Funding Appeal for Humanitarian Needs in Iraq

IOM Launches Funding Appeal to Address Most Urgent Humanitarian Needs in Areas of Displacement and Return in Iraq

Five years after the onset of the ISIL crisis and the subsequent massive internal displacement, IOM Iraq is launching its funding appeal for emergency assistance in the amount of USD 41.4 million.

Although the number of internally displaced persons (IDPs) has gradually declined since 2017, there are still around 1,750,000 Iraqis living in displacement as of February 2019, due to significant obstacles to return such as damage to houses; lack of livelihoods and basic services; perceptions of insecurity in areas of origin; and mental and psychosocial distress. Around a third of the current population of IDPs, over 530,000 persons, is still living in camps, which require critical support.

IOM’s funding appeal is aligned with the 2019 United Nations’ Humanitarian Response Plan (HRP) for Iraq, which estimates that approximately 6.7 million people are in critical need of support. Nearly 65 per cent of those are concentrated in Ninewa, Anbar, and Salah al-Din, the governorates most severely affected by the recent conflict.

IOM will focus its humanitarian support in Iraq on three groups of concern: IDPs who remain in displacement both within and outside camps, vulnerable host communities in areas of displacement and return – where services are overstretched – and IDPs who have returned to their areas of origin but whose basic humanitarian needs are not being met.

In 2019, IOM plans to maintain its life-saving assistance to IDPs in camp settings through the provision of Shelter and Non-Food Items (NFI) support, providing primary health services, monitoring and addressing protection and psychosocial needs, supporting Water, Sanitation and Hygiene (WASH) services, and supporting camp co-ordination and camp management (CCCM) of IDP camps and informal settlements.

The appeal also includes a request for the continuation of IOM Iraq’s Displacement Tracking Matrix (DTM) which provides real-time reliable quantitative and qualitative data on displacement and returns.

“We highly appreciate IOM’s efforts to provide life-saving humanitarian assistance to displaced families in and out of camps as well as support them upon return their communities of origin. We look forward to our continued cooperation in 2019,” said Naseer Abdel-Sattar, Executive Director of the Joint Coordination and Monitoring Centre (JCMC) of the Government of Iraq.

“The protracted displacement crisis is one of the critical challenges that needs our focused attention, as many displaced people still depend entirely on the provision of humanitarian assistance. The local resources and capacities are already overstretched and pushed to the limit. IOM has been one of the key partners to provide life-saving assistance to the displaced people inside and outside the camps. We value the continued support and cooperation with IOM to support the most vulnerable people,” said Hoshang Mohamed, the Director General of Joint Crisis Coordination Centre (JCC) in Iraq’s Kurdistan Regional Government.

“Funding for humanitarian assistance is crucial to uphold the basic needs and dignity of vulnerable Iraqis in displacement and areas of return. It will prevent a reversal of the gains made to stabilize areas that have been most severely affected by the conflict,” said Gerard Waite, IOM Iraq’s Chief of Mission.

“Through partnership and collaboration with other humanitarian partners, the Government of Iraq, the Kurdistan Regional Government and local NGOs, we hope to address the most critical humanitarian needs while seeking durable solutions for those in protracted displacement,” he added.

The appeal document is available here (Arabic version here)

Click here to watch our video on the Crisis funding appeal.

(Source: UN)

Funding Appeal for Humanitarian Needs in Iraq

IOM Launches Funding Appeal to Address Most Urgent Humanitarian Needs in Areas of Displacement and Return in Iraq

Five years after the onset of the ISIL crisis and the subsequent massive internal displacement, IOM Iraq is launching its funding appeal for emergency assistance in the amount of USD 41.4 million.

Although the number of internally displaced persons (IDPs) has gradually declined since 2017, there are still around 1,750,000 Iraqis living in displacement as of February 2019, due to significant obstacles to return such as damage to houses; lack of livelihoods and basic services; perceptions of insecurity in areas of origin; and mental and psychosocial distress. Around a third of the current population of IDPs, over 530,000 persons, is still living in camps, which require critical support.

