Anglo-Dutch oil major Shell, which operates a major gas project in southern Iraq, is in talks with the country's new government to navigate “exceptional circumstances” following the outbreak of Covid-19, as the company relocates staff following a security breach.
"The onset of Covid-19 and global slump in oil prices are exceptional circumstances that affect Shell as well as the government of Iraq," a Shell spokesman told The National.
"We have been in discussion with our partners in the government of Iraq to find ways to navigate through these exceptional circumstances and agree plans for [Basrah Gas Company's] ongoing operations and growth projects,” he added.
The Basrah Gas Company is a joint venture between the Iraqi-state owned South Gas Company, which holds a majority stake and Shell, which has a 44 per cent interest. Mitsubishi Corporation has a 5 per cent stake.
The venture accounted for 945 million cubic feet per day of month of monthly gas production in 2018. Iraq, Opec’s second-biggest oil producer, has a gas output of around 1 billion cf/d, of which nearly three quarters is flared because there is not enough infrastructure to process it.
Projects such as the Shell venture in the south are critical for meeting Iraq’s growing need for electricity by capturing more of the gas produced in the country's southern oil fields.
Gas flaring from the southern fields has meant Iraq has lost billions of dollars in revenue over the past decade. A study by Siemens in 2018 said that Iraq could save about $5.2 billion (Dh19.1bn) over the next four years by reducing gas flared from its fields.
Despite having abundant hydrocarbon resources, Iraq is still dependent on the import of gas and electricity from neighbouring Iran. Rehabilitating the country’s power infrastructure, ravaged by decades of war, is another top priority for the government.
Shell confirmed that a “security breach” at an accommodation camp resulted in the relocation of all Shell secondees.
"All staff and contractors are safe and BGC production is not impacted. Shell staff will continue to work remotely in their BGC roles,” the spokesman said.
There is no “short-term impact” on the JV’s ability to operate or on its production levels, he said.
The spokesman declined to comment on reports that 60 foreign workers had been evacuated from the country.
Multinational companies and oil majors working in Iraq have faced multiple challenges arising from unrest within the country or geopolitical tensions that have flared up over the past year.
The US pulled oil workers from Iraq earlier this year following Washington’s assassination of Qassem Soleimani, Iran’s top military commander on a visit to Baghdad, which led to retaliatory strikes on US facilities in Iraq.
A number of American workers are deployed across oil sites in Iraq, where US majors Exxon Mobil and Chevron operate large fields.
In May last year, Exxon withdrew around 60 workers, mostly US nationals, after Washington ordered non-emergency personnel to leave Iraq, citing unspecified threats.
Ahmed Tabaqchali, chief investment officer at the AFC Iraq Fund and a fellow at the Kurdistan-based Institute of Regional and International Studies, said the latest incident impacting foreign workers was different.
"American companies tend to react extremely quickly to any questions of risk while European companies are different, so the two cases are not comparable,” he said.
"Exxon was in response to rocket attacks and so forth … and this has been different because if we read the story so far, it’s about delayed payments. Until we get to the bottom of it, what exactly happened, it’s difficult to answer,” he added.
Iraq’s new government has been formed under the leadership of Mustafa Al Kadhimi, a former intelligence officer supported by the US, after nearly six months of political deadlock.
Iraq's appointments for interior and defence ministers both come from the country's armed forces, Mr Tabaqchali said.
"That tells you what they’re focused on and that’s not only for the protection of foreign workers, but to be sure, protection of everybody else, because when you have militias interfering, you have disruptions,” he said.
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
RESULT
Manchester United 1 Brighton and Hove Albion 0
Man United: Dunk (66' og)
Man of the Match: Shane Duffy (Brighton)
Results:
5pm: Baynunah Conditions (UAE bred) Dh80,000 1,400m.
Winner: Al Tiryaq, Dane O’Neill (jockey), Abdullah Al Hammadi (trainer).
5.30pm: Al Zahra Handicap (rated 0-45) Dh 80,000 1,400m:
Winner: Fahadd, Richard Mullen, Ahmed Al Mehairbi.
6pm: Al Ras Al Akhdar Maiden Dh80,000 1,600m.
Winner: Jaahiz, Jesus Rosales, Eric Lemartinel.
6.30pm: Al Reem Island Handicap Dh90,000 1,600m.
Winner: AF Al Jahed, Antonio Fresu, Ernst Oertel.
7pm: Al Khubairah Handicap (TB) 100,000 2,200m.
Winner: Empoli, Pat Dobbs, Doug Watson.
7.30pm: Wathba Stallions Cup Handicap Dh80,000 2,200m.
Winner: Shivan OA, Patrick Cosgrave, Helal Al Alawi.
The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
Wydad 2 Urawa 3
Wydad Nahiri 21’, Hajhouj 90'
Urawa Antonio 18’, 60’, Kashiwagi 26’
Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
South Africa squad
: Faf du Plessis (captain), Hashim Amla, Temba Bavuma, Quinton de Kock (wkt), Theunis de Bruyn, AB de Villiers, Dean Elgar, Heinrich Klaasen (wkt), Keshav Maharaj, Aiden Markram, Morne Morkel, Chris Morris, Wiaan Mulder, Lungi Ngidi, Duanne Olivier, Vernon Philander and Kagiso Rabada.
England's lowest Test innings
- 45 v Australia in Sydney, January 28, 1887
- 46 v West Indies in Port of Spain, March 25, 1994
- 51 v West Indies in Kingston, February 4, 2009
- 52 v Australia at The Oval, August 14, 1948
- 53 v Australia at Lord's, July 16, 1888
- 58 v New Zealand in Auckland, March 22, 2018
