January 24, 2018 | English | عربي
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January 22, 2018

Iraq will on Monday sign a memorandum of understanding with American energy company Orion to tap gas at an oil field in the south of the country, the petroleum ministry said.
The Nahr Bin Omar field, situated in the hydrocarbon-rich Basra province, is currently producing 40,000 barrels of oil a day, but only a small part of the gas from the field is being exploited.
Iraq is looking to tap its gas deposits to help overcome severe electricity shortfalls in the country of some 35 million people.
Baghdad has been"...

US shutdown extends into Monday as crunch vote delayed...
January 23, 2018

Hundreds of thousands of US federal employees will stay home without pay Monday after lawmakers failed to reach an agreement on ending a government shutdown before the start of the working week.

In Kurdistan and Iraq, per instructions from the State Department, all U.S. Consulate employees reported to work on Sunday, January 21 to"...



 

January 23, 2018

A committee from the Iraqi government arrived on Monday (January 22) in the capital of the Kurdistan Region, Erbil, to audit the payroll lists of the Ministry of Education.

A member of Kurdistan Region’s High Audit Committee, Yousif Othman, said the Iraqi government’s committee of 13 members will audit the ministry’s payrolls.

The committee will send a report"...

 
 
January 23, 2018

The U.S. dollar to Iraqi dinar (IQD) exchange rate remained down in the Kurdistan Region’s currency markets on Monday (January 22).

Broker Dana Mawlud told NRT that $100 was selling at 125,350 Iraqi dinars, 150 IQD lower than the previous day.

Mawlud also reported that 100 British pounds was at 172,000 IQD and 100 euros was at 152,000 IQD.

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January 23, 2018

Crude oil prices dropped slightly on Monday (January 22), compared to the previous close.

The price of Brent oil was at 68.50 a barrel, down slightly from $68.61 and U.S. WTI crude was at $63.17, down from $63.31.

The Organization of the Petroleum Exporting Countries (OPEC) decided to extend cuts in oil output by nine months to March 2018. The producer group is coping with a"...

 
 
January 23, 2018

Gulf Keystone Petroleum (GKP), operator of the Shaikan Field in the Kurdistan Region of Iraq, is today providing an operational and corporate update.

This is in advance of the Company’s full year results for the period ended 31 December 2017 which are expected to be announced on Wednesday 11 April 2018. The information contained herein has not been audited and may be subject to further review and amendment.

Operational"...

 
 
January 23, 2018

The global oil market is stabilizing as crude inventories are falling, Iraqi Oil Minister Jabar Al-Luaibi said on Monday.
The market “is heading in the right direction ... it will continue to stabilize until the end of the year,” he told reporters.
Global oil producers agree that they should continue cooperating on output after their deal on supply cuts expires at the end of this year, Saudi Energy Minister Khalid Al-Falih said on Sunday.
Iraq is the second-largest producer in the Organization"...