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LONDON/BAGHDAD, April 1 (Reuters) - Iraq's federal government and the Kurdistan Regional Government (KRG) are close to striking a deal aimed at resuming northern oil exports, four sources familiar with the discussions told Reuters on Saturday. Revenues will be deposited in an account managed by the MNR and supervised by Baghdad, the KRG official said. Iraq's oil ministry spokesman could not immediately be reached outside regular business hours. Baghdad and the KRG have agreed to continue meetings following the resumption of oil exports to find solutions to other lingering problems. "[These include] the contracts of the foreign companies operating in Kurdistan and the Kurdish debts," the senior Iraqi oil official said.

☆ Oil settles 1% higher on tightening supplies, cooling US inflation
▼ + stars: | 2023-03-31 | by ( Shariq Khan | ) www.reuters.com time to read: +3 min

The most actively traded Brent futures, for June delivery, settled up $1.29, or 1.6%, at $79.89 a barrel. Brent futures for May delivery, which expired upon settlement, gained 50 cents, or 0.6%, to settle at $79.77 a barrel. West Texas Intermediate crude (WTI) for May delivery settled higher by $1.30, or 1.8%, at $75.67 a barrel, gaining about 9% for the week. Signs that inflation is slowing tend to support oil prices as this could point to less aggressive interest rate hikes from the Fed, lifting investor demand for risk assets like commodities and equities. Brent settled lower for the third quarter in a row, the first time that has happened since 2015.

☆ Oil ticks up as US inflation cools, but set to end March lower
▼ + stars: | 2023-03-31 | by ( Shariq Khan | ) www.reuters.com time to read: +2 min

Brent futures , which have risen nearly 6% this week, were up 26 cents, or 0.3% at $79.53 a barrel by 10:56 a.m. EDT (1456 GMT). West Texas Intermediate crude (WTI) rose 37 cents, or 0.5% to $74.74, having gained about 8% so far this week. If those levels hold, oil prices will record their second straight week of gains, but Brent and WTI were also set for losses of about 5% and 3%, respectively. Oil prices were also buoyed after producers shut in or reduced output at several oilfields in the semi-autonomous Kurdistan region of northern Iraq following a halt to the northern export pipeline. OPEC pumped 28.90 million barrels per day (bpd) this month, a Reuters survey found, down 70,000 bpd from February.

LONDON, March 31 (Reuters) - Oil prices ticked up on Friday with U.S. inflation data showing some signs of slowing price rises, but on the month oil was on course for its weakest performance since November. Oil prices have broadly recouped these losses as worries about a global banking crisis have abated after banks in the U.S. and Europe were rescued. While the inflation data showed signs of cooling, it remained elevated, which could lead to the Federal Reserve raising interest rates one more time this year. Oil prices were buoyed after producers shut in or reduced output at several oilfields in the semi-autonomous Kurdistan region of northern Iraq following a halt to the northern export pipeline. Also sending a bullish signal was data showing U.S. crude oil stockpiles fell to a two-year low.

LONDON, March 31 (Reuters) - Oil prices dipped on Friday, with benchmarks heading for their weakest monthly performances since November, ahead of key U.S. inflation data which could give clues on future interest rate moves and the strength of the dollar. U.S. West Texas Intermediate (WTI) crude fell 44 cents, or 0.5%, to $73.93, having gained about 7% so far this week. Markets are now waiting for U.S. personal consumption expenditures (PCE) inflation figures, tracked closely by the Federal Reserve, which are due at 1230 GMT. Also sending a bullish signal was data showing U.S. crude oil stockpiles fell to a two-year low. With oil prices recovering from recent lows, the Organization of the Petroleum Exporting Countries and allies led by Russia are likely to stick to their existing deal to cut oil output at a meeting on Monday, sources said.

BEIJING, March 31 (Reuters) - Oil prices ticked down in Asian trade on Friday as bullish sentiment about Chinese demand and potential Middle Eastern supply disruptions was tempered by uncertainty over U.S. economic data to be released later in the day. U.S. West Texas Intermediate (WTI) crude fell by 22 cents, or -0.3%, to $74.15, having gained about 8% this week. Markets are now waiting for U.S. spending and inflation data on Friday and the resulting impact on the U.S. dollar. "Disappointing data may cause concerns about Fed policy again and cap the recent gains," she added. The U.S. Energy Information Administration said U.S. crude oil stockpiles fell unexpectedly in the week to March 24 to a two-year low.

