From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Foreign Ministry Reveals US Warning of Sanctions if Nouri al-Maliki Returns as Premier Iraq's Foreign Ministry revealed a US warning of possible sanctions if Nouri al-Maliki returns as prime minister, as divisions deepen […]
By John Lee. Energy Intelligence reports that Iraq's state-owned Basra Oil Company (BOC) has subcontracted management of the West Qurna-2 oil field to a consortium of Italian engineering firm Bonatti and local firm Hilal al-Basra [Crescent Basra]. West Qurna-2, operated by Lukoil under a service contract, is fully state-owned. Following recent US sanctions on Lukoil […]
By John Lee. Russia's Lukoil has signed an agreement with US investment company Carlyle for the sale of LUKOIL International GmbH, a wholly owned subsidiary that holds the its international assets. The agreement is non-exclusive and subject to regulatory approval, including permission from the US Department of the Treasury's Office of Foreign Assets Control (OFAC). Lukoil […]
By John Lee. How does the US control Iraq's oil revenues? Reuters has published an explainer, available via investing.com: Click here to view. (Sources: Reuters / Investing.com)
By Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. One Year of Trump: Iraqi Dinar Speculators Still Waiting for a Miracle That Will Never Come As Donald Trump marks his first anniversary back in the White House on 20th January, one group […]
By John Lee. The United States and Iraq have held discussions focused on banking reform, financial compliance, and measures to counter illicit financial activity. According to a statement by the United States Special Envoy to Iraq, Mark Savaya, the talks involved the U.S. Department of the Treasury and the Office of Foreign Assets Control (OFAC), […]
By Simon Watkins for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Is Iraq About to Make Its Biggest Geopolitical Pivot in Years? Washington's escalation of sanctions on Russia's top oil firms has opened space for Western majors to re-enter Iraq. Click here […]
By John Lee. The Iraqi Embassy in Moscow has issued a clarification regarding reports that Iraq plans to nationalise the West Qurna-2 oil field, operated by Russia's Lukoil. The embassy confirmed that the field is fully state-owned. Under the 2008 licensing round agreement, Lukoil managed and developed the field and produced oil under a service […]
By John Lee. Iraq's Ministry of Oil has issued exclusive invitations to several major US oil companies to submit bids for taking over the operatorship of the West Qurna-2 field. The Ministry said it is pursuing a transparent, competitive process based on approved criteria for awarding oilfield development contracts. Direct negotiations are under way with […]
By Michael Knights for the Combating Terrorism Center (CTC) at West Point. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Rise of the E-Militias: Designated Terrorist Groups Infest Iraq's Digital Economy Iraq's digital economy is one of its fastest-growing sectors, driven by an expanding […]
By Alex Vatanka for The Middle East Institute. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. How Iraq's vote will shape the next phase of US-Iran competition Washington is once again leaning hard on Baghdad to narrow the space for Iran's proxy networks, […]
By John Lee. The United States has issued a sanctions waiver allowing continued operations related to Russia's Lukoil until 13th December, following restrictions imposed earlier this month. Lukoil said on 14th November that it is in negotiations with several potential buyers for its international assets, adding that a deal will be announced once agreements and […]