IOM’s funding appeal is aligned with the 2019 United Nations’ Humanitarian Response Plan (HRP) for Iraq, which estimates that approximately 6.7 million people are in critical need of support. Nearly 65 per cent of those are concentrated in Ninewa, Anbar, and Salah al-Din, the governorates most severely affected by the recent conflict.

IOM will focus its humanitarian support in Iraq on three groups of concern: IDPs who remain in displacement both within and outside camps, vulnerable host communities in areas of displacement and return – where services are overstretched – and IDPs who have returned to their areas of origin but whose basic humanitarian needs are not being met.

In 2019, IOM plans to maintain its life-saving assistance to IDPs in camp settings through the provision of Shelter and Non-Food Items (NFI) support, providing primary health services, monitoring and addressing protection and psychosocial needs, supporting Water, Sanitation and Hygiene (WASH) services, and supporting camp co-ordination and camp management (CCCM) of IDP camps and informal settlements.

The appeal also includes a request for the continuation of IOM Iraq’s Displacement Tracking Matrix (DTM) which provides real-time reliable quantitative and qualitative data on displacement and returns.

“We highly appreciate IOM’s efforts to provide life-saving humanitarian assistance to displaced families in and out of camps as well as support them upon return their communities of origin. We look forward to our continued cooperation in 2019,” said Naseer Abdel-Sattar, Executive Director of the Joint Coordination and Monitoring Centre (JCMC) of the Government of Iraq.

“The protracted displacement crisis is one of the critical challenges that needs our focused attention, as many displaced people still depend entirely on the provision of humanitarian assistance. The local resources and capacities are already overstretched and pushed to the limit. IOM has been one of the key partners to provide life-saving assistance to the displaced people inside and outside the camps. We value the continued support and cooperation with IOM to support the most vulnerable people,” said Hoshang Mohamed, the Director General of Joint Crisis Coordination Centre (JCC) in Iraq’s Kurdistan Regional Government.

“Funding for humanitarian assistance is crucial to uphold the basic needs and dignity of vulnerable Iraqis in displacement and areas of return. It will prevent a reversal of the gains made to stabilize areas that have been most severely affected by the conflict,” said Gerard Waite, IOM Iraq’s Chief of Mission.

“Through partnership and collaboration with other humanitarian partners, the Government of Iraq, the Kurdistan Regional Government and local NGOs, we hope to address the most critical humanitarian needs while seeking durable solutions for those in protracted displacement,” he added.

The appeal document is available here (Arabic version here)

Click here to watch our video on the Crisis funding appeal.

(Source: UN)

Iraq Oil Exports Down again in March

By John Lee.

Iraq’s Ministry of Oil has announced interim oil exports for March of 104,686,779 barrels, giving an average for the month of 3.377 million barrels per day (bpd), down from the 3.621 bpd exported in February.

These exports from the oilfields in central and southern Iraq amounted to 100,899,853 barrels, while exports from Kirkuk amounted to 3,063,972 barrels, and from Qayara 722,954 barrels.

Revenues for the month were $6.679 billion at an average price of $63.804 per barrel.

February export figures can be found here.

(Source: Ministry of Oil)

Iraq to Export 1m bpd Oil through Jordan

Iraq announced on Thursday the completion of the “technical preparations” to extend a pipeline to export one million barrels of oil per day through Jordan, Petra has reported.

“The export capacity of the Basra-Aqaba pipeline, which runs through Jordan, is expected to reach one million barrels per day (bpd),” Iraqi oil minister, Thamir Al-Ghadhban, said in a statement.

Al-Ghadhban explained that Iraq had completed the planning arrangements of the pipeline’s construction work. “The arrangements included its [the pipeline’s] track, components, absorptive capacity, the mechanisms of linking it to the northern Kirkuk oil fields, funding sources, and implementation and operational means,” he said.

The Iraqi official stressed that his country was only depending on the southern portal city of Basra for oil exports, noting that the ministry has prepared “a major plan for its rehabilitation and development with the aim to increase its export capacity levels.”

The government, Al-Ghadhban pointed out, plans to establish three linked crude oil exporting ports.

Baghdad and Amman recently concluded six bilateral agreements to develop their relations, most notably in the oil and energy sectors. The two governments said the agreements aimed at “revitalising” their economies and strengthening ties between Iraq and Jordan.

