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By John Lee.
The US has granted Iraq another 120-day waiver from its sanctions on Iran.
According to S&P Global, a State Department spokesman said the waiver ensures that Iraq is able to meet its short-term energy needs while it takes steps to reduce its dependence on Iranian energy imports.
(Source: S&P Global)
By John Lee.
The US has granted Iraq another 120-day waiver from its sanctions on Iran.
According to S&P Global, a State Department spokesman said the waiver ensures that Iraq is able to meet its short-term energy needs while it takes steps to reduce its dependence on Iranian energy imports.
(Source: S&P Global)
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
When Iraqi Prime Minister Adel Abdul Mahdi led a delegation to China in September, Baghdad and Beijing activated an “oil for reconstruction” and investment program. Under the arrangement, Chinese firms work in Iraq in exchange for 100,000 barrels per day.
Iraq has said it needs more than $88 billion to develop and mend its rickety infrastructure after three years of combating the Islamic State (IS).
Speaking to the press, Abdul Mahdi said that, including this new deal, about 20% of Iraq’s daily oil production is being exported to China.
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
When Iraqi Prime Minister Adel Abdul Mahdi led a delegation to China in September, Baghdad and Beijing activated an “oil for reconstruction” and investment program. Under the arrangement, Chinese firms work in Iraq in exchange for 100,000 barrels per day.
Iraq has said it needs more than $88 billion to develop and mend its rickety infrastructure after three years of combating the Islamic State (IS).
Speaking to the press, Abdul Mahdi said that, including this new deal, about 20% of Iraq’s daily oil production is being exported to China.
By Dana Taib Menmy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
Iraqi President Barham Salih met separately Sept. 18 with four Kurdistan Regional Government (KRG) leaders — President Nechirvan Barzani, Prime Minister Masrour Barzani, parliament Speaker Rewaz Fayaq and Deputy Prime Minister Qubad Talabani in Erbil, the KRG capital.
The purpose of Salih’s visit was to warn the KRG about the region’s share in Iraq’s federal budget for 2020, scheduled to be passed by the national parliament by the end of the year.
A well-informed source close to the ruing elites in both Baghdad and Erbil told Al-Monitor on condition of anonymity that the Iraqi president — who is Kurdish — cautioned the Kurdish leadership that the federal government in Baghdad will cut the Kurdistan region’s share of budget, including salaries of the KRG employees, if Erbil fails to hand over a portion of its oil to the State Organization for Marketing of Oil. The organization is responsible for selling Iraq’s oil.
By John Lee.
At a cabinet meeting on Tuesday, Iraqi Prime Minister Adel Abdul Mahdi has reportedly rejected the resignation of the health minister Ala Al Alwan (pictured).
Citing problems with blackmail and corruption, it was the minister’s second attempt to resign, having been persuaded to remain after a previous attempt in March.
(Source: The National)
By John Lee.
At a cabinet meeting on Tuesday, Iraqi Prime Minister Adel Abdul Mahdi has reportedly rejected the resignation of the health minister Ala Al Alwan (pictured).
Citing problems with blackmail and corruption, it was the minister’s second attempt to resign, having been persuaded to remain after a previous attempt in March.
(Source: The National)
By Huda Baroud for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
Palestinian Prime Minister Mohammad Shtayyeh visited Iraq July 15 to discuss importing Iraqi fuel. This falls within the Palestinian Authority (PA)’s quest for gradual economic disengagement from Israel.
Shtayyeh was accompanied to Baghdad by a delegation composed of Minister of Finance Shukri Bishara, Minister of Foreign and Expatriate Affairs Riyad al-Malki, Minister of National Economy Khaled Assali, Minister of Agriculture Riyad Attari and Palestinian intelligence service head Majid Faraj. The delegation met with Iraqi Prime Minister Adel Abdul Mahdi, President Barham Salih and parliament Speaker Salim al-Jabouri.
Iraq’s oil ministry said on Sunday it has no connection with an oil tanker seized by Iran’s IRGC in the Persian Gulf for smuggling fuel, a report said.
“The ministry does not export diesel to the international market,” the Arab country’s oil ministry said in a statement, Iraqi News Agency reported.
Iraq’s relevant authorities are working to gather information about the seized vessel, it added.
Two Iraqi port officials said initial information obtained show that the seized ship is owned by a private shipping company which is owned by an Iraqi private trader.
In a statement on Sunday, the IRGC Navy’s Public Relations Department said that the foreign ship had been captured by the military vessels patrolling the second naval zone in the Persian Gulf as part of the operations to detect and fight against organized smuggling.
The IRGC Navy’s patrol vessels confiscated the foreign tanker that was carrying 700,000 liters of smuggled fuel in a surprise operation after coordination with judicial authorities, it added.
According to the statement, the foreign ship was seized near Farsi Island, a tiny, barren island in the Persian Gulf.
(Source: Tasnim, under Creative Commons licence)
By John Lee.
The Kurdistan Regional Government’s long-serving Minister of Natural Resources (MNR), Ashti Hawrami (pictured), is to be appointed to the post of Assistant Prime Minister for Energy Affairs in the new KRG cabinet.
According to a report from Rudaw, it is not currently clear whether the move will result in the scrapping of the Ministry of Natural Resources.
Hawrami was first appointed as Minister for Natural Resources in 2006.
(Source: Rudaw)