility of war erupting in the region, saying Tehran did not want a conflict and that no country had the "illusion it can confront Iran", the state news agency IRNA reported. Tensions between Washington and Tehran have increased in recent days, raising concerns about a potential U.S.- Iran conflict.

  • DUBAI/ BASRA, Iraq, May 18- Exxon Mobil has evacuated all of its foreign staff from Iraq's West Qurna 1 oilfield and is flying them out to Dubai, three sources told Reuters on Saturday. Days of saber rattling between Washington and Tehran have heightened tensions in the region amid concerns about a potential U.S.- Iran conflict. The United States on Wednesday...

  • *Lebanon to muddle through May debt maturity. LONDON, May 17- Lebanon's impasse in agreeing a credible fiscal reform plan and deteriorating global market conditions means it may struggle to refinance key foreign currency debts coming due this year, unnerving overseas investors. Prime Minister Saad al-Hariri has said this may be the most austere budget in...

  • *US alleges threats from Iran to its troops and interests. *Iran says this is a psychological warfare. DUBAI, May 17- Iran said on Friday it could "easily" hit U.S. warships in the Gulf, the latest in days of sabre-rattling between Washington and Tehran, while its top diplomat worked to counter U.S. sanctions and salvage a nuclear deal denounced by President Donald Trump.

  • A worker is seen at the new CPF3 oil station in the Halfaya oilfield in southern of Maysan province, Halfaya, Iraq December 12, 2018. 

    Oil prices are on track for a weekly gain, supported by supply disruptions and rising tensions in the Middle East.

  • TOKYO, May 17- Oil prices rose again on Friday and were on track for the first weekly gains this month, as rising tensions in the Middle East stoked fears of supply disruptions. President Donald Trump ordered the deployment of an aircraft carrier group, B-52 bombers and Patriot missiles to the Middle East. "When tensions are this high, with the U.S. deploying a sizable...

  • *Saudi-led coalition in Yemen strikes Sanaa, casualties reported. NEW YORK, May 16- Oil futures were up more than 1% on Thursday as tensions in the Middle East grew, with a Saudi-led coalition launching air strikes in retaliation for recent attacks on its crude infrastructure. The Saudi-led military coalition in Yemen carried out several air strikes on the...

  • ISTANBUL, May 16- Chinese firms are eyeing partnerships with Turkish construction firms in Africa and are also looking to take stakes in Turkish companies, the head of the Turkish Contractors Association said. Turkish contractors are second only to Chinese companies in terms of international contracts, according to the Engineering News Record which...

  • US President Donald Trump (L) greets Switzerland's President Ueli Maurer before a meeting at the White House on May 16, 2019, in Washington, DC.

    Members of Congress blasted the Trump administration for being left in the dark about details of the situation with Iran — and House Speaker Nancy Pelosi said Trump lacks authority to declare war on Iran.

  • LONDON, May 16- Oil traders anticipate a big draw down in crude stocks in the second half of this year as sanctions on Iran and Venezuela coupled with other supply disruptions and a sluggish response from OPEC cause a severe shortage. Brent's six-month calendar spread has moved into a backwardation of almost $3.80 per barrel up from $2.20 a month ago and a...

  • BAGHDAD, May 16- Iraq has contingency plans for any stoppage of Iranian gas imports for its power grid but hopes no such disruption will take place, Oil Minister Thamer Ghadhban said on Thursday. "Turkey has asked to increase its crude oil imports from Iraq and we have pledged to consider the Turkish request positively," Ghadhban said. Iraq relies heavily on gas from...

  • *Uncertainty over OPEC supply helping to cap gains. LONDON, May 16- Oil prices rose on Thursday for a third day running as fears of supply disruption amid heightened tensions in the Middle East overshadowed swelling U.S. crude inventories. Oil was drawing support from the risk of conflict in the Middle East, with helicopters carrying U.S. staff from the U.S. embassy...

  • BAGHDAD, May 16- Iraq has contingency plans for any stoppage of Iranian gas imports for its power grid but hopes no such disruption will take place, Oil Minister Thamer Ghadhban said on Thursday. Turkey has asked Iraq to purchase more of its crude, Ghadhban added, speaking to journalists in Baghdad a day after Iraqi Prime Minister Adel Abdul Mahdi travelled to...

  • LONDON, May 16- Britain has raised the threat level for military forces and diplomats in Iraq because of a heightened security risk from Iran, Sky News said on Thursday. A spokeswoman for Britain's Foreign Office declined to immediately comment on the report. Britain also put its personnel and their families in Saudi Arabia, Kuwait and Qatar on an increased state...

  • *Uncertainty over OPEC supply helping to cap gains. LONDON, May 16- Oil prices rose on Thursday for a third day running as fears of supply disruption amid heightened tensions in the Middle East overshadowed swelling U.S. crude inventories. Oil was drawing support from the risk of conflict in the Middle East, with helicopters carrying U.S. staff from the U.S. embassy...