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Dust Storms sweep across Iraq as Govt Solutions Falter

By Wassim Bassem for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. 

On Nov. 3, NASA published clear images taken by its satellites of the severe dust storm that hit Iraq recently. The climate changes sweeping Iraq are causing human casualties and economic damages. Hundreds of cases of suffocation were recorded.

The Ministry of Health announced Oct. 30 that there were more than 4,200 cases of suffocation in most governorates, including 528 in Karbala. During the dust storm, the Iraqi Civil Aviation Authority canceled its flights, and Iranian flights to Baghdad and Najaf airports were also canceled. Ninevah province recorded 1,108 cases of suffocation in the camps for internally displaced persons.

The storms also affected the course of the battles between the Iraqi forces and the Islamic State (IS). On Oct. 31, the Iraqi forces were forced to postpone the campaign aimed to retrieve the city of Qaim, west of Anbar, from IS because of the lack of visibility caused by the dust storms.

While dust storms are occurring in neighboring countries such as Saudi Arabia, Kuwait and even Iran, “Iraq is one of the most affected countries by the storm, at the level of its environment, individuals’ health and economy,” said Amer Habib of the Technical College Musayyib in Babil province and the director of a project on organic fertilizers in Babil.

“This is due to the fact that Iraq is a barren land where vegetation is scarce. Human activities have swept away orchards and agricultural lands, which also led to the decrease of the rivers’ water levels and the lack of rainfall, which resulted in the drying up of huge areas of agricultural spaces.”

In 2011, the World Meteorological Organization identified dust storms as a natural disaster. Several countries around the world have strengthened their defense strategies against this environmental threat with green belts of trees that are resistant to drought and harsh environments. The stakeholders, especially local governments in Iraq, have been following the same approach for years and have developed projects to help eliminate desertification.

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Dubai: Wataniya Signs for neos

Low-cost carrier Wataniya Airways has selected the Airbus A320neo Family for its fleet expansion.  Golden Falcon Aviation, the exclusive aircraft provider for the Kuwaiti airline, signed a memorandum of understanding (MOU) with the manufacturer for 25 A320neo Family jets on day three of the Dubai Airshow.

Wataniya Chairman Ali Al Fouzan, explained: “We are looking forward to upgrading and further enhancing our fleet.  The A320neo Family will offer our customers the most comfortable and modern cabins with 18in wide seats whilst ensuring profitability and efficiency.  The addition of the aircraft will enable us to further strengthen our network as we continue to serve our valued customers.”

The MOU covers 25 aircraft. (Photo Airbus)

Wataniya Airways resumed operations in July after a six-year hiatus and uses a fleet of two A320ceos on a network covering the Middle East and Europe.

John Leahy, Chief Operating Officer Customers, Airbus Commercial Aircraft, said: “This new order of 25 A320neo Family aircraft demonstrates the confidence in our leading single-aisle aircraft.  Its operational efficiency and unrivalled passenger comfort make it the perfect choice for Wataniya’s fleet expansion and growth plans.”

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Dubai: EgyptAir Selects CS300

EgyptAir has signed a letter of intent (LOI) for up to 24 Bombardier CS300s.

The deal, which was announced on day three of the Dubai Airshow, consists of 12 airframes and 12 purchase rights.  If EgyptAir exercises all 12 purchase rights, the firm order is valued at nearly $2.2bn.

“It is our pleasure to have this new partnership with Bombardier, which came as a continuation of our fleet modernisation strategy,” explained Safwat Musallam, Chairman and CEO of EgyptAir Holding Company.  “We undertook a thorough evaluation process of our fleet and realised that the CS300 would fit perfectly into our business plans and growth strategy.”

Musallam highlighted the aircraft’s range as a key factor in the airline’s decision saying it enabled the carrier to serve domestic and regional destinations as well as the Middle East and Europe.

“We look forward to expanding our network with the CS300 and we are happy to see that the partnership announced with Airbus will bring added support to the C Series programme,” he added.

Fred Cromer, President, Bombardier Commercial Aircraft, said: “We’re thrilled that EgyptAir selected the CS300 aircraft to renew its fleet.  Bombardier’s 20-year market outlook foresees demand for 450 airplanes in the 60- to 150-seat category for the region and this LOI confirms the need for right-sized aircraft in the Middle East.  We are confident that our small single-aisle C Series is ideally-suited to serve the hot temperature environments of the region and will undoubtedly provide performance and economics that will drive higher profitability.”

