Letter from Iraqi finance minister to KRG prime minister offers a one-time, $338 million payment – and continuing negotiations for a new budget deal. Newly appointed Finance Minister Ali Allawi Continue Reading
In an era of depressed oil prices and budget disputes, the KRG has lost most of the revenue that underwrites its economy, and has no clear plan for bridging its Continue Reading
Dozens of foreign staff of the Basra Gas Company (BGC) were sent from Basra to Rotterdam and London Wednesday afternoon, as payment disputes led to protests inside company facilities in Continue Reading
Iraq’s oil ministry said Monday there are no plans to shutter the al-Ahdab oil field in the southeastern province of Wasit due to protests in OPEC’s second largest oil producer, Continue Reading
The Kurdistan semi-autonomous region of Iraq is ready to hand over to the federal government 250,000 barrels per day (bpd) of oil production and the oil revenues it generates, Middle Continue Reading
The Islamic State group capitalized on deteriorating U.S.-Iraqi relations as a pandemic further distracted the unfinished fight against it. An official ceremony at Balad base for Iraq to receive four Continue Reading
Iraq, OPEC’s second-largest oil producer, has begun negotiations with international oil companies on postponing payments to them and cutting costs as OPEC’s second largest oil producer grapples with the crude Continue Reading
Iraq, OPEC’s second largest oil producer, has cut 650,000 b/d from it southern fields to comply with OPEC+ cuts of 1.061 million b/d agreed for May and June, an official Continue Reading
Iraq is committed to the OPEC+ oil production cuts agreement, the acting oil minister said Thursday, dismissing media reports that had questioned the ability of OPEC’s second largest member to Continue Reading
Highlights Parliament last week postponed voting on oil minister post PM Kadhimi wants to restore Iraq’s shrunken oil market share He also wants to amend IOC contracts Iraq’s new prime Continue Reading
