Iraqi Oil Minister Supports Output Increase Projects

A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. (Reuters)
A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. (Reuters)
TT
20

Iraqi Oil Minister Supports Output Increase Projects

A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. (Reuters)
A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. (Reuters)

Iraq’s Oil Minister Ihsan Abdul Jabbar expressed keenness to implement sustainability projects and increase the output of crude oil and gas at the oilfields of North Oil Company in Kirkuk, 250 km to the north of Baghdad.

During his visit to the company’s headquarters on Sunday, he stated that the government and the ministry are determined to boost the production at the company.

The Ministry aims to address technical, economic and security challenges in an expedited manner.

It also seeks to increase and sustain production based on national efforts as well as cooperation with global firms.

Jabbar called for fast-forwarding the implementation of optimal gas investment and output increase projects.

He discussed with senior officials at the company ways to develop output and optimize the investment of flare gas. They further addressed efforts to supply power stations with sufficient quantities of dry gas.

"The administration of the Basra and the south oil companies and the relevant departments in the Ministry are putting the final touches to the proposed project scheduled to be signed in the upcoming period," a statement of the Ministry of Oil said on June 19.

Jabbar, said: "These projects are a priority in the Ministry's plans for an optimal investment of flared gas and upholding the infrastructure."

He urged oil companies to intensify meetings and talks regarding the technical, financial, legal, economic, and contractual aspects with the national companies and relevant departments and experts.

The purpose behind this is to reach the ideal drafting of contracts and agreements with international companies and therefore obtain the highest profit to Iraq.



Trump Threatens Canada with 35 Percent Tariff Rate Starting Aug 1

US President Donald J Trump participates in a cabinet meeting in the Cabinet Room of the White House in Washington, DC, USA, 08 July 2025.  EPA/AARON SCHWARTZ / POOL
US President Donald J Trump participates in a cabinet meeting in the Cabinet Room of the White House in Washington, DC, USA, 08 July 2025. EPA/AARON SCHWARTZ / POOL
TT
20

Trump Threatens Canada with 35 Percent Tariff Rate Starting Aug 1

US President Donald J Trump participates in a cabinet meeting in the Cabinet Room of the White House in Washington, DC, USA, 08 July 2025.  EPA/AARON SCHWARTZ / POOL
US President Donald J Trump participates in a cabinet meeting in the Cabinet Room of the White House in Washington, DC, USA, 08 July 2025. EPA/AARON SCHWARTZ / POOL

Canada will face a 35 percent tariff on exports to the United States starting August 1, President Donald Trump said Thursday in a letter to Prime Minister Mark Carney.

It was the latest of more than 20 such letters issued by Trump since Monday, as he continues to pursue his trade war threats against dozens of economies.

Canada and the US have been locked in trade negotiations in hopes of reaching a deal by July 21, but the latest threat appeared to have shifted that deadline, AFP said.

Both Canada and Mexico are trying to find ways to satisfy Trump so that the free trade deal uniting the three countries -- known as the USMCA -- can be put back on track.

"Throughout the current trade negotiations with the United States, the Canadian government has steadfastly defended our workers and businesses. We will continue to do so as we work towards the revised deadline of August 1," Carney posted on social media platform X Thursday night.

The United States-Mexico-Canada Agreement replaced the previous NAFTA accord in July 2020, after Trump successfully pushed for a renegotiation during his first term in office.

It was due to be reviewed by July next year, but Trump has thrown the process into disarray by launching his trade wars after he took office in January.

Canadian and Mexican products were initially hard hit by 25 percent US tariffs, with a lower rate for Canadian energy.

Trump targeted both neighbors, saying they did not do enough on illegal immigration and the flow of illicit drugs across borders.

But he eventually announced exemptions for goods entering his country under the USMCA, covering large swaths of products.

The letter on Thursday came despite what had been warming relations between Trump and Carney, who has been faced with his counterpart's regular musings that Canada should become the 51st US state.

Reciprocity

The Canadian leader came to the White House on May 6 and had a cordial meeting with Trump in the Oval Office.

They met again at the G7 summit last month in Canada, where leaders pushed Trump to back away from his punishing trade war.

Canada also agreed to rescind taxes impacting US tech firms that had prompted Trump to retaliate by calling off trade talks.

Separately, Trump announced in an interview with NBC that he was also thinking of slapping blanket tariffs of between 15 and 20 percent on August 1 on countries that had not yet received one of his letters.

The letters announce tariff rates of as much as 50 percent in the case of Brazil to kick in on August 1 unless better terms can be found before then.

Trump told NBC that the letter to the 27-country European Union, the US's biggest trading partner, would be sent "today or tomorrow (Friday)."

Brazilian President Luiz Inácio Lula da Silva said on Thursday that he is willing to negotiate with the United States after Trump said he would hit the country with his tough tariff.

He however reiterated that the Brazilian government is evaluating reciprocity measures.

In his letter addressed to Lula, Trump criticized the treatment of his right-wing ally Jair Bolsonaro.