Cursor International executes projects and collaboration activities across several industries.
By John Lee.
France’s Total is reported to be in talks to sell its 18-percent stake in the Sarsang block in Iraqi Kurdistan, in a move aimed at reducing the company’s debt.
Bloomberg says the company is working with Jefferies Financial Group on the deal, adding that the holding could be worth as much as $500 million.
(Source: Bloomberg)
The post Total “in Talks” to Sell Stake in Iraqi Oil Field first appeared on Iraq Business News.
By John Lee.
Turkish engineering firm Ergil has completed the design, engineering and fabrication of a pig launcher and pig receiver system at Iraq’s Majnoon oil field.
According to Wikipedia: “In pipeline transportation, pigging is the practice of using pipeline inspection gauges, devices generally referred to as pigs or scrapers, to perform various maintenance operations. This is done without stopping the flow of the product in the pipeline. These operations include but are not limited to cleaning and inspecting the pipeline.“
Ergil is owned by German company Äager.
(Source: Aager)
The post Ergil completes Pigging System at Majnoon first appeared on Iraq Business News.
How China Took Control Of Exxon’s Supergiant Iraqi Oilfield
Recent reports suggest that Chinese oil giants China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are “considering acquiring” U.S. oil titan ExxonMobil‘s 32.7 per cent stake in Iraq’s supergiant West Qurna 1 oil and gas field.
Writing in Oil Price, Simon Watkins says these reports are missing the point.
Click here to read the full story.
The post How China “Took Control” of Exxon’s Iraqi Oilfield first appeared on Iraq Business News.
From the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.
The Prospects Of Establishing A Sovereign Wealth Fund In Iraq
Throughout history, financial crises have been met with innovative reform plans that help develop the resilience of a country’s economic system, except when it comes to Iraq.
All major oil producing countries have developed sovereign wealth funds to help mitigate the effects of potential price drops on their economies, but Iraq has yet to do so.
This has not only resulted in temporary budgetary issues for Iraq, but has also allowed serious economic challenges to become entrenched in both the political and social structures of the country.
A first glance at the current economic crisis would suggest the need for a sovereign wealth fund (SWF) to overcome the impact of oil price drops.
However, Iraq’s economic challenges stem from legacy issues. Therefore, can a SWF help alleviate these historical challenges and bring about reform?
In effect, can a tool for financial diversification become a means for political and socio-economic reform?
Click here to read the full report by Mohammed Hussein Baraka.
The post Establishing a Sovereign Wealth Fund in Iraq first appeared on Iraq Business News.
UNICEF receives 26 million from Germany to support national systems and ensure vulnerable children in Iraq receive quality basic and social protection services in Iraq
The German Government, through its Development Bank, the Kreditanstalt für Wiederaufbau (KfW), has contributed 26 million Euros to UNICEF in order to help the agency in its ongoing efforts to assist the Government of Iraq in strengthening its systems and improve access to quality basic services and social protection for children and their families.
This latest amount brings the German Government’s total contributions to UNICEF Iraq to a total of 159 million Euros since 2015.
Vulnerable children and their families in Iraq are disproportionately affected by the lack of safe water, education, and social protection. The needs of the poorest have become even more acute as a result of the COVID-19 pandemic and its secondary impacts, such as disruption in schools and health services, and rights violations, as well as rising poverty, all diminish the chance of vulnerable children to realize their basic rights to survive, be protected, and continue learning.
In light of the scale of the pandemic’s effect particularly on children and their families, the German Government has reserved 6 million Euros exclusively for measures addressing COVID-19 related activities such as the Risk Communication and Community Engagement (RCCE) and the Infection Prevention and Control (IPC).
“This funding has come in at a critical time, when we should be doing all that we can to limit the effects of the pandemic on all children, especially the most vulnerable. Thanks to our German partner, we are able to scale up our efforts to support the Government of Iraq to strengthen national systems’ ability to respond and provide better quality and coordination of the basic services that it provides, public social protection for children and their families, and help to train educators, counsellors and other professionals working with children,” explained Hamida Lasseko, UNICEF’s Representative in Iraq.
For his part, the German Ambassador to Iraq, His Excellency Dr Ole Diehl (pictured), emphasized that the international community can only win the battle against the COVID-19 pandemic by working together.
“Germany continues to support Iraq in its fight against COVID-19. This is why we have launched an extensive global COVID emergency program, under which also a sizeable COVID-19 response window is allocated for Iraq and our contribution assigned to this program respectively. Good health and sanitary infrastructure are paramount to contain the virus. More importantly, every one of us needs to take part in the fight against Corona by wearing masks, keeping up social distancing and observing rules of basic hygiene.”
