Iraq | Egypt Oil & Gas - Part 62
Sanctions Proposed Against Those Buying ISIS Oil
A proposed U.N. resolution to crack down on the financing of terrorist groups calls for sanctions on individuals and companies trading oil produced by the Islamic State and other al-Qaida-linked groups.
Iraq Displaces Iran as India Supplier
India’s Mangalore Refinery and Petrochemicals Ltd (MRPL) has replaced Iran with Iraq in its list of oil suppliers and has purchased its first cargo of Basra Light from Baghdad.
Iraq: Budget Trimmed Due to Oil Prices
Falling oil prices forced Iraq’s cabinet to revise its draft 2015 budget, trimming its forecast for oil to $55 a barrel from $60.
Shell to Make Iraq Top Petrochem Producer
Royal Dutch Shell (RDSa.L) has signed a deal with Iraq worth $11 billion to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said
Disputed Kurdish Tanker Leaves Texas
More Kurdish oil will probably head to the U.S. even as a tanker carrying 1 million barrels of disputed crude returns to the Mediterranean Sea six months and $60 million less valuable after anchoring off Texas.
Egypt Cancels Iraq’s Debts for Oil Shares
Reports revealed that the Egyptian and Iraqi governments have reached the proposal on the Iraqi debt to be canceled in exchange for shares of oil.
Iraq: Output Must Rise to Compensate for Price Drop
Iraq, the nation adding more new oil to global markets than any other supplier in OPEC, said it needs to boost production and exports of crude to compensate for collapsing prices.
Kurd Oil Boosting Supply at Low Prices
Oil producers in Iraqi Kurdistan are unrelenting in their goal to boost output even after the collapse in international prices to below $50 a barrel.
