Tag Archives | Iraq

The coming Iran-US Confrontation in Iraq

By Zakiyeh Yazdanshenas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. In June 2014, Mosul was seized by the Islamic State (IS), whose leader Abu Bakr al-Baghdadi soon afterward announced a caliphate from the city’s grand mosque. Now the caliphate is seemingly coming to an end. […]

Iran Starts Pumping Oil from Azar Joint Oilfield

Iran on Tuesday, March 14, began pumping 15,000 barrels/day of crude oil from Azar Oilfield which it shares with Iraq. Early production from the field, located in the border city of Mehran, began in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh. Azar Oilfield development project is aimed at production […]

Oil Output to hit 4.15m bpd in 2022

By John Lee. According to a report from Bloomberg, the International Energy Agency (IEA) has predicted that Iran will increase its oil production capacity by 400,000 barrels per day (bpd) to reach 4.15 million bpd by 2022. The Paris-based agency also forecasts that neighbouring Iraq will retain its position as OPEC’s second-biggest producer, adding 700,000 […]

Iraq, Iran agree to Resolve Dispute on Joint Oil Fields

By Sara al-Qaher for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  On Feb. 20, the Iraqi Oil Ministry signed a memorandum of understanding with the Iranian Oil Ministry to settle disputes over the joint oil fields and examine the possibility of building […]

US Unlikely to take on Iranian Forces in Iraq

By Hamdi Malik for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  Despite tough talk, US unlikely to take on Iranian forces in Iraq US President Donald Trump and Iraqi Prime Minister Haider al-Abadi have spoken over the phone about the […]

Bank Sepah Expanding Ties with Iraq

By John Lee. The CEO of Iran’s Bank Sepah, Mohammad Kazem Choghazardi, has said that since the lifting of sanctions his bank has been active in Iraq. During a meeting with the Iraqi Ambassador to Iran, Rajeh al-Mousavi, this week, he said: “Omid Investment Group, whose main shareholder is Bank Sepah, has invested in some […]

Shiite Political Differences widen Gap between Najaf, Qom

By Ali Mamouri for Al Monitor. Any views expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News.  Amid the reform protests taking place in Baghdad, political differences between Shiite clerics interested in Iraqi affairs have been widening in the two cities of Qom and Najaf. While controversial […]

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Iran, Iraq Sign MoU to Export Kirkuk Oil

Iraq’s Oil Ministry announced that Tehran and Baghdad have signed a memorandum of understanding (MoU) to carry out studies on the construction of a pipeline to export crude oil from the northern Iraqi fields of Kirkuk via Iran. In a statement, the Iraqi ministry said the agreement was signed during a recent ceremony in the […]

Iran Petroleum Minister Heads to Iraq

Iranian Minister of Petroleum Bijan Zangeneh left Tehran for Baghdad on Monday as the head of a delegation to Iraq . The visit is being made as a follow-up on last month’s visit of another Iranian delegation to neighboring Iraq for discussing details of two memoranda of understanding (MoUs) between the oil ministers of the […]

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Iran, Iraq to build “Industrial Townships”

By John Lee. Iranian Industry Minister Mohammad Reza Nematzadeh (pictured) and his Iraqi counterpart Mohammad Shiya al-Sudani have reportedly agreed on designing and building “industrial townships” in some Iraqi provinces. According to IRNA, Nematzadeh said that there a total of 750 industrial townships where over 40,000 industrial and producing units are active, adding, “we are […]