BEIJING, March 31 (Reuters) - Oil prices were very slightly down in Asian morning trade on Friday as bullish sentiment about Chinese demand and potential Middle Eastern supply disruptions was tempered by uncertainty over U.S. economic data on Friday. Markets are now waiting for U.S. spending and inflation data on Friday and the resulting impact on the U.S. dollar. Industrial activity in China has become a key determinant of prices in recent weeks after its ending of coronavirus-related restrictions, amid weaker global demand. Oil prices are set to cap a second straight week of gains after the largest bank failure after the 2008 financial crisis spooked traders and roiled markets. The U.S. Energy Information Administration said U.S. crude oil stockpiles fell unexpectedly in the week to March 24 to a two-year low.

SINGAPORE, March 31 (Reuters) - Oil prices climbed in early Asian trade on Friday as sentiment was boosted by an expansion in factory activity in China, the world's second largest crude consumer, and as concerns grew about Middle Eastern supply. U.S. West Texas Intermediate (WTI) crude rose 17 cents, or 0.23%, to $74.54, having gained about 8% this week. China's manufacturing activity rose in March at a slower pace compared with a record breaking expansion in February, but still exceeded expectations by economists in a Reuters poll. Industrial activity in China has become a key determinant of prices in recent weeks following its ending of coronavirus-related restrictions, amid weaker global demand. The U.S. Energy Information Administration said U.S. crude oil stockpiles fell unexpectedly in the week to March 24 to a two-year low.

REUTERS/Umit BektasMarch 31 (Reuters) - An international arbitration ruling on March 23 prompted the shutdown of Iraq's northern crude oil exports through Turkey and sent oil prices back towards $80 a barrel. Iraq's federal government says its state-owned marketed SOMO is the only party authorised to manage crude exports through Ceyhan. Turkey was also asked to pay 50% of the discount at which KRG oil was sold, three sources said. According to a Turkish source, Iraq's initial demand was for about $33 billion. This comprised 370,000 bpd of KRG crude and 75,000 bpd of federal crude, a source familiar with pipeline operations said.

Also supporting prices was a Wednesday report from the U.S. Energy Information Administration that U.S. crude oil stockpiles fell unexpectedly in the week to March 24 to a two-year low. These factors offset bearish sentiment after a lower than expected cut to Russian crude oil production in the first three weeks of March. The 300,000 bpd production decline compared with targeted cuts of 500,000 bpd, or about 5% of Russian output, sources familiar with the data told Reuters. Meanwhile, OPEC+ is likely to stick to its existing deal on reduced oil output at a meeting on Monday, five delegates from the producer group told Reuters. "If all goes as expected, and we manage to avoid a recession, oil prices will dance around $75-$85/bbl in the coming months," FGE analysts said in a note.

☆ Iraqi Oil-Pipeline Closure Supports Global Crude Prices
▼ + stars: | 2023-03-30 | by ( Benoit Faucon | Joe Wallace | ) www.wsj.com time to read: 1 min

An oil well northwest of Kirkuk, Iraq. Oil exports through a vital pipeline account for the bulk of the economy in Iraqi Kurdistan. The closure of a vital oil pipeline in northern Iraq is bolstering international prices and threatens supplies in European countries hunting for alternatives to Russian crude. Producers including Norway’s DNO ASA, London-listed Gulf Keystone Petroleum Ltd. and Dallas-based HKN Energy Ltd. say they have either started to shut wells in semiautonomous Iraqi Kurdistan, or will soon do so if the blockage doesn’t free up. They lost access to the pipeline after the federal Iraqi government said last weekend it had won a long-running arbitration case against Turkey over control of Kurdish crude exports.

ANKARA, March 28 (Reuters) - Turkey's Energy Ministry said on Tuesday that Iraq had been ordered by the International Chamber of Commerce (ICC) to pay compensation to Ankara in a longstanding arbitration case related to oil exports from northern Iraq via Turkey. The Turkish energy ministry statement was released after Iraq's oil ministry said on Saturday the ICC had ruled in its favour in the case. The Turkish statement said the ICC had recognised a majority of Turkey's demands, without saying how much compensation Iraq had been ordered to pay. "(The ICC) ordered Iraq to pay a compensation to Turkey," the ministry said, without revealing the amount of compensation. "This case is in fact a reflection of disagreement between Iraq's central government and Iraq's Kurdish Regional Administration," the Turkish ministry said.

March 25 (Reuters) - Iraq halted crude exports from the semi-autonomous Kurdistan region and northern Kirkuk fields on Saturday, an oil official told Reuters, after the country won a longstanding arbitration case against Turkey. Turkey informed Iraq that it will respect the arbitration ruling, a source said. Turkey subsequently halted the pumping of Iraqi crude from the pipeline that leads to Ceyhan, a separate document seen by Reuters showed. "A delegation from the oil ministry will travel to Turkey soon to meet energy officials to agree on new mechanism to export Iraq's northern crude oil in line with the arbitration ruling," a second oil ministry official said. Turkey would need to source more crude from Iran and Russia to make up for the loss of northern Iraqi oil, the letter said.

