By John Lee. Iran has reportedly reassured Iraq that there will be freedom of international maritime navigation in the Strait of Hormuz. Iranian President Hassan Rouhani (pictured) gave the reassurances to an Iraqi delegation visiting Tehran. (Source: Reuters)
By Youssef Ali. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. President Donald Trump’s decision to pull out of the nuclear deal and sign the executive order to reimpose sanctions on Iran has had a significant impact on the global oil markets. This move […]
By John Lee. Turkey's Energy Minister, Taner Yildiz, said the ministry has started technical work with Iraq's central government on shipping crude oil from Basra, in southern Iraq, via the Kirkuk-Ceyhan pipeline to Turkey's Mediterranean coast, according to Reuters. The announcement came days after the KRG said it might sell natural gas directly to Turkey […]
Iraq's Deputy Prime Minister with responsibility for Energy, Hussain Al-Shahristani, talks to CNBC about the oil price, the risk of Iran shutting the Strait of Hormuz, and the possibility of rehabilitating the pipeline from Iraq through Saudi Arabia. (Source: CNBC)
In an attempt to deal with any potential crisis should Iran close the Strait of Hormuz, Iraq has approved a plan to expand its oil export routes by adding capacity from its northern fields and building a pipeline to ship oil from southern oilfields to the Turkish port of Ceyhan (pictured), according to Reuters. "Short […]
Among the options being considered by Iraqi lawmakers to reduce dependence on the Strait of Hormuz, is the reopening an oil pipeline to Saudi Arabia that's been closed since the Gulf War in the 1990s. Currently, most of Iraq's oil exports are shipped by tanker from Basra through the Strait of Hormuz, but Iran has […]
Iraq is demonstrating its unique position in the Middle East again, flexing its new diplomatic muscle to resolve an oil exporting crisis between the West, OPEC and Iran, according to this article from NIQASH. But who’s behind these efforts: Iran, the US or Iraq itself? Any opinions expressed are those of the author, and do […]
Iraq, and the entire Gulf region is nervously contemplating the risk of possible Iranian action to close the Strait of Hormuz in response to sanctions imposed by the US and EU. And that nervousness is echoed around the world, as something of the order of a quarter of the world's oil supply is shipped through […]
Bloomberg reports that Iraq would lose the capacity to export 1.7 million barrels of crude a day if Iran blocks the Strait of Hormuz. “Iraq will have to depend on the northern route from where it can export 450,000 barrels a day through Turkey’s port of Ceyhan on the Mediterranean,” Oil Ministry spokesman Asim Jihad […]
The following is a presentation by General Barry R McCaffery (USA, retired), on the threat of an Iranian closure of the Strait of Hormuz. Barry McCaffrey served in the United States Army for 32 years and retired as a four-star General. At retirement, he was the most highly decorated serving General, having been awarded three […]
Iraq would be drastically affected should Iran block the Hormuz Strait. Most of the oil Iraq produces is exported via the Strait. The scenario is seeing Iraq, distinct because of its good relations with both the US and Iran, practice its new diplomacy again, according to this article from NIQASH. Any opinions expressed are those […]
