Iraq Exports in May Close to a High Record

Iraq’s oil exports have held over 3 million bpd in May. This keeps the shipments as the second-largest producer from OPEC’s close to a high record.

This adds to indications that Iraq gets high yield from significant members from the Organization of the Petroleum Exporting Countries (OPEC) focused on maintaining the market share on worldwide oil prices.

Organization of the Petroleum Exporting Countries

According to the oil analyst at JBC Energy in Vienna, Eugene Lindell, “There is little doubt that record crude exports out of Iraq are adding further length to an already extremely well-supplied market, thereby adding downside pressure.”

As per transportation data, Iraq’s southern terminals have exported a value of 2.55 million barrels per day (bpd) within the initial 21 days of May. In any case, exports from Iraq’s north by means of Ceyhan in Turkey, including Iraq’s Kirkuk unrefined and Kurdish oil, have arrived at the midpoint of 500,000 bpd so far in the month, as indicated by stacking information, up from April’s 450,000 bpd.

The southern oilfields, being produced with the assistance of foreign oil organizations, create the vast majority of Iraq’s oil and the terminals are its primary outlet to world markets. Situated a long way from the parts of the nation controlled by Islamic State, they have continued pumping notwithstanding the contention. Yet, some minor specialized glitches have weighed on fares so far this month, as per a delivery source.

Northern fares were disconnected from the net for the greater part of 2014 and continued in December after an arrangement in the middle of Baghdad and the Kurdistan Regional Government. Since the December restart, the fare rate has dramatically multiplied. Iraq’s aggregate fares so far in May of 3.05 million bpd, as indicated by the industry sources and loading data, are only below 3.08 million bpd that Iraq said it sent out in April – a record high. Iraq has focused on considerably higher exports in 2015.

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Iraq & Iran Discuss about Oil and Gas Drilling Agreement

Director General of the state-run Iraq Drilling Co. Idriss Mohsin al-Yasiri and CEO of Iran’s North Drilling Company Hedayatollah Khademi had gone to Tehran and talked about the Iranian organizations oil and gas drilling in the Arab nation.

Iran’s North Drilling Company

According to a reliable source, the aim of the said visit is the ceding of some projects in oil and gas drilling by Iraq to the Iranian area. Al-Yasiri said that the Iranian organization had the capacity to give a “full cycle of administrations” for drilling oil and gas fields in Iraq, provided with the technology as well as the labour which it comprised in the field.

He said that he anticipated that both sides would start to cooperate on vertical and directional drilling. Khademi publicized the capacities of his organization, saying it had logged new global records in drilling sour gas fields within South Pars in the midst of US-led sanctions.

He additionally expressed, “The aim is to promote joint cooperation between Iraq and the Islamic Republic of Iran.”

North Drilling was established as an upstream backup of the National Iranian Oil Company to work and supervise oil stages in the Caspian Sea. Yasiri said North Drilling could coordinate with private Iraqi organizations, adding IDC was prepared to facilitate possible tie-ups for continuing vicinity in the Iraqi oil industry.

Al-Yasiri stated that not at all like state-run organizations, private entities needn’t bother with the Iraqi parliament’s green light for foreign joint venture. Iran and Iraq have swung to close partners from staunch adversaries under the previous despot Saddam Hussein who directed a war between the neighbors eight years in 1980s.

The two nations consented to an arrangement in 2013 for exchange of Iranian natural gas to Iraq on a pipeline. It is expected that Iran will first deliver 4 million cubic meters of gas per day and increase it to 35 million cubic meters per day later to bolster three Iraqi power plants.

Leader of the National Iranian Gas Exports Company Ali Reza Kameli has said the gas conveyance could start in May relying upon the security circumstance in Iraq yet that appears to be impossible because of the Arab nation’s convoluted circumstance.

