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Developing Iraq s Mansuriya gas field to cost $2 1 bln -minister

Middle EastIraq s Mansuriya gas field to cost $2.1 bln, says minister Reuters 2 minute read Oil tankers are seen at a terminal of Sinopec Yaogang oil depot in Nantong, Jiangsu province, China June 11, 2019. REUTERS/Stringer Development of Iraq s Mansuriya gas field on the coast near the Iranian border is expected to cost $2.1 billion, Oil Minister Ihsan Abdul Jabbar said on Monday. China s Sinopec (000554.SZ) last month won a deal to develop the field in partnership with Iraq s state-run Midland Oil Company. read more Abdul Jabbar also said he does not expect oil prices to drop below $65 a barrel and that lower oil prices should not be a concern after OPEC+ eases production cuts from May. read more

US Grants Iraq 4-Month Sanctions Waiver to Buy Iranian Electricity Amid French Power Plant Deal

US Grants Iraq 4-Month Sanctions Waiver to Buy Iranian Electricity Amid French Power Plant Deal © AFP 2021 / AHMAD AL-RUBAYE https://sputniknews.com/middleeast/202104011082503725-us-grants-iraq-4-month-sanctions-waiver-to-buy-iranian-electricity-amid-french-power-plant-deal/ Washington has put steady pressure on Baghdad since 2018 to reduce its dependency on Iranian power imports, but the Kadhimi government has carefully manipulated US policy to win concessions while signing new deals with US adversaries including Iran, but also Russia and China. The US has extended Baghdad’s sanctions waiver by 120 days, allowing Iraq to buy electricity from Iran “to meet its short-term energy needs while it takes steps to reduce its dependence on Iranian energy imports,” a State Department spokesperson told reporters on Wednesday. It has given Iraq such waivers since economic sanctions were reimposed on Tehran in 2018.

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