☆ Iraq and Iran sign deal to tighten border security
▼ + stars: | 2023-03-19 | by ( Ahmed Rasheed | ) www.reuters.com time to read: +2 min

[1/3] Iraqi Prime Minister Mohammed Shia al-Sudani looks on as Iraq's National Security Adviser Qasim al-Araji and Iran's Supreme National Security Council secretary Ali Shamkhani sign the security agreement that includes coordination in protecting the common borders between the two countries, in Baghdad, Iraq, March 19, 2023. The joint security agreement includes coordination in "protecting the common borders between the two countries and consolidating cooperation in several security fields", a statement from the Iraqi prime minister's office said. Iran's Supreme National Security Council secretary Ali Shamkhani signed the deal with Iraq's National Security Advisor Qasim al-Araji, in the presence of Iraqi Prime Minister Mohammed al-Sudani, the prime minister office said. "Under the signed security deal, Iraq pledges it would not allow armed groups to use its territory in the Iraqi Kurdish region to launch any border-crossing attacks on neighbour Iran," said an Iraqi security official who attended the signing. Iran has also accused Kurdish militants of working with its arch-enemy Israel and has often voices concern over the alleged presence of the Israeli spy agency Mossad in the autonomous Iraqi Kurdish region.

☆ What I Failed to Understand About Saddam’s Iraq—and American Power
▼ + stars: | 2023-03-18 | by ( ) www.wsj.com time to read: +1 min

A foreign correspondent tries to see the world in shades of gray, not in black and white. Despite the simple labels of many pundits, the world is not neatly divided between exemplary democracies and demonic dictatorships. There are quite a few illiberal and shambolic democracies in the developing world, as well as autocracies where the rule of law functions somewhat. But Iraq under Saddam Hussein , before the U.S. invasion launched 20 years ago this week, seemed to me like an exception. Massive photos of the dictator covered virtually every vertical surface.

☆ Factbox: Who has run Iraq since the 2003 U.S.-led invasion?
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +5 min

BAGHDAD, March 16 (Reuters) - The U.S.-led invasion of Iraq was designed to pave the way for a thriving democracy but the mostly ineffective governments elected since 2003 have left many Iraqis disappointed. Sadr led an armed insurgency against the U.S. occupation of Iraq after American and international troops toppled Saddam. But the tables turned in 2003 with the U.S.-led invasion that ushered in Shi’ite dominance leaving Sunnis, vulnerable. Sunnis have been divided by clan and ideological rivalries since 2003, which Sunni voters complain makes them weak against Shi'ite rivals. Halbousi, an engineer from western Iraq, has formed good relations with Shi'ites and Kurds who helped him become speaker.

☆ Iraqis recount their struggles after Saddam Hussein's fall
▼ + stars: | 2023-03-15 | by ( Amina Ismail | ) www.reuters.com time to read: +9 min

But he says ridding the nation of Saddam has just created anarchy for others to bleed the country dry. Under Saddam's rule minorities were tolerated and not singled out for their religious beliefs, but were oppressed if they opposed the government. After the fall of Saddam, they were targeted by Islamists for their religious beliefs and labelled apostates or devil worshippers. A CHRISTIAN: PASCALE WARDAWhen U.S.-led forces invaded, Iraqi Christian Pascale Warda was in London lobbying European leaders to depose Saddam. It was the same under Saddam," said Warda, who had several members of her family executed by the state.

☆ Two decades after Saddam's fall, Iraqis still haunted by disappearances
▼ + stars: | 2023-03-13 | by ( Charlotte Bruneau | ) www.reuters.com time to read: +8 min

As exhumations dragged on, more atrocities were committed in sectarian conflict and amid the rise and fall of armed groups, such as Al Qaeda and Islamic State militants, as well as Shi'ite Muslim militias. Tens of thousands of Iraqis were killed by Saddam's forces during his rule. According to Siddiq, massacres committed by Islamic State militants, who seized much of northern Iraq in 2014 and held it for three violent years, have been prioritised. In Sinjar, where Islamic State committed what U.N. investigators described as genocide against Iraq's Yazidi minority, about 600 victims have been reburied, with some 150 identified. His name was not among the hundreds of victims identified by Siddiq's team, and Mohammed remains in limbo.

