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.“
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.
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.
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.
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.
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.
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.