Qatar


Asiacell Revenues Up

By John Lee.

Qatar-based Ooredoo has announced that revenue at its Asiacell subsidiary in Iraq increased 6 percent to QAR 4.5 billion, while and EBITDA increased 3 percent to QAR 2.0 billion, for the year ended 31th December 2017.

EBITDA margin was put at 44 percent.

In a statement, the company said:

A key opportunity in 2017 was restoring our network sites in the liberated areas and helping customers living there to reconnect to our services.

“As a result, Asiacell increased customer numbers by 8% to reach almost 13 million as network recovery advanced in the liberated areas in the north and west of the country.

(Source: Ooredoo)

NIDC Eyes Iraqi Drilling Market

The National Iranian Drilling Company (NIDC) is planning to participate in neighboring Iraq‘s drilling tenders.

Speaking to reported on the sidelines of an oil show in Kish Island, on Tuesday, Sepehr Sepehri, NIDC managing director, said the company’s approach is to secure itself a toehold in global markets, adding NIDC is planning to participate in international drilling tenders in Iraq.

“We have plans to join drilling projects in neighboring countries and we have started correspondences with Iraq in this regard,” the official said.

Sepehri said the two country’s access to Arvand Free Zone, favorable crude oil production capacity in Iraq’s Basra and the good terms the two neighbors are on are among the advantages of working in Iraq.

He further said that NIDC will take part in three drilling tenders that Italy’s ENI is planning to hold in Iraq.

The NIDC official added that Oman is another market the company is seeing to gain a foothold in.

“We have indicated readiness to offer services to Oman, too, and will consider the matter in more depth during a visit by an Omani delegation to Iran within the next few weeks.”

Besides drilling operations, NIDC enjoys massive potentialities in offering drilling services, the CEO added.

“After Iraq and Oman, we are targeting operations in Qatar,” Sepehri added.

(Source: Shana)

Qatar to Invest in Iraqi Oil

By John Lee.

Qatar Petroleum (QP) has confirmed that it plans to invest in Iraq’s upstream oil businesses.

President and CEO Saad Sherida Al Kaabi (pictured) told reporters:

“I have met personally with the Iraq’s Oil Minister (Jabar Al Luaibi) and have conveyed my interest in investing Iraq’s upstream business, and he welcomed that.

“Iraq is a very important country in the region. It has huge resources and needs a lot of investments to bring the country back to the prominence. It is a brotherly country, and we would like to help and assist in developing their upstream business.

The Peninsula Qatar quotes him as saying that QP is currently exploring best ways of entering the Iraqi market.

(Source: The Peninsula Qatar)

Japanese Company considers Gas Pipeline and Petchem Plant

By John Lee.

Iraq has reportedly contracted Japan’s Toyo Engineering to help build a gas pipeline to Kuwait and a petrochemical plant as Baghdad.

According to a report from Reuters, the move will help Iraq to reduce flaring and finish paying the reparations owed to Kuwait for the invasion in 1990.

The project would allow Kuwait to reduce its dependency on Qatar as a supplier of gas; deliveries could begin as early as 2019.

It would also deal a blow to Shell, which aimed to be the dominant gas player in Iraq before relations with Baghdad soured following it’s planned exit from the Majnoon oil project.

Toyo told Reuters that talks are ongoing and a final decision has not yet been made.

(Source: Reuters)

Asiacell Revenues Boosted by Mosul Liberation

By John Lee.

Asiacell Iraq has announced 4 percent growth in revenues from QAR 2.1 billion ($570 million) in H1 2016 to almost QAR 2.2 billion ($600 million) in H1 2017.

The customer base increased 13 percent to reach more than 12 million customers in H1 2017.

EBITDA decreased by 3 percent and stood at QAR 972 million due to network investments to accommodate high data demand as well as reconnection cost in the liberated areas.

According to a statement from the company’s Qatar-based owner Ooredoo, growth was stimulated by improvements in the political situation. “With further areas in Mosul being liberated during the first half of the year, network reconnection helped to drive the increase in customer numbers,” it said.

(Source: Ooredoo)

Abadi: Qatari ‘Ransom’ Money with Us, not Armed Groups

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

Iraq’s prime minister has rejected Saudi and UAE media claims that a $500m ransom was paid by Qatar to Shia Muslim armed groups in Iraq to secure the release of 26 kidnapped Qatari hunters.

Haider al-Abadi said that money was received by the Iraqi government but the sum was still in the Iraqi central bank.

Al Jazeera’s Alan Fisher reports:

$500m Cash Intercepted at Baghdad Airport

By John Lee.

Officials at Baghdad International Airport have reportedly intercepted a shipment of dollars and euros worth a total of $500m (£389m).

Writing in The Independent, Patrick Cockburn claims the cash was contained in 23 large bags unloaded from a Qatari plane, and was intended as a ransom for 24 Qataris, several of them leading members of the Qatari royal family, who were kidnapped 16 months ago by a Shia militia task force.

Although the funds were seized by the authorities, the Qataris were subsequently released from captivity.

The full story can be read here.

(Source: The Independent)

Asiacell Revenues Fall 14%

By John Lee.

Qatar-based Ooredoo has announced that its Iraqi unit Asiacell has maintained its No.1 revenue market share position, but its revenues have fallen 14 percent:

In its FY 2016 Earnings Statement the company said:

Despite economic and political challenges in Iraq, Asiacell maintained its revenue and data market leadership. Asiacell successfully reactivated service and rolled out its 3G network to stabilised areas of Iraq. Customer numbers increased by 11% to reach 12 million.

Impacted by the overall challenging business environment and the introduction of a sales tax in August 2015, Asiacell’s FY 2016 Revenue decreased 14% to QAR 4.2 billion, down from QAR 4.9 billion.  

“Due to cost optimisation initiatives EBITDA was less impacted, registering QAR 1.9 billion at 2016, down 10% over 2015.

Earlier this week, rival mobile telco Zain announced an 11-percent decline in revenues.

(Source: Ooredoo)

IHH Sends 22 Aid Trucks to Northern Iraq

The Turkish-based IHH humanitarian relief organization — in collaboration with Qatar Khairiyah Organization and Munazamah Dawah Islamiyah Qatar office — has sent 22 trucks loaded with emergency aid supplies to Northern Iraq.

The trucks carrying 30,000 blankets, 7,500 straw mats, 1,250 flasks, 150 tons of bulgur, 75 tons of pasta, 50 tons of flour, and 6,600 mattresses will make a stop-over in IHH’s Kilis coordination center. The aid campaign also involves the purchase and distribution of 750 stove heaters and 175,000 liters of gasoline for them in the region.

IHH Vice President Hasan Aynacı, commenting on the 22 aid trucks headed to Iraqs said:

“I would like to thank Khairiyah Organization and Dawah Islam Organization for their support to the humanitarian aid convoy. Just like how we went to help our Kurdish brothers in Sulaimaniyah before, how we went to help our Arabic brothers in Fallujah, how we went to help our Turkmen brothers in Kirkuk, today we will help our brothers from Mosul among whom are Arabs, Kurds and Turkmens. We cannot remain deaf to their cry for help.”

IHH Humanitarian Relief Organization has previously delivered 6,000 blankets to internally displaced people from Mosul.

(Source: IHH)