Iraq
_is_seen_outside_of_OPEC's_headquarters_in_Vienna,_Austria_Cropped_0_1746690314.png)
HALLIGAN: Power struggle in OPEC+ is pulling oil prices down
The oil market has entered choppy waters once again. Crude prices fell by a dramatic 18% in April y/y – the sharpest monthly drop since November 2021 – partly due to a global slowdown, but more due to a power struggle within OPEC+.
Iraq losing $1mn daily due to dust storms
Iraq is losing approximately $1mn per day due to dust and sandstorms that strike the country, according to a report by the Iraq Green Observatory, an environmental affairs monitoring body.
Iraq facing worst drought in history as water resources dwindle and climate crisis intensifies
Iraq is facing what officials are calling the "worst drought in its history," as water resources continue to dwindle and agricultural land deteriorates across the country, threatening both human security and economic stability.
Unemployed Iraqi engineers block Lukoil’s site in Basra
Unemployed engineers from northern Basra demonstrated today in front of the West Qurna 2 oil field operated by Russian company Lukoil on April 27.
Kazakhstan will put national interests over OPEC+ oil limits, says energy minister
Comments spark fears of price wars and even of a potential de facto exit from the coalition by the Central Asian country.
US forces withdraw from military base in Syria's Al-Hasakah province, Al-Watan reports
US troops and military equipment have begun withdrawing from a US military base in al-Shaddadi in Syria's Al-Hasakah province.
Turkey drops leaflets on Iraqi mountains urging Kurdish PKK to surrender
Turkish military aircraft dropped leaflets over mountainous areas in Duhok Province within the Kurdistan Region on the morning of April 22.
UPDATE: Iraqi PM throws weight behind local Cardinal Sako to be next Pope
Iraqi Cardinal Louis Sako has entered the list of candidates for the position of Pope following the death of Pope Francis on April 21.
_1745159577.jpg)
Iraq signs three MoUs with Chinese SEPCO for petrochemical projects in Karbala
The agreements cover the construction of four petrochemical plants, infrastructure development and the operation and maintenance of production units.
Global executions reach highest level since 2015, with Iran, Saudi Arabia and Iraq responsible for 91%
Iran, Iraq and Saudi Arabia were responsible for the overall rise in known executions, accounting for 1,380 recorded executions, or 91% of the global total.
Turkey says it wants no confrontation with Israel in Syria
“Unfortunately Israel is taking out, one by one, all military capabilities that a new state can use,” says Turkish foreign minister.
Oil falls 3.75% amid global trade war recession fears
Oil prices fell 3.75% on April 7, continuing last week's losses, as escalating trade tensions between the United States and China fuelled fears of an economic recession that could reduce crude demand.
US imposes 17% tariffs on Israeli goods while Iran faces only 10%
US President Donald Trump announced a comprehensive new trade policy on April 2 that reveals a striking disparity in tariff rates between Israel and Iran.
Desertification drives thousands of families from their homes in Iraq’s Dhi Qar
Dhi Qar Province has recorded the highest displacement rate due to desertification and drought in Iraq, with more than 1,000 people officially registered.
Chinese firm wins project management deal for Iraq oilfield
Chinese company HQC has secured a contract to provide project management services for Iraq's West Qurna 1 oilfield
China's Shang Xin secures $2bn contract to build industrial complex in Iraq's Basra
Iraq's Minister of Industry, Khaled Battal Najm, signed a contract with China's Shang Xin company to build a major industrial complex in Basra with investments exceeding $2bn.
Arab League and UN condemns brutal Israeli airstrikes on Gaza
The Arab League's Ahmed Aboul Gheit has hit out at Israeli strikes on Gaza on March 18 in a sign of collapsing relations between the two sides.
Iraq ditches dollar in digital dinar bid to end parallel market
Iraq's Central Bank is preparing to launch a digital dinar as part of its transition to digital currency management as it prepares to take steps away from a cash-based economy.
Iraq plans major tourism projects to attract 1mn visitors
Iraq wants to attract both Muslim and Christian tourists to its historical sites as it bids to build out new hotels and resorts.
Turkey reportedly keeps up military strikes on PKK despite Kurdish group’s unilateral ceasefire
At same time, Ankara backs Damascus move to integrate Kurdish-dominated SDF militia into Syrian national army. Erdogan officials usually refer to SDF and PKK as one and the same “terrorist” entity.