Wednesday 25 May 2016
 
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Iraq

Opec focusing on market share, not oil price support

The Organisation of the Petroleum Exporting Countries (Opec) is focusing on market share rather than on supporting oil prices, Iraq's Opec governor said on Tuesday in comments that will dampen expectations that Opec might agree steps to su

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Iraq aims to pump 6 million bpd in 2020

Iraq is sticking to an aspiration to increase its oil output by up to a third by 2020 despite warnings from some companies working in Opec's second-largest producer that projects could be delayed due to spending cuts. Iraq is

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Iraq launches Falluja operation against IS

Iraqi Prime Minister Haider Al-Abadi announced the launching of an offensive to retake the Islamic State stronghold of Falluja after the military told residents to get ready to leave before fighting started. "Zero hour for th

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IMF to extend Iraq $5.4bn loan

Iraq has reached a $5.4 billion standby agreement (SBA) with the International Monetary Fund that could unlock $15 billion more in international assistance over the next three years, Finance Minister Hoshiyar Zebari said. The loan

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Wyndham brings first branded hotels to Najaf

Wyndham Hotel Group has announced plans for two new properties in the Iraqi holy city of Najaf following a deal signed with Bukhamseen Group For Real Estate, Tourism, General Trading & Contracting Company. Located just 800-m f

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Lukoil in talks to raise Iraq investment, output

Russia's Lukoil is continuing talks with the Iraqi government over increasing investment and oil output at its West Qurna-2 project there, the company's first vice president Ravil Maganov told reporters on Tuesday. "T

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Global oil firms resist Iraq spending cuts

International oil firms have warned Iraq that projects to increase its crude output will be delayed if the government insists on drastic spending cuts this year, a senior Iraqi oil official said. Oil companies helping Iraq develop

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Islamic State territory shrinking in Syria, Iraq: US

Islamic State has not gained significant ground since it took the Iraqi city of Ramadi a year ago, which it then lost in December, as the US-led coalition in Iraq and Syria has been helped by better intelligence and better equipped local forces,

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Iraq oil projects face delays as companies resist spending cuts

International oil firms have warned Iraq that projects to increase its crude output will be delayed if the government insists on drastic spending cuts this year, a senior Iraqi oil official said on Friday. Oil companies helping Ir

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Iraq plans to boost Basra crude exports in June

Iraq plans to boost crude oil exports from its southern region to 3.47 million barrels per day in June, potentially beating a record volume set in November, a preliminary loading programme showed.   June's ex

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