Since the pandemic broke, the number of children and adolescents who risk falling into poverty has doubled, from one out of five children and adolescents to over 2 out of every 5. Children and adolescents, who make-up more than half of the population in the country, are also the most at risk of experiencing poverty, service disruptions in critical basic services like primary health, water sanitation and hygiene, education and increase in rights violations.
“Investing in one’s children is the best investment any nation can make. The Iraqi government needs our support to further develop its technical capacities, strengthen its systems, and deliver for its children. We are especially appreciative of the support of our German partner at this critical time when we are working with the Government to enhance its ability and systems to deliver better education, health services, water, sanitation and protection for every boy and girl in Iraq,” added Ms. Lasseko.
There are 1.77 million people in need of humanitarian assistance and another 1.5 million who remain displaced and therefore exposed to higher risks of deprivation, violence and exploitation. The project which will be rolled out over 18 months, will target such populations.
The project focuses on long-term sustainability by strengthening national systems and capacities to provide integrated access to safe water, education and health services, protection, and social assistance, with the goal of enabling children to overcome poverty, practice their rights and fulfil their potential.
It will be implemented at the Federal level and in the Kurdistan Region of Iraq, in partnership with the Ministries of Labour and Social Affairs, the Education, the Directorates of Education at sub-national levels, and national and international Civil Society Organisations.
(Source: UN)
The post Germany supporting Vulnerable Children in Iraq first appeared on Iraq Business News.
By John Lee.
Genel Energy has announced that, following first oil production last week, first liftings have taken place from the Sarta field (Genel 30% working interest).
According to a statement from the company, the Sarta-3 well is producing at an initial rate of over 5,000 bopd, with an API gravity of c.27 degrees, in line with expectations at this stage.
Tanker loadings are now underway, with oil being transported to Khurmala for offloading into the export pipeline.
(Source: Genel Energy)
The post Liftings underway at Sarta first appeared on Iraq Business News.
By John Lee.
Iraq’s Ministry of Oil has announced initial oil exports for November of 81,262,376 barrels, giving an average for the month of 2.709 million barrels per day (bpd), down from the 2.876 million bpd exported in October.
These exports from the oilfields in central and southern Iraq amounted to approximately 78,190,444 barrels, while exports from Kirkuk amounted to 2,819,169 barrels. Exports to Jordan were 252,763 barrels.
Revenues for the month were $3.395 billion at an average price of $41.778 per barrel.
October‘s export figures can be found here.
(Source: Ministry of Oil)
The post Iraq cuts Oil Exports in November first appeared on Iraq Business News.
By John Lee.
UAE-based Dana Gas has announced that the production of sales gas from Pearl Petroleum‘s Khor Mor Gas Plant in the Kurdistan Region of Iraq (KRI) reached a record level of 418MMscf/d on 18 November 2020.
Dana Gas, which owns a 35% stake in Pearl Petroleum, registered a 6% year on year increase in production during the third quarter of 2020 to 32,400 boepd, driven by the completion of a new plant bypass project in August.
Dr Patrick Allman-Ward, CEO of Dana Gas, commented:
“We are very pleased that Pearl Petroleum has achieved this important milestone at Khor Mor, which is the result of our continued efforts to maximise plant production. This important achievement, delivered under difficult conditions due to the global pandemic, was the result of the installation of the plant bypass in August combined with an increase in gas demand due to seasonal weather conditions.
“It is also testament to the tireless efforts of our staff at the plant to optimise plant efficiencies and reliability.
“We are also very pleased to announce that after a delay in the implementation of the first 250 MMscf/d gas processing train following border closures and travel restrictions resulting from COVID-19, that we anticipate recommencing civil engineering works on location in the next few weeks.
“All the parties working on the Khor Mor project are fully committed to executing the expansion project as quickly and as safely as possible. We now expect first gas from the project’s first gas processing train in Q1 2023 and we are also examining ways to reduce the schedule further. When implemented, the project is expected to add between $175 million and $200 million annually to Dana Gas’s revenues.“
(Source: Dana Gas)
The post Dana Gas announces Record Gas Deliveries for Khor Mor first appeared on Iraq Business News.
More than 1.9 million Iraqi children in high risk governorates to be vaccinated against polio
On Sunday, Iraqi health authorities, in partnership with the World Health Organization (WHO) and UNICEF began a mass polio vaccination campaign targeting more than 1.9 million children under the age of five.
The campaign will be conducted in locations across Iraq, despite the ongoing COVID-19 pandemic which, like previous disease outbreaks and humanitarian emergencies has disrupted access to essential health services, including routine immunization. The campaign is urgent because even brief interruptions of vaccination programmes leave cohorts of infants unprotected, making outbreaks of vaccine-preventable diseases, like polio and measles more likely.