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Iraqi Forces has Recaptured Huseibah al-Sharqiyah held by IS

On Saturday, the Iraqi security forces and associated volunteer armies have retaken control of a residential area east of Ramadi, capital of Anbar territory, after substantial conflicts with Islamic State (IS) activists, a common security source said.Sunni militias

The troops upheld by Shia and Sunni militias brigades, known as Hashd Shaabi, figured out how to free the town of Huseibah al-Sharqiyah, east of Ramadi, after furious conflicts with the IS terrorists who recaptured the town late on Thursday.

The source likewise said that the troops and allied militias began their development before in the day toward the town from their bases in Habbaniyah airbase and the close-by town of Khaldiyah, by most accounts 80 km west of Iraq’s capital Baghdad.

The source also specified that the troops have freed the police station as well as surrounding buildings and houses after they drove out the extremist militants.

Huseibah al-Sharqiyah is a town with countless houses and a couple government structures situated on the main road between Khaldiyah and Ramadi towns. The operation to free the town is a piece of a noteworthy counter-hostile intended to free Ramadi, just about 110 km west of Baghdad, which fell in the hands of the IS after the deadly fights a week ago.

The IS terrorist group has held the major part of Anbar province and attempted to move toward Baghdad amid the previous couple of months, yet a few counter assaults by Shia militias and security forces have pushed them back.

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Iraqi Bank to Open 5 New Branches this Year

An Iraqi bank under the management of Jordanian arrangements will open 5 new branches in Iraq before the current year is over. This is a sign that there is still cash to be made in a significant part of the nation in spite of low oil prices and civil war.Capital Bank's CFO Au Dhaim

Iraq’s economy decreased an approximate 2.4% in 2014. Anyhow, enough of the economy remains moderately untouched by the contention, especially in the southern oil-delivering zones where Islamic State has not infiltrated, for banks to continue working, and the long haul capability of Iraq’s oil stores is as yet drawing some new venture.

However, enough of the economy remains have been moderately unharmed by the conflict, mainly in the southern oil-producing areas where the Islamic State has not entered, for banks to function continuously, and the long-standing potential of Iraq’s oil reserves is still attracting a number of fresh investment.

According to vice-chairman executive Ayman Abu-Dhaim, the National Bank of Iraq will open 5 branches this year within Baghdad and southern areas, incorporating two in the city centre and one close to the vast Rumaila oilfield.

Jordan’s Capital Bank possesses 62% after it puts resources in 2004. At present have 9 branches in Iraq that include 2 in the Kurdistan district.

Abu-Dhaim, who is Capital Bank’s CFO said, “Iraq is a strategic investment for us…If one can achieve this in the current conditions, imagine what one could do when the problems are solved.”

The central bank has guaranteed support for private banks, including the provision of state deposits. However, this hasn’t happened until now.

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Italdraghe and CPN Srl Collaboration to Build Three Dredgers in Iraqi Ministry of Water Resources

Italdraghe, an Italian dredger manufacturer in collaboration with CPN Srl are now constructing three dredgers for the Iraqi Ministry of Water Resources.Italdraghe

Taking after contract signing, the work is in progress on 1 Italdraghe SGT 400 D and 2 Italdraghe SGT 300 RB diesel cutter suction dredgers to be delivered to Um Qasser toward the end of this current year.

These three modified dredgers are well designed particularly by the Ministry’s river, dam, and sea projects and manufactured under RINA class can be dismantled for sea and land transportation.

The SGT 400 D stationary CSD, ready to dig down to 10 meters, highlights a spud carriage, telescopic deck crane, anchor booms, Iveco motors, and Isotta Fraschini, situating and reviewing framework and the generation of measuring hardware.

The SGT 300 RB dredgers two self propelled, with comparable installed gear but with underwater dredge pumps has the capacity to work at profundities approximately 25 meters.

Every dredger will be supplied jointly with 500 meters of inland and floating HDPE pipeline, a complete set of spare parts. These dredgers will be directed to join other Italdraghe hardware effectively supplied to Iraq, where an Italdraghe SF250 B multi-practical dredger has as of now been working for more than a half century.

