Social and Events

The Kremlin said on Wednesday that it was too early to draw any conclusions about possible additional steps to stem the slump in oil prices before the global deal agreed by the OPEC+ group takes effect on May 1. Oil prices slumped to less than $16 a barrel on Wednesday, …

Iraq, OPEC’s second-largest oil producer, does not rule out OPEC+ members taking extra measures to halt the further slide of oil prices, but any steps will need to take into account global oil market developments, the country’s oil minister said on Tuesday. Iraq’s Thamer al-Ghadhaban, who participated in an emergency …

Iraqi Health Minister Jaafar Sadiq Allawi said on Tuesday Iraq is keen on joint venture investment with Iran to produce pharmaceuticals. Allawi made the remarks in a meeting held in Baghdad with Iran’s Ambassador to Iraq Iraj Masjedi. The Iraqi minister called on the Iranian companies to participate in the …

Kurdistan is committed to the OPEC+ oil production cut deal and will reduce output accordingly, the government of the semi-autonomous Iraqi region said in a statement following a meeting between Kurdish and Iraqi officials. Reuters reported that at the meeting, the two sides had agreed that Kurdistan would report monthly …

Kuwaiti Parliament Speaker, Marzouq al-Ghanim in a phone call with his Iranian counterpart, Ali Larijani stressed on Kuwait’s solidarity with Iranian people on fighting coronavirus. During the phone call, Marzouq al-Ghanim conveyed Kuwaiti emir Sabah Al-Ahmad Al-Jaber Al-Sabah’s greeting to Larijani as well as his concern over his infection with …

The World Bank (WB) will provide Iran with a $50- billion loan to support the country in fighting coronavirus. “For the first time since 2005, we will receive a loan worth 50 billion dollars from the World Bank. Preliminary measures have been taken by related bodies such as the Central …

The oil production at the South Yaran joint oil field in Khuzestan province in southwestern Iran (this field is called Majnoon field in Iraq) was increased as a result of drilling and commissioning of six new wells, said Head of South Yaran Oil Field Development Project Homayoun Kazemeini, Trend reports …

Saudi Aramco’s shares continued to decline during trading yesterday, despite Sunday’s historic agreement to reduce oil production that was reached by OPEC and the major oil producers in the world. Aramco shares were down 1.7 per cent by the end of trading yesterday having dropped 1.25 per cent on Sunday. …

Vladimir Putin’s deal with OPEC to cut oil output and boost prices three years ago was a triumph for the Russian leader, bolstering his clout on the global stage. But now he’s had to make stinging concessions after US President Donald Trump stepped in to end a price war. Amid …

The assistant for economic affairs at the Trade, Industry and Mining Development Corporation of Ilam province , Saeed Sharifi announced on Saturday that during the last Iranian year (ended 19 March 2020), one billion and 183 million dollars of goods were exported to Iraq through Mehran international borders. According to …