(Source: Middle East Monitor)

Lukoil CEO and Iraqi PM discuss Cooperation

By John Lee.

The President of Lukoil, Vagit Alekperov, has held a meeting with Prime Minister of Iraq Adil Abdul-Mahdi in Baghdad.

The meeting was attended by the Russian Ambassador to Iraq, Maksim Maksimov.

The parties discussed the current status of projects, among them the geological exploration at Eridu field (Block 10) in the south of Iraq.

Mr. Abdul-Mahdi expressed his support for the intention to deliver first production at Eridu field ahead of time.

(Source: Lukoil)

GKP Declares Dividend; Shares Rise

By John Lee.

Shares in Gulf Keystone Petroleum (GKP) were trading up more than three percent on Thursday morning after the company proposed issuing $50-million in dividends this year.

The company, which produces oil at the Shaikan field (pictured) in Iraqi Kurdistan, issued the following statement as part of its 2018 Full Year Results:

Financial

  • Record revenue of $250.6 million (FY 2017: $172.4 million)
  • EBITDA of $149.3 million (FY 2017: $104.3 million)
  • Profit after tax of $79.9 million (FY 2017: $14.1 million)
  • Net capital investment in Shaikan of $35.7 million (FY 2017: $8.1 million)
  • Cash balance of $295.6 million at year end (2017: $160.5 million)
  • The Company anticipates being fully funded for all phases of the Shaikan expansion
    programme under its current set of assumptions
  • $100 million bond refinancing in July 2018

Dividend

  • The Board confirms a dividend policy to shareholders, which will comprise an annual dividend on the ordinary shares of the Company of no less than $25 million per financial year
  • The Company is therefore pleased to announce its intention to pay an ordinary dividend on the ordinary shares of $25 million in 2019 and, given its current financial strength, the Board is also proposing to complement the ordinary dividend in 2019 with a $25 million supplemental dividend to shareholders on the ordinary shares
  • The total dividend of $50 million will be subject to approval at the next AGM in June 2019.  One third of the total dividend will be paid following approval at the Company’s AGM, with the balance payable following release of the Company’s half-year results

Operational

  • Full year gross average production of 31,563 bopd (2017: 35,298), at the upper end of guidance
  • GKP and its partner MOL reached agreement with the MNR in June 2018 to recommence investment into Shaikan, towards an initial production target of 55,000 bopd by Q1 2020
  • Common vision for a phased development that will grow gross Shaikan production to 110,000 bopd
  • The development vision described by the revised Field Development Plan (“FDP”) was submitted in October 2018. This revision has not been accepted by the MNR, specifically due to a request for additional assurances on the timing and commitment to eliminate gas flaring. As the parties aim to progress this matter and reach an agreement, investment on the ground continues as per the initial phases of this plan
  • On target to achieve plant de-bottlenecking by year-end and tie-in of the pipeline from PF-1 to the export system mid-year
  • GKP internal review indicates an upgrade in Proven (1P) reserves and no material changes to Probable reserves (2P). A revised Competent Person’s Report to be released following FDP approval
  • Robust HSSE performance with one LTI in 2018, the first in three years

Corporate

  • Signature of Crude Oil Sales Agreement in January 2018 normalised payments in line with oil prices and production.  Renewed in February 2019 through to 2020 providing certainty over payments for the foreseeable future
  • Further strengthening of the Board in 2018 with Jaap Huijskes appointed as Non-Executive Chairman, Martin Angle as Senior Independent Non-Executive Director and Kimberley Wood as Non-Executive Director

Outlook

  • On track for material uplift in production to 55,000 bopd in Q1 2020
  • In 2019, gross Capex associated with 55,000 bopd phase of between $130 million and $150 million, in addition to $20 million to $45 million associated with the subsequent development phase
  • Dividend distribution from 2019 onwards
  • Gross production guidance for 2019 unchanged at 32,000 – 38,000 bopd

Jón Ferrier, Gulf Keystone’s Chief Executive Officer, said:

Throughout 2018, our focus was on laying the foundations for the delivery of the Company’s phased growth plans, which envisages a step change in production profile.  The Company is on track to achieve its near-term production target of 55,000 bopd in Q1 2020, and with our partner MOL continues to work towards delivering the staged investment programme. The remarkable Shaikan reservoir presents a straightforward, low-cost onshore development opportunity with unrivalled near-term upside.