Fred Cromer, President, Bombardier Commercial Aircraft (left) and Safwat Musallam, Chairman and CEO of EgyptAir Holding Company, sign the paperwork in Dubai. (Photo Bombardier)

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IBBC holds Successful Autumn Conference in Dubai

Iraq Britain Business Council holds successful Autumn Conference in Dubai

Following on from the first Iraq Britain Business Council conference in Dubai in 2016, the IBBC was delighted to host its Autumn Conference in the UAE once again. The event was strongly supported by the UAE authorities.

Alongside Baroness Nicholson, the UK Prime Minister’s Trade Envoy to Iraq and President of the IBBC, the conference was opened by H.E. Abdullah Al Saleh, Under Secretary for Foreign Trade and Industry, UAE Ministry of Economy.

The Minister reminded delegates that non-Oil & Gas related trade between the UAE and Iraq had already passed 11 Billion USD in 2016, with Dubai in particular being a hub for local and international companies in the region.

The Minister firmly believes that the UAE’s role in the rebuilding of Iraq will continue to expand and expressed his wish to cooperate with organisations such as the IBBC to accomplish this crucial task.

Vikas Handa, IBBC UAE Representative and the Managing Director of the Emirati Company DrillTech, warmly thanked the minister and stated that the IBBC stands ready to work even more closely with the UAE in Iraq.

The Government of Iraq sent a high calibre ministerial delegation led by H.E. Mr Qasim Al-Fahdawi, The Minister of Electricity, to the conference. The delegation included H.E. Mrs Ann Naufi Aussi Balbool, Minister of Construction Housing and Public Municipalities; H.E. Kadhim Fijan Al Hamami, Minister of Transport; H.E. Dr Sami Al Araji, Chairman of the National Investment Commission (NIC); and H.E. Mr Fayadh Hassan Nima, Deputy Minister of Oil for refining affairs.

The conference was structured around several sessions in which the Iraqi officials and international companies operating successfully in Iraq, most of which are members of the IBBC, exchanged their views and experiences.

These sessions focused on strengths, weaknesses and opportunities of the economy in Iraq, Reconstruction & Infrastructure, Transport, Power and Oil & Gas. In parallel, a series of high level round-table discussions between investors and Iraqi Government representatives took place.

The conference included for the first time a presentation on the rapidly developing Tech sector in Iraq , given by the CEO of Zain.

IBBC thanks the International Finance Corporation (World Bank) and the IMF for its participation. Thanks also go to the IBBC members who sponsored the conference: Gold Sponsor International Islamic Bank; Silver Sponsors Serco and Gulftainer; Lunch Sponsor Rolls-Royce; pre-reception Sponsor Wood; and Coffee Break Sponsors Eversheds Sutherland and KCA Deutag.

IBBC Managing Director, Christophe Michels, stated that the increasing involvement of the UAE and wider GCC with Iraq was a game changer for the country. The IBBC very much welcomes this development and is delighted to be part of it and support it. The organisation will increase its presence in the UAE and the Autumn Conference in Dubai will become a regular feature in its calendar of events.

(Source: IBBC)

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Video: Tremor hits Iraq-Iran Border, Hundreds Killed

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Rescue teams have been deployed to the regions struck by Sunday’s 7.3 magnitude earthquake on the Iran-Iraq border; initial assessments are that some eight Iranian villages have been affected.

At least 207 people have died so far, with an estimated 1800 others injured.

Rescue teams have been deployed towards the epicentre, 30km southwest of the Iraqi town of Halabjah.

Al Jazeera‘s Charlotte Bellis reports:

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South Korea Provides Food for Syrian Refugees in Iraq

The United Nations World Food Programme (WFP) welcomed a contribution of US$1.5 million from the Republic of Korea that will provide food assistance for some 30,000 vulnerable Syrian refugees in the Kurdistan Region of Iraq for two months.

Song Woong-Yeob (pictured), Ambassador of the Republic of Korea to Iraq, said:

“In the aftermath of conflict, the Republic of Korea was once a recipient of food assistance, including from WFP.

“We have now become donors and maintain a strong partnership with WFP in over 30 countries. We sincerely hope this contribution will provide much needed relief to Syrian refugees and their families in Iraq.”

This contribution will allow WFP to provide food assistance to Syrian families that have sought refuge in Iraq. Through electronic food cards that WFP provides to vulnerable people in Iraq, each family member will receive US$19 per month to purchase the food they prefer from local shops.

In addition to allowing for greater choice in their diets, this programme injects cash into the local economy, which benefits shops and producers with increased demand for their products.