“The complexity of ensuring that children in Iraq remain safe from vaccine-preventable diseases while at the same time responding to COVID-19 is enormous, but we must continue to do all that we can to protect children against avoidable suffering and death caused by vaccine-preventable disease. WHO and its partners are working past the COVID-19 challenges by ensuring continuity of vaccination efforts against childhood threats such as polio” said Dr Adham Ismail, WHO Representative for Iraq.
“The Oral polio vaccine will be safely delivered both door to door and at fixed points in health facilities to ensure that we reach all children under the age of five regardless of their previous vaccination status. We want to make sure that no no child is left behind, no matter where they are,” added Dr Adham.
WHO supported the development of micro plans to guide vaccination teams day by day, mobilized and trained 862 supervisors and more than 4294 vaccinators to carry out the campaign. In addition, it is also paying all the vaccination costs including transportation and other incentives to ensure that all children are reached.
In order to ensure that the appropriate precautions are taken to maintain COVID-19 infection prevention and control (IPC) during the campaign, UNICEF trained all vaccinators in IPC skills and equipped many of them with personal protective equipment in order to ensure their safety and the safety of the target communities.
In addition, UNICEF donated the entire stock of polio vaccines for the campaign and has provided the equipment needed to keep vaccine doses at the right temperature, thereby ensuring their effectiveness. It also developed educational materials such as informational videos and posters, to raise awareness about the importance of immunization and encourage caregivers to vaccinate children. In addition, UNICEF trained 400 community volunteers to raise awareness, track rumours, and counter misinformation with accurate information about the vaccine and its benefits.
“Along with our partners in government, we have a responsibility to make sure that communities are engaged, aware that vaccines are the most cost-effective and safe way of protecting children against many diseases, and that they are mobilized to participate in vaccine delivery programmes. Every child born has a right to a healthy life,” explained Ms Hamida Lasseko, UNICEF’s Representative in Iraq.
The five-day campaign will target children in 46 districts in sixteen governorates, including Baghdad (Baghdad-Resafa and Baghdad-Karkh), Babylon, Anbar, Dahuk, Erbil, Kerbala, Kirkuk Missan,Muthanna, Thi-Qar, Najaf, Ninewa, Salah Al-Din , Suleymaniya, Wassit and Basra. The locations were selected based on the health risks of children in each, polio surveillance indicators, children’s immunisation profiles and existing gaps. Other factors considered included the population numbers, geography and environmental risks.
(Source: UN)
The post 1.9m Iraqi Children to be Vaccinated against Polio first appeared on Iraq Business News.
Statement from the United Nations Resident and Humanitarian Coordinator, Irena Vojackova-Sollorano (pictured), on IDP camp closures in Iraq:
I am gravely concerned about the thousands of civilians who have been moved from camps for Internally Displaced Persons (IDPs) in Iraq in the last six weeks and have not yet found new homes.
The Government of Iraq has closed or consolidated 11 such camps and reclassified two as informal sites since mid-October, affecting more than 27,000 people. An estimated 78 per cent of those are women and children who were already vulnerable. Their wellbeing is of particular concern in light of the continuing COVID-19 pandemic and the onset of winter.
This is not about camp closures. It is about what will happen to those Iraqis, their safety, their wellbeing and their future. Two-thirds of affected people have reached their district of origin, but many are not in their traditional homes, according to United Nations data. About 30 per cent of those returnees do not have safe or dignified housing and remain highly vulnerable.
The other one- third of people affected have been unable to return to their places of origin. Social tensions and insecurity, the presence of unexploded ordnances and explosive remnants of war, and the lack of civil documentation, housing, services, cash assistance and livelihood opportunities remain barriers to their return.
I am also concerned by indications that more Iraqi families could face similar situations if the remaining five camps administered by the Government of Iraq are closed before the end of the year. The United Nations shares the Government’s goal of ending the displacement crisis in Iraq but reiterates that the return of internally displaced people needs to be voluntary, safe, dignified, and informed, with conditions in place in advance in their areas of origin to enable reintegration and ensure sustainable solutions.
The United Nations stands by its commitment to support the Government of Iraq in facilitating and achieving longer term durable solutions for all vulnerable displaced and returnees in Iraq, including by supporting social cohesion measures.
Vulnerable displaced populations need more active support to rebuild their lives in dignity and in accordance with the fundamental standards of human rights. They need a suitable environment for a sustainable return and structured support programmes towards durable solutions. It is essential to continue the efforts to build the resilience of communities hosting IDPs as well as those receiving returnees.
Supporting these populations contribute to Iraq’s future stability and success. Together with our national and international humanitarian partners, we are closely following the matter, will continue to support and stand ready to provide further assistance when required, in accordance with humanitarian principles.
(Source: UN)
The post UN “Gravely Concerned” about IDP Camp Closures first appeared on Iraq Business News.