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OIL AND GAS
US grants Iraq new 60-day waiver to import Iranian gas
by Staff Writers
Baghdad (AFP) Sept 23, 2020

The US has granted Iraq a 60-day extension to a sanctions waiver allowing it to import Iranian gas for its crippled power grids, an Iraqi official told AFP on Wednesday.

Baghdad relies on gas and electricity imports from its neighbour Tehran to supply about a third of its electricity sector, worn down by years of conflict and poor maintenance.

The US blacklisted Iran's energy industry in late 2018 but has since granted its ally Baghdad a series of temporary waivers to stave off country-wide blackouts.

In May, Washington granted Iraq a four-month extension as a gesture of good will towards Mustafa al-Kadhemi, who had just formed a cabinet seen as more US-friendly than its predecessor.

The US has pressured Iraq to use the waivers to become independent from Iranian energy, specifically by partnering with American firms, and had been frustrated by the slow progress under the previous premier Adel Abdel Mahdi.

While Kadhemi's cabinet has sought to fast-strack such deals, it has been unable stem the near-daily rocket and IED attacks on Western military and diplomatic interests.

On his trip to Washington in August, Kadhemi scored agreements with various US firms for energy development across Iraq, including Chevron, Baker Hughes, Exxon and General Electric.

As OPEC's second-biggest producer, Iraq relies on crude exports to fund more than 90 percent of its state budget, but this year's price collapse has seriously undermined the government's fiscal position.

In a further blow, coronavirus has spread across the country, with more than 330,000 confirmed cases and 8,700 deaths announced by the health ministry.

mjg/har

EXXONMOBIL

BAKER HUGHES

GENERAL ELECTRIC

CHEVRON


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OIL AND GAS
Airbus aims for hydrogen-powered plane by 2035
Paris (AFP) Sept 21, 2020
Airbus is aiming to put the world's first hydrogen-powered commercial plane into service by 2035, the European aircraft maker's boss said in remarks published Monday. Hydrogen is a clean fuel, emitting only steam, but whether it is green depends on the carbon footprint of the fuels used to produce it. France and other European countries are investing billions of euros in the development of green hydrogen, with the highly polluting transport industry a prime area for its intended use. "It is ... read more

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