☆ U.S.-led Iraq war ushered in years of chaos and conflict
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +4 min

[1/5] A general view of Tahrir square as demonstrators take part during the ongoing anti-government protests in Baghdad, Iraq November 5, 2019. Here is a look at some of the violence, including suicide bombings and beheadings, that has plagued Iraq, a major OPEC oil producer and key U.S. ally, since the 2003 war. * March 20, 2003 - U.S.-led forces invade Iraq from Kuwait to oust Saddam Hussein. * October 2004 - Al Qaeda leader in Iraq Abu Musab Al-Zarqawi starts waging bloody attacks designed to turn majority Shi’ite Muslims against minority Sunnis in a civil war. * January 2007 - Bush announces a new war strategy including a “surge” of U.S. troops into Iraq to combat the insurgency.

☆ Pentagon chief makes unannounced trip to Iraq as 20-year anniversary of invasion nears
▼ + stars: | 2023-03-07 | by ( Idrees Ali | Thomson Reuters | National Security Correspondent Focusing On The Pentagon In Washington D.C. Reports On U.S. Military Activity | ) www.reuters.com time to read: +2 min

Austin, the most senior official in President Joe Biden’s administration to visit Iraq, was the last commanding general of U.S. forces there after the invasion. “I'm here to reaffirm the U.S.-Iraq strategic partnership as we move toward a more secure, stable, and sovereign Iraq,” Austin said. The United States is broadly interested in a strategic partnership with the government of Iraq," the senior U.S. defense official, speaking on the condition of anonymity, told reporters. The United States and Iran came close to full-blown conflict in 2020 after Iran's Revolutionary Guards' top commander Qassem Soleimani was killed in a drone strike. "I think that Iraqi leaders share our interest in Iraq not becoming a playground for conflict between the United States and Iran," the defense official added.

Before Sudani formed his government he struck a deal with the KDP, which dominates the administration in Erbil, capital of the semi-autonomous region in northern Iraq. Under the Iraqi constitution, the Kurdish region is entitled to a portion of the national budget. A spokesman for the KRG, Jotiar Adil, said the "politically motivated" court was trying to spoil the deal between Erbil and Baghdad. A source with knowledge of the meetings said Erbil and Baghdad remained far apart on the hydrocarbon law. Additional reporting by Ali sultan in Sulaimaniya; Editing by Michael Georgy and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Turkey's push into Iraq risks deeper conflict
▼ + stars: | 2023-01-31 | by ( Amina Ismail | ) www.reuters.com time to read: +9 min

REUTERS/Amina IsmailSARARO, Iraq, Jan 31 (Reuters) - Looming over the deserted village of Sararo in northern Iraq, three Turkish military outposts break the skyline, part of an incursion that forced the residents to flee last year after days of shelling. Turkey's advances across the increasingly depopulated border of Iraqi Kurdistan attract little global attention compared to its incursions into Syria or the battle against Islamic State, but the escalation risks further destabilising a region where foreign powers have intervened with impunity, analysts say. EMPTY VILLAGESA Kurdish official, who declined to be named, also said Turkey now had about 80 outposts in Iraq. NEW TARGETSBeyond the humanitarian impact, Turkey's incursion risks widening the conflict by giving carte blanche to regional rival Iran to step up intelligence operations inside Iraq and take its own military action, Kurdish officials say. According to a Washington Institute report, attacks on Turkish military facilities in Iraq increased from an average of 1.5 strikes per month at the start of 2022 to seven in April.

☆ Islamic State Suspected to Be Behind Series of Attacks in Iraq
▼ + stars: | 2022-12-22 | by ( David S. Cloud | Ghassan Adnan | ) www.wsj.com time to read: 1 min

People mount over the coffins of people killed in a militant attack near Baghdad earlier this week. BAGHDAD—Suspected Islamic State militants ambushed a military patrol in northern Iraq late Wednesday, killing two Iraqi soldiers and wounding three others, Iraqi security officials said, in the latest sign that the group is attempting a violent resurgence. There was no immediate claim of responsibility for the attack near the city of Kirkuk, but the officials said they suspected fighters from Islamic State. Gunmen opened fire on Iraqi troops riding in two military vehicles, which were also targeted by roadside bombs, according to the officials.

☆ Turkey's Baykar launches new jet-powered drone, aiming for air-to-air combat
▼ + stars: | 2022-12-15 | by ( Omer Berberoglu | ) www.reuters.com time to read: +2 min

[1/5] Kizilelma (Red Apple), Turkish defence firm Baykar's first jet-powered unmanned aerial combat vehicle (UCAV), flies over Corlu near Istanbul, Turkey December 14, 2022. Turkey's new drone powered by a jet-engine shows similar exterior features to fifth generation fighter jets. Baykar says in addition to conventional drone missions, Kizilelma will be able to conduct air-to-air engagements. After it got removed from the F-35 fighter jet program, Turkey converted its vertical take-off aircraft carrier, which is still under construction into a drone carrier. The carrier will serve as a base for Kizilema and other drones in use by the Turkish military.

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