Iranian Energy Minister Reza Ardakanian (pictured) has said the export of electricity to neighboring countries has reached a record high in the past year. Addressing a Sunday session of Tehran’s City Council, Ardakanian said management of the situation over the past two water years has helped the country break the record in three sectors of […]
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)
Iraq has signed a landmark deal with the Gulf Cooperation Council (GCC) for a power line to import 500 megawatts of electricity by 2020, local reports said on Sunday. According to the Iraqi Electricity Ministry, the 300-kilometre line will run from Kuwait to Iraq’s southern port of Faw and be financed by the GCC. Electricity […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Years of war and instability have damaged Iraq's gas and oil infrastructure, leaving it dependent on energy imports, despite having huge reserves. Now it wants to turn that around, with help from overseas […]
By John Lee. Iran’s gas and electricity exports to Iraq are reportedy expected to reach $5 billion by the end of the current Iranian calendar year, which ends on March 21, 2020. Mehr news agency quotes the Secretary General of Iran-Iraq Joint Chamber, Seyed Hamid Hosseini, as saying that if Iraq agrees it is possible […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Basra protests build in Iraq as sub-standard services persist In an exclusive interview with Al-Monitor, Iraqi Minister of Electricity Luay al-Khatteeb talked about the situation of Iraq’s electricity sector amid tense […]
By John Lee. The Trump administration has reportedly granted Iraq a 120-day waiver from its sanctions against Iran, to allow it to continue importing electricity from the country during the hottest of the summer weather. The decision followed a phone call on Friday between Secretary of State Michael Pompeo (pictured) and Iraqi Prime Minister Adel […]
Washington has exempted Baghdad from some of its unilateral sanctions against Tehran, allowing Iraq to continue importing energy from Iran, according to the US envoy to Baghdad. Baghdad can now buy energy from Iran, US charge d’affaires Joey Hood told reporters on Wednesday, Iran's Press TV reported. The waiver will allow Iraq to continue buying […]
President Hassan Rouhani has called for Iran and neighbouring Iraq to expand their gas and electricity dealings and boost bilateral trade to $20 billion, state TV reported, despite difficulties caused by US sanctions against Tehran. “The plans to export electricity and gas and hopefully oil continue and we are ready to expand these contacts not […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. There is a fight over energy in Iraq between the US and Iran. Iraq relies on Iranian gas for nearly half of its energy - gas that is now subject to US sanctions […]
By John Lee. The Gulf Cooperation Council (GCC) is reportedly in discussions with Iraq to connect electricity grids. An official at the UAE's Ministry of Energy and Industry told Reuters that the GCC could export its surplus electricity to Iraq. (Source: Reuters)
Iraq is negotiating with the U.S. for exemptions from the impending snap-back of sanctions against Iran, arguing that it could not cut consumption of Iranian electricity and natural gas immediately without suffering serious economic harm and social instability. An Iraqi delegation was in Washington last week seeking a waiver for its cross-border trade, meeting with […]
