Business News Iraq

  • NEW DELHI, Feb 15- India's oil imports declined by 10.4 percent in January from a year earlier to about 4.6 million barrels per day as Reliance Industries Ltd, operator of the world's biggest refining complex, curbed purchases due to maintenance of units, according to data from shipping and industry sources. The share of Middle Eastern oil in India's imports...

  • *EU lawmaker says list misses Russia, Azerbaijan, London. STRASBOURG, Feb 13- The European Commission added Saudi Arabia, Panama and four U.S. territories to a blacklist of nations it considers a threat because of lax controls on terrorism financing and money laundering, the EU executive said on Wednesday. The move is part of a crackdown on money laundering after...

  • A man counts Saudi riyal banknotes at his jewelry shop in Tiba market in the capital Riyadh on October 3, 2016.

    Apart from reputational damage, inclusion on the list complicates financial relations with the European Union.

  • *EU lawmaker says list misses Russia, Azerbaijan, London. STRASBOURG, Feb 13- The European Commission added Saudi Arabia, Panama, Nigeria and other jurisdictions to a blacklist of nations seen as posing a threat because of lax controls on terrorism financing and money laundering, the EU executive said on Wednesday. The move is part of a crackdown on money...

  • LAUNCESTON, Australia, Feb 13- Asia's oil refiners are increasingly finding themselves trapped between the rock of OPEC's production cuts and the hard place of U.S. President Donald Trump's sanctions against Iran and Venezuela. Add to this the sanctions imposed by the United States on Venezuela, which produces heavy sour crude, and on Iran, another producer of...

  • LAUNCESTON, Australia, Feb 13- Asia's oil refiners are increasingly finding themselves trapped between the rock of OPEC's production cuts and the hard place of U.S. President Donald Trump's sanctions against Iran and Venezuela. Add to this the sanctions imposed by the United States on Venezuela, which produces heavy sour crude, and on Iran, another producer of...

  • HOUSTON/ MEXICO CITY/ MOSCOW, Feb 12- Venezuela's oil exports have tapered off and shifted toward India since new U.S. sanctions began Jan. 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions. The South American nation is turning its focus to cash-paying buyers, especially in...

  • HOUSTON/ MEXICO CITY/ MOSCOW, Feb 12- Venezuela's oil exports have tapered off and shifted toward India since new U.S. sanctions began Jan. 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions. The South American nation is turning its focus to cash-paying buyers, especially in...

  • HOUSTON/ MEXICO CITY/ MOSCOW, Feb 12- Venezuela's oil exports have tapered off and shifted toward Asia since new U.S. sanctions began Jan. 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions. The South American nation is turning its focus to cash-paying buyers in Asia and to...

  • An employee of the Kuwait Oil Company

    Saudi Arabia throttled back production during OPEC's first month of output cuts aimed at draining oversupply from the oil market.

  • *Continues to look for acquisitions in Norway. OSLO, Feb 7- Oil firm DNO is looking to buy more assets after its recent takeover of London- listed Faroe Petroleum to further expand its North Sea presence. Oslo- listed DNO, which produces most of its oil in the Kurdistan region of Iraq, clinched a hostile takeover bid for London- based Faroe Petroleum, valuing Faroe at 634...

  • *Continues to look for acquisitions in Norway. The Oslo- listed firm, which produces most of its oil in the Kurdistan region of Iraq, in January won a hostile takeover bid for London- based Faroe Petroleum, expanding its foothold in the North Sea. "This represents not a pivot away from Kurdistan but a pivot to Norway."

  • BERLIN, Feb 5- Holiday airline Germania collapsed on Tuesday and cancelled all flights immediately, the latest to succumb to turbulence in the European airline industry as it failed to secure financing to navigate a short-term cash squeeze. The insolvency of the German company, which carried about 4 million passengers a year, followed the failure of Germany's...

  • The insolvency of the German company, which carried about 4 million passengers a year, follows the failure of Germany's second-biggest carrier, Air Berlin, in 2017 and underscores the turbulence in the European airline industry. Britain's Monarch Airlines and Alitalia also filed for insolvency in 2017, with German charter carrier Small Planet Airlines...

  • Iraqi President Barham Salih

    Iraq is not part of the U.S. battle with Iran, Iraqi President Bahram Salih said Sunday, adding that he did not give Trump permission to use his country as a base to "watch Iran."

  • President Donald Trump said military intervention in Venezuela was "an option" as Western nations boost pressure on socialist leader Nicolas Maduro to step down, while the troubled OPEC nation's ally Russia warned against "destructive meddling." Maduro, who has overseen an economic collapse and the exodus of millions of Venezuelans, maintains the backing of...

  • President Donald Trump said military intervention in Venezuela was "an option" as Western nations boost pressure on socialist leader Nicolas Maduro to step down, while the troubled OPEC nation's ally Russia warned against "destructive meddling." Maduro, who has overseen an economic collapse and the exodus of millions of Venezuelans, maintains the backing of...

  • President Donald Trump said military intervention in Venezuela was "an option" as Western nations boost pressure on socialist leader Nicolas Maduro to step down, while the troubled OPEC nation's ally Russia warned against "destructive meddling." The United States, Canada and several Latin American countries have disavowed Maduro over his disputed...

  • President Donald Trump said that sending the military to Venezuela was "an option" as Western nations boost pressure on socialist leader Nicolas Maduro to hand over power to opposition leader and self-proclaimed President Juan Guaido. The United States, Canada and several Latin American countries have disavowed Maduro over his disputed re-election last...

  • *U.S. sanctions against Venezuela hit crude exports. NEW YORK, Feb 1- Oil prices rose about 3 percent on Friday on upbeat U.S. jobs data and signs that U.S. sanctions on Venezuelan exports have helped tighten supply, then extending gains after weekly data showed U.S. drillers cut the number of oil rigs. Brent crude oil futures rose $1.91 a barrel, or 3.14 percent, to...