#Iraq

Iraq to oppose new OPEC+ oil production cuts

Iraq won’t agree to new OPEC+ oil production cuts, oil minister says

Iraq has repeatedly said it is committed to voluntary cuts but pumped over its output quota by a cumulative 602,000 bpd

UAE

Iraq, Turkey, Qatar, UAE sign preliminary deal for $17bn Development Road project

The project will establish a vital connection between Iraq’s Grand Faw Port in the south, renowned for its oil resources, and Turkey in the north

Oil hovers near 3-week high on Middle East tensions

OPEC+ producers extend oil output cuts to second quarter

The oil demand outlook is uncertain for this year but OPEC expects another year of relatively strong demand growth of 2.25 million bpd

oil

UAE’s Crescent, Iraq launch deals to develop three oil and gas fields

The Crescent Petroleum contracts are expected to begin producing 400 million standard cubic feet per day of natural gas within 18 months

Wizz Air Abu Dhabi (Image: Supplied by Wizz Air Abu Dhabi)

Wizz Air Abu Dhabi commences flights to Erbil

The twice-weekly services operate every Monday and Friday

TotalEnergies, Iraq deal

Iraq, TotalEnergies to proceed with $27bn energy project

The energy project aims to recover flared gas on three oil fields in order to supply power plants and build a seawater treatment plant to increase oil production

Oil prices surges after OPEC+ cuts

Oil surges after OPEC+ makes unexpected crude production cut

Oil prices surged after OPEC+ pledged to make production cuts starting next month that will exceed one million barrels a day

Smartphone market

Is the region’s smartphone market expected to grow in 2023?

The competition remains stiff in the coming years, especially for emerging brands

Air Arabia Abu Dhabi

Air Arabia Abu Dhabi to launch direct flights to these Iraqi cities

The carrier currently serves a total of 31 destinations from Abu Dhabi International Airport

COP28

COP28 chief’s Sultan Al Jaber begins global tour

Nations should aim to raise spending on technologies including carbon capture, nuclear power and hydrogen, according to Al Jaber

Aster

Aster DM Healthcare, Faruk Medical City sign contract to develop healthcare services in Iraq

Through this partnership, doctors from Aster will visit FMC’s facilities to consult and provide surgical services which are not locally available

Oil heads for worst losing run since 2020 on slowdown concerns

Commodities including oil have also faced a headwind this month from gains in the dollar

Emirates flights

Dubai carriers Emirates, flydubai cancel flights to and from Iraq

The carriers have cancelled flights scheduled for August 30 and 31

Tourist project

In pics: UAE President, regional leaders inspect tourism project in Egypt

The leaders were briefed about the five-star hotel which features several tourist facilities

First Abu Dhabi Bank to open representative office in Iraq

The UAE is one of Iraq’s most important trading partners, with the value of exported goods totalling over $13.11bn in 2020

OPEC+ agrees on another gradual oil-output hike for March

Oil prices soared to a seven-year high above $90 a barrel last month, stirring expectations of a return to triple-digits

Power Letters 2022: Mohammad A. Baker, deputy chairman and CEO, GMG

Whether it is acquiring new international brands or developing homegrown concepts, when an opportunity presents itself, we go after it

Dana gas

Dana Gas reports 2021 collections from Egypt and Kurdistan of $377m

It marked a 107 per cent year-on-year rise over the $182m it received in 2020

UAE retailer GMG gets Nike distribution rights for Egypt, Iraq

GMG will become the official distributor partner for Nike in Egypt by June 2022, covering everything from brand management to retail and distribution

Expo 2020 Dubai pavilions: Morocco, Korea, Romania, Ghana, Croatia, Iraq, Venezuela, Botswana

Here’s a list of eight participating country pavilions and their offerings

Abu Dhabi’s Masdar signs agreement to develop solar projects in Iraq

Iraq is aiming to increase the percentage of renewables to 20-25 per cent in its power production capacity by the end of the decade

Iraq agrees to sign deal with Total to execute energy projects

Total, after signing the deal, will also build a 1,000 megawatt solar power plant

Dubai’s Drake & Scull International bags contracts of over Dhs376m

DSI is also bidding for a Dhs260m project in Kuwait and for projects valued at Dhs1.49bn in Iraq

UAE announces $3bn investment in Iraq

The joint statement came at the conclusion of the official visit by Iraqi Prime Minister Dr. Mustafa Al Kadhimi to the UAE

Talabat to launch operations in Iraq

The company will initially launch operations in Erbil, Iraqi Kurdistan early next year, before expanding into Federal Iraq

Oil slides from five-month high on cloudy demand outlook

OPEC+ also warned at a meeting on Wednesday that the pace of the demand rebound was slower than expected

Saudis keep pressure on OPEC cheats before ministerial talks

Riyadh’s struggle to enforce compliance has been a long-running issue

OPEC readies next move in bid to avoid oil-market taper tantrum

While oil prices have recovered to $43 a barrel in London, from a two-decade low of $15.98 in late April, sentiment in the market remains fragile

OPEC cuts output to lowest since 1991 as virus slams oil demand

The Organization of Petroleum Exporting Countries cut production by 1.93 million barrels a day to 22.69 million a day last month

Abu Dhabi City United Arab Emirates

UAE’s Taqa to offer more shares in asset-transfer deal

Taqa has 23 gigawatts of power-generation capacity globally, with assets in Canada, Ghana, India, Iraq, the US and several other countries