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US Depicts Cooperation of the PMU in Freeing Anbar

Jeff Rathke, US Director, Press Office in the US Secretary of State expressed that the involvement of the Popular Mobilization Units in freeing Anbar territory in crucial. Jeff Rathke

He stated in a press conference that as they talked about a week ago, he thinks we’ll let the Iraqis characterize their vital needs. Obviously, it is imperative to retake Ramadi. They are certain to retake Ramadi.

“Also, I would bring up that throughout the weekend, in conference with the pioneers in Anbar, with Anbari pioneers and additionally the tribes there, Prime Minister Abadi has requested the Popular Mobilization Forces to help with that battle. This was a consistent vote, and he imagines that is additionally a reasonable evidence of shared reason,” he said.

He also included, “Well, as I said as well, this is – the city has been contested for some time. I’m not in a position to do a battlefield analysis from here. I think my colleagues in uniform would be better positioned to offer thoughts about the particular circumstances on the ground. As I mentioned, there was a series of large suicide vehicle bomb attacks.”

He said that throughout 12 months, the trend has been for ISIL to be driven in Iraq. In Tikrit as of late, different spots were the attack that happened again in the summer. When there were real apprehensions on Baghdad itself may even go under risk.

“We don’t have those fears now. We don’t see Baghdad as under threat, and we see in a number of places, including in Anbar and other parts of northern Iraq, ISIL being pushed back. It’s not a uniform positive message or a uniform positive picture; there are setbacks like in Ramadi. But we are confident that the Iraqi political leadership and their security forces working with us will be successful,” Mr Jeff Rathke concluded.

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UAE to Make Investments in Post-War Iraq and Yemen

Iraq’s economy minister, Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, said that the country’s economic growth and employment creation is pivotal to keep up the strength in the country. The UAE will put resources into post-war Iraq and Yemen with an end goal to settle the two war-torn nations through economic growth and employment creation.Sultan Bin Saeed Al Mansouri

The Iraqi government is facing budget shortfall this year as the fight against Daesh (the self-proclaimed Islamic State of Iraq and the Levant) and sustained frail oil prices get their toll. In the mean time, Yemen’s feeble economy has been managed a pass up the present flimsiness that has seen the president and his administration constrained into outcast.

Talking at the first yearly meeting in Dubai of World Free Zones Organization’s (World FZO), Al Mansouri said there will need to be an end to the fighting in Iraq and Yemen before the UAE contributes.

He stated, “We need stability for any kind of investment. Once the stability comes, then also we can move in there. I’m talking about investments here. I’m talking about needs, job generation, that’s got to come. It’s very important.”

The UAE has been putting resources into the area for a considerable length of time through its state-claimed supports in what Al Mansouri said, is a move that makes “employments to make stability.” The UAE is seen as one of a couple of political and economically established nations in the Middle East. It has developed as a noteworthy provincial financial powerhouse, pulling in a portion of the world’s biggest multi-nationals. Then again, geopolitical issues do have an expansive influence and can affect exchange streams and business in the nation.

The unemployment is soaring in Iraq, where vast wrap of the nation are under Daesh control. It is additionally high in Yemen, where Al Qaida’s most perilous establishment has built up itself. In the mean time, the UAE is United States- led campaign member that is dispatching air strikes against Daesh in Iraq and Syria, and is additionally an individual from the Saudi Arabian-drove coalition propelling air strikes against Al Houthi revolts in Yemen.

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Iraq Ministry of Transport’s Projects

The war against terrorism and oil prices decreased in Iraq running a deficiency in its 2015 financial plan. This has been joined by pressures in the country and adjacent nations because of military operations next to the Islamic State. On the other hand, the present environment has not halted the Ministry of Transport from advancing on executing planned projects.

Transport Minister Baqir Jabr al-ZubeidiIn an interview by a good source to (in courtesy of Al-Monitor) with Transport Minister Baqir Jabr al-Zubeidi, he said that the most ideal approach to beat Iraq’s remarkable circumstances is to create plans that are both sensible and additionally stable. As conditions bear noteworthy monetary difficulties and preclude certain improvement projects, Zubeidi affirmed that development ought not to stop, even in the midst of the hardest difficulties.