Sally Haydock, WFP Representative in Iraq, said:

“Thanks to this generous and timely donation from the Republic of Korea, WFP will continue to address the underlying causes of vulnerability for Syrian refugees in Iraq, increase families’ self-reliance and reduce the need for international assistance in the future.”

Since 2014, the Republic of Korea has provided US$4.8 million in support of WFP food assistance for Syrian refugees in Iraq.

(Source: WFP)

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South Korea Provides Food for Syrian Refugees in Iraq

The United Nations World Food Programme (WFP) welcomed a contribution of US$1.5 million from the Republic of Korea that will provide food assistance for some 30,000 vulnerable Syrian refugees in the Kurdistan Region of Iraq for two months.

Song Woong-Yeob (pictured), Ambassador of the Republic of Korea to Iraq, said:

“In the aftermath of conflict, the Republic of Korea was once a recipient of food assistance, including from WFP.

“We have now become donors and maintain a strong partnership with WFP in over 30 countries. We sincerely hope this contribution will provide much needed relief to Syrian refugees and their families in Iraq.”

This contribution will allow WFP to provide food assistance to Syrian families that have sought refuge in Iraq. Through electronic food cards that WFP provides to vulnerable people in Iraq, each family member will receive US$19 per month to purchase the food they prefer from local shops.

In addition to allowing for greater choice in their diets, this programme injects cash into the local economy, which benefits shops and producers with increased demand for their products.

Sally Haydock, WFP Representative in Iraq, said:

“Thanks to this generous and timely donation from the Republic of Korea, WFP will continue to address the underlying causes of vulnerability for Syrian refugees in Iraq, increase families’ self-reliance and reduce the need for international assistance in the future.”

Since 2014, the Republic of Korea has provided US$4.8 million in support of WFP food assistance for Syrian refugees in Iraq.

(Source: WFP)

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Video: Kurdistan Secession Bid takes a toll on Economy

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

The economy in the Kurdish region of Iraq has taken a hit after the referendum on secession.

The central government in Baghdad has closed international airspace, tourists are staying away, and there’s been fighting between Iraqi forces and Kurdish Peshmerga.

And while a ceasefire is now in place, uncertainty continues to affect the region and its economy.

The Kurds are disappointed in the people they thought were their allies, especially the US.

Al Jazeera‘s Stefanie Dekker reports from Dohuk, Northern Iraq@

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DNO Flows Peshkabir-3 Well

DNO ASA, the Norwegian oil and gas operator, today announced flow rates of more than 3,000 barrels of oil per day (bopd) from the first zone tested in the Peshkabir-3 well in the Kurdistan region of Iraq. Nine other oil zones and one gas zone have been identified for testing in a 1.2 kilometer horizontal section of Cretaceous and Jurassic reservoir.

The Company has fast tracked the development of the field and an early production facility will be commissioned by year-end. The previously drilled Peshkabir-2 well has produced at a steady rate of 4,700 bopd since May and comingled with over 100,000 bopd from the adjacent Tawke field for export. DNO’s operations in Kurdistan continue uninterrupted.

DNO is the most active driller in Kurdistan with three rigs deployed and 15 wells in 2017 across three operated fields in various stages of production, development and appraisal. Most recently, the Company spud the Hawler-1A multilateral well in October to appraise the Benenan heavy oil field in the Erbil license.

The Company has received year-to-date export payments totaling USD 297 million net to DNO, up from USD 210 million during the full-year 2016. With continuing export payments, DNO will step up investments in Kurdistan in 2018.

The Company today released its third quarter operating and financial update, reporting an operating profit of USD 469 million during the quarter. This follows recognition of USD 556 million as other income following the receivables settlement agreement with the Kurdistan Regional Government in August 2017.

Pursuant to the agreement, DNO was assigned an additional 20 percent in the Tawke license, bringing the Company’s operated stake to 75 percent. Partner Genel Energy plc holds the remaining 25 percent interest.

DNO’s cash balance stood at USD 399 million at the end of the third quarter, up from USD 261 million at end-2016. With the strengthening of its balance sheet, the Company’s equity ratio has increased to 60 percent.

(Source: DNO)

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Kurdistan Oil Conference in London Postponed

By John Lee.

The CWC Kurdistan-Iraq Oil and Gas conference, planned for London in December, has been postponed.

The Kurdistan Regional Government (KRG) cited “the current logistical and other circumstances affecting the Kurdistan Region” for their request to reschedule the conference.

CWC has said that new dates and venue will be announced shortly.

(Sources: KRG, CWC)