The new dividend policy represents another major milestone for the Company. It crystallises returns to shareholders while we preserve the ability to fully fund the Shaikan development and maintain a strong balance sheet; our platform for growth.

More details here.

(Sources: GKP, Yahoo!)

Iraq – Financing a Modern Economy

IBBC Spring Conference 2019

Iraq – Financing a Modern Economy

10 April, The Mansion House, London

The Iraq Britain Business Council (IBBC) invites you to attend its Ninth Annual Conference at the Mansion House on the 10th of April. This year’s conference is organised in partnership with the Central Bank of Iraq and the Iraqi Private Banking League.

With a strong focus on the Iraqi banking sector, two sessions of the conference will be devoted to financial sector issues. Other areas will focus on building human capital in the public and private sector and on oil & gas.

Christophe Michels, Managing Director of IBBC states:

“The security situation in Iraq is now much improved, with a new Government in place that has a clear mandate from the people to improve governance and to provide important basic utilities. IBBC is the Iraqi Governments private sector partner of choice for developing the private sector in Iraq. We firmly believe that only private enterprise can meet the challenges facing Iraq by developing a modern economy”.

H.E. Dr Fuad Hussein, Deputy Prime Minister and Minister of Finance will lead a high level delegation alongside Dr Mehdi Al Alak, Secretary General of the Council of Ministers, officials from the Central Bank of Iraq, a delegation from the Iraq Private Banks League and the Governors of Erbil, Sulamania and Karbala. A large delegation of Iraqi Businessmen from all governorates of the country will also be in attendance.

Round-table discussions will take place with Iraqi officials, including the Iraqi Governors, where delegates can engage in concentrated debates on country specific issues. As well as specific round-tables on Tech in Iraq and Women’s Group.

Dr Mehdi Al Alak, Secretary General of the Council of Ministers will present a paper on ‘Private Sector Development and Investment in Iraq‘. Delegates will receive an exclusive insight into the Government’s planned measures and strategies to realise this ambition. There will also be special presentations by the Central Bank of Iraq and Basra Gas Company.

Dr Renad Mansour, Research Fellow at Chatham House and the preeminent voice on Iraq in the UK is publishing a briefing paper specifically for the IBBC conference, discussing the short to medium term economic and political outlook for Iraq.

Baroness Nicholson of Winterbourne, President of IBBC and the Prime Minister’s Trade Envoy to Iraq, Azerbaijan, Turkmenistan & Kazakhstan will open the conference, alongside The Lord Mayor Locum Tenens, H.E. Dr Fuad Hussein, Deputy Prime Minister, Minister of Finance, Jon Wilks CMG, Her Majesty’s Ambassador to Iraq and Louis Taylor, Chief Executive of UK Export Finance (UKEF).

Conference Sessions & Speakers

The Banking Sector in Iraq

Chair: Gavin Wishart, Shire Oak International

Panellists: Dr Mazen Sabeh Ahmed, Central Bank of Iraq; Mohammed Delaimy, Standard Chartered Bank; UK Export Finance (UKEF); Ali Tariq Mostaf, Iraq Private Banking League; Richard Wilkins, JP Morgan

Stock Marker & Investment Opportunities

Chair: John Kemkers, Eversheds Sutherland (tbc)

Panellists: Shwan Ibrahim Taham, Iraqi Stock Exchange; Dr Alaa Abdel Hussein Al Saadi, Iraqi Securities Commission; London Stock Exchange (tbc)

Oil & Gas

Chair: Prof. Frank Gunter, Lehigh University

Panellists: Dr Mark Wharton, Shell; Lawrence Coleman BP; Bob Dastmalchi, Chevron

Capacity Building in Iraq

Chair: Ambassador Stuart Jones, Bechtel

Panellists: Dr Renad Mansour, Chatham House; Prof. Mohammed Al-Uzri, University of Leicester; Samer Al Mafraji, AMS Iraq

Dr Mai Yamani will be presenting the closing remarks for this important event.