Maybe, excellent conditions force diverse ways to deal with planning and activity. Zubeidi’s service is keeping on finishing significant ventures in the transportation area, receiving extraordinary components and systems to beat the shortage of budget allowance and the temperamental security situation.

Al-Monitor asked, “What are the Ministry of Transport’s strategies, and what are its priorities?”

Zubeidi answered, “It is well known that the Ministry of Transport has huge requirements given its large projects. Coincidentally, the country has suffered a budget deficit and exceptional security conditions, which make the situation even more difficult. Practical and realistic plans have facilitated our tasks and allowed us to properly manage the ministry’s agenda. Our priorities are the completion of planned projects and finding other ways and means to overcome the budget deficit.”

Al-Monitor:  What do you mean by “different ways and means”?

Zubeidi:  “Investments and joint investments. The ministry never hesitated to put its projects out to tender for foreign companies, and this proved to be a great success. But the investment process is not easy. It is a double-edged sword if not properly handled. The Ministry of Transport’s projects are huge and expensive projects, and any mistake in retaining the right company or adopting an inappropriate plan might be disastrous.”

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Babylon is Bringing Back Tourists to the City

Around 56 miles south of Baghdad, the city of Babil’s ruins have flourished as the ancient Mesopotamian center of Babylon, established since the 19th century BC. During that time, the city has experienced neglects and deprived treatment of its structures. Iraqi cultural officials have discussed about the renovation of city tourism.UNESCO

There are two events of the current time that enormously added to endangering or wrecking parts of Babil’s ancient legacy. Initially, the renovation involved under former President Saddam Hussein as a component of his political-development program. Year 1988, a percentage of the structures were revamped in such a route, to the point that UNESCO challenged that the progressions debilitated Babil’s memorable position. The city was removed by the UNESCO from its World Heritage List that same year.

Jeff Allen, field administrator for the project of Future of Babylon, told Deutsche Welle on June 21, 2013, that the work was in progress to reestablish Babil to the UNESCO World Heritage List by uprooting all the advanced remodels made to the city in 1980, such as the Ishtar Gate concrete slabs.

The “US-led military invasion in 2003” was the second event. The ruins were further damaged when  the powers of the Coalition Provisional Authority set up Camp Alpha in Babil, annihilating parts of the archeological record with their utilization of heavy equipment, bringing on the demolition of a few structures.

Col. John C. Coleman, US military officer, apologized for the harm done in April 2006. The UNESCO discharged a report on harm to the city in June 2009, then after 2003.

While trying to take tourists back to Babil, the cultural authorities are concentrating on organizing out visits and advancing the city as a spot for celebrations and meetings. The city as of now has the Babylon Festival for International Cultures and Arts, held in the spring. It highlights verse and expressive arts occasions, and theater exhibitions. The seven-day 2015 celebration commenced April 10.

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Canada and Sweden Security Support to Iraq

On Saturday, Canadian Prime Minister Stephen Harper arrived in Iraq for a surprise visit that would incorporate a conference with Canadian soldiers prompting Iraqi troops battling against Islamic State militants. Canadian Prime Minister Stephen Harper

Canada has approximately seventy Special Forces in Kurdish territories of northern Iraq. The Canadian jets are joining in a U.S.-led mission as well to attack Islamic State positions within Iraq and Syria.

Mr Harper, who confronts a federal election in October, has declared that Canada would broaden its 6-month mission in a year until April 2016.

The opposition politicians have criticized the said extension, blaming the “mission creep” Conservative government, “Canada was being dragged into a war not of its own making.”

On the other hand, the Swedish parliament proposes to send 120 troops to Iraq. The joint committee between the Parliament and Swedish Ministry of Defense came up to this proposal and to send the military troops to fight ISIL.

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