According to media reports, a US probe into alleged money laundering by former Ambassador to Iraq, Zalmay Khalilzad, has led Austrian authorities to freeze a Vienna bank account linked to him. Khalilzad allegedly transferred $1.4 million to a bank account owned by his wife, Cheryl Benard, in Vienna. According to reports, the money came from oil and building contracts in Iraq an
Read MoreLast week, a revised contract has been signed by British oil major BP and China's CNPC for Iraq's Rumaila oilfield has raised both companies' stakes in a joint venture formed to develop the field, as per the reports from officials. Under the revised contract, BP has cut the planned output target for the supergiant field to 2.1 million barrels per day from 2.85 million bpd and e
Read MoreErbil (IraqiNews.com) The Emirati Abu Dhabi National Energy Company (TAQA) assured suspending its performance in Kurdistan Region. The suspension was due to the latest security updates near Erbil province. Recently, the terrorist groups of the Islamic State in Iraq and the Levant started military threats for Erbil province. /End/
Read MoreBaghdad (IraqiNews.com) The Special Representative of the United Nations Secretary-General for Iraq (SRSG), Mr. NickolayMladenov, is seriously alarmed by reports regarding the inhuman conditions of the inhabitants of the northern town of Amerli, besieged and cut off from food and water supplies by the Islamic State of Iraq and the Levant (ISIL) armed group for almost two months
Read More(Reuters) - The capacity of Iraqi Kurdistan's independent oil pipeline will almost double to at least 200,000 barrels per day by the end of this month, helping the semi-autonomous region increase exports and revenue, industry sources and officials said. Oil revenues are a lifeline for the Kurdish Regional Government (KRG) in northern Iraq, whose peshmerga forces are being supp
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