AIRLINK 73.80 Increased By ▲ 0.80 (1.1%)
BOP 5.43 Increased By ▲ 0.08 (1.5%)
CNERGY 4.33 Increased By ▲ 0.02 (0.46%)
DFML 28.33 Decreased By ▼ -0.22 (-0.77%)
DGKC 75.36 Increased By ▲ 1.07 (1.44%)
FCCL 20.60 Increased By ▲ 0.25 (1.23%)
FFBL 31.20 Increased By ▲ 0.30 (0.97%)
FFL 10.30 Increased By ▲ 0.24 (2.39%)
GGL 10.43 Increased By ▲ 0.04 (0.38%)
HBL 115.37 Decreased By ▼ -0.60 (-0.52%)
HUBC 132.15 Decreased By ▼ -0.05 (-0.04%)
HUMNL 6.60 Decreased By ▼ -0.08 (-1.2%)
KEL 4.20 Increased By ▲ 0.17 (4.22%)
KOSM 4.67 Increased By ▲ 0.07 (1.52%)
MLCF 39.00 Increased By ▲ 0.46 (1.19%)
OGDC 134.20 Increased By ▲ 0.35 (0.26%)
PAEL 23.90 Increased By ▲ 0.07 (0.29%)
PIAA 27.29 Increased By ▲ 0.16 (0.59%)
PIBTL 6.84 Increased By ▲ 0.08 (1.18%)
PPL 113.59 Increased By ▲ 0.79 (0.7%)
PRL 27.80 Decreased By ▼ -0.36 (-1.28%)
PTC 15.05 Increased By ▲ 0.16 (1.07%)
SEARL 56.65 Increased By ▲ 0.23 (0.41%)
SNGP 65.95 Increased By ▲ 0.15 (0.23%)
SSGC 11.00 Decreased By ▼ -0.01 (-0.09%)
TELE 9.10 Increased By ▲ 0.08 (0.89%)
TPLP 11.95 Increased By ▲ 0.05 (0.42%)
TRG 69.71 Increased By ▲ 0.61 (0.88%)
UNITY 23.81 Increased By ▲ 0.10 (0.42%)
WTL 1.35 Increased By ▲ 0.02 (1.5%)
BR100 7,467 Increased By 32.9 (0.44%)
BR30 24,313 Increased By 93.6 (0.39%)
KSE100 71,700 Increased By 340.6 (0.48%)
KSE30 23,644 Increased By 77 (0.33%)
Markets

US allows Iraq to import Iranian energy for three more months

BAGHDAD: The United States has allowed Iraq to import Iranian gas for its power grid for another three months by ext
Published June 15, 2019

BAGHDAD: The United States has allowed Iraq to import Iranian gas for its power grid for another three months by extending a waiver to sanctions - but insists that Baghdad seek alternative sources.

Iraq has had several extensions to the waiver first granted last year after Washington reimposed sanctions on Tehran's oil sector forbidding countries from purchasing Iranian energy.

"An additional 120-day waiver was granted to allow Iraq to continue to pay for electricity imports from Iran," the US State Department said in an emailed statement.

An Iraqi government source said the extension was given during a phone call between Prime Minister Adel Abdul Mahdi and US Secretary of State Mike Pompeo.

The State Department said the United States continued to insist on "diversifying energy imports away from Iran," however.

President Donald Trump's administration has said oil-rich Iraq must become more self-reliant for its electricity, including by harnessing gas energy and reducing flaring at oil production sites.

US energy giant General Electric is in the running to win a large share of multibillion-dollar contracts to rebuild Iraq's electricity system amid intense US lobbying efforts.

Washington reimposed sanctions on Iran's oil industry in November, citing concerns about its nuclear programme and what it said was its meddling in the Middle East.

Iraqi officials have said they might need years to wean the country of Iranian power.

Iraq relies heavily on Iranian gas to feed several power stations, importing roughly 1.5 billion standard cubic feet per day via pipelines in the south and east.

Washington wants to roll back Iranian influence in the Middle East, including in Iraq, where Tehran holds broad sway over politics and trade.

Although Iraq has one of the world's largest natural gas reserves, it has moved slowly to develop them and has relied on Iran to supply it with gas and electricity.

Copyright Reuters, 2019

Comments

Comments are closed.