• 4 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 7 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 10 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 13 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 30 mins EU has already lost the Trump vs. EU Trade War
  • 10 mins More dumbed down? re Hong Kong Act of Congress
  • 16 hours Impeachment S**te
  • 50 mins Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 3 hours Article: Did Exxon only make $39 Million onshore U.S. last quarter ?
  • 23 hours 55.00 WTI
  • 8 hours Visualizing Pennsylvania Oil & Gas Production (Through September 2019)
  • 4 hours U.S. Shale To Break Records Despite Bearish Rhetoric
  • 1 day Water, Trump, and Israel’s National Security
  • 1 day Everything You Need To Know About Trump
  • 2 hours Last I Checked
  • 2 days IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 2 days Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 41 mins Petroleum Industry Domain Names
  • 45 mins What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?

Breaking News:

China’s Hunger For Coal Is Growing

U.S. Shale Producers Slash Spending Once Again

U.S. Shale Producers Slash Spending Once Again

US shale producers are cutting…

Could The Aramco IPO Kill OPEC?

Could The Aramco IPO Kill OPEC?

If the Aramco IPO does…

U.S. Renews Sanctions Waiver For Iraq To Buy Energy From Iran

Iraq Iran

The U.S. Administration has renewed for another 90 days a sanctions waiver for Iraq to continue importing energy from neighboring Iran despite the American sanctions on Tehran, an official with the U.S. State Department told Reuters on Wednesday.   

“Iraq was granted a 90-day waiver to purchase energy imports from Iran,” the official told Reuters on condition of anonymity.

This is the third waiver for Iraq—which depends on Iranian electricity and natural gas imports for part of its energy needs—that the United States has granted since it re-imposed sanctions on Iran’s oil, energy, and shipping industries in early November 2018.

At the end of last year, the U.S. granted Iraq a 90-day extension to the initial 45-day waiver allowing Baghdad to continue imports of electricity from Iran after the U.S. sanctions on Tehran returned.

Major Iraqi power plants are dependent on Iranian natural gas supply, while Iraq also imports electricity from Iran, as Baghdad’s power generation is not enough to ensure domestic supply.

Iraq has argued that it needs more time to find alternative sources of electricity supply if it is to avoid more and more power outages, which is one of the main reasons for protest rallies in the heart of Iraq’s oil region in the southern city of Basra last summer.

The United States, for its part, has been urging Iraq to become energy independent, at least energy independent from Iran.

Related: Trump’s Last Chance To Subdue Gasoline Prices

At his keynote address at the CERAWeek energy conference in Houston last week, U.S. Secretary of State Mike Pompeo said that the U.S. is encouraging countries to partner with the U.S. for their energy security.

“We’re reminding them that we’re simply better to do business with than Russia, China, or Iran,” Pompeo said, calling out Iran for the energy influence it exerts over Iraq.  

“Perhaps there’s no clearer example than in Iran. Iran uses its energy exports to exert undue influence all across the Middle East, most particularly today on Iraq. While the United States is working to develop an independent, sovereign Iraq, Iran is using its energy to create a vassal state,” Secretary Pompeo said.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play