Join IBBC, its members and the international business and finance community for a full agenda of expert speakers, UK & Iraqi politicians and many networking and business development opportunities.

You can register and purchase tickets via the IBBC website: https://www.iraqbritainbusiness.org/event/spring-conference-at-the-mansion-house

The conference is being generously supported and sponsored by Shell, Rolls-Royce, Standard Chartered Bank and Eversheds Sutherland.

For more information email london@webuildiraq.org or telephone 020 7222 7100.

(Source: IBBC)

Successful Appraisal Drilling at Eridu Field in Iraq

Lukoil and Inpex Corporation have successfully completed testing of the fifth well as part of the appraisal phase at the Eridu field (Block 10) in the southern part of Iraq.

The well recorded daily flow rate of more than 1,500 cubic meters of oil from the Mishrif formation and proved the current geological model of the Eridu field as effective.

Lukoil continues geological exploration at Block 10. For instance, in the mid-term the Company plans to drill and test several appraisal wells, complete 3D seismic surveys at the Eridu field and 2D seismic surveys at the block’s southern and central parts.

(Source: Lukoil)

The humble Book is helping Rebuild Lives in Iraq

By Hussein Al-alak. Republished with permission.

Read All About It! The humble book is helping rebuild lives in Iraq

To mark World Book Day, the UK-based charity, the AMAR International Charitable Foundation published these photographs from their school in Basra, Iraq. Each uplifting image demonstrates how AMAR is making positive changes to the lives of Iraqi children, through the power of the written word.

The School for Orphans was built in 2016 and up to 30% of the children who attend have lost both parents to war or disease. The school has modern facilities and provides a broad curriculum, so children get the best start in life. One of their main focuses is on reading.

The AMAR Foundation builds and rehabilitates educational facilities across Iraq, ensuring access to safe, clean classrooms and provides additional infrastructure, so the overall experience for children is conducive to successful learning.

According to the National Literary Trust and Manchester City Council, “Every community faces different challenges and we need local solutions.” For example, “reading for 10 minutes every day can help you relax, learn and feel good.”

By reading, we improve our literacy levels, increase educational achievements and future employment skills, along with improving our own health and social skills. As Jacqueline Kennedy Onassis once stated: “There are many little ways to enlarge your child’s world. A love of books is the best of all.”

From Manchester to Iraq – building a global village in education

AMAR is rebuilding the lives of some of the poorest and most disadvantaged people in Iraq. With Manchester being home to almost 20,000 Iraqi ex-patriates – many of whom escaped from the tyranny of Saddam Hussein – it’s the natural choice to be one of the charity’s first UK appeals centres.

The most recent Iraqi refugees are following in the footsteps of literary giants, such as poet Siegfried Sassoon, whose family arrived in Manchester from Basra in 1858. The British-Lebanese historian Albert Hourani, who was born in Manchester in 1915. His book, A History of the Arab Peoples, was described by Harvard University Press as being “an instant classic upon publication”.

Throughout the 1980’s and 1990’s, Iraq’s refugee children were keen visitors to school libraries across the city. Their parents saw it as a means of improving the youngsters’ spoken and written English, thus helping them to integrate into British daily life.

In 2018, Iraqi students at the University of Manchester collected around 1.000 books as part of the international efforts to re-stock the University of Mosul, which was destroyed whilst the city was under the occupation of Islamic State.

AMAR was founded in 1991 and is chaired by Baroness (Emma) Nicholson of Winterbourne. From 1923-1940, David Lindsay – the 27th Earl of Crawford and the grandfather of Baroness Nicholson – was also chancellor of the University of Manchester.

On the 19th May, AMAR supporters are taking part in the Manchester 10K, where they will be supporting the charity’s efforts in education across Iraq. Since its foundation, more than 5 million Iraqi children and adults have benefited from its services in education.

If you wish to learn more about AMAR’s work, please check out www.amarfoundation.org or you can support AMAR’s work in Iraq, by making a solidarity donation online.

Hussein Al-alak is the editor of Iraq Solidarity News (Al-Thawra) and on the 19th May, will be taking part on the Manchester 10K, to support the AMAR Foundation’s work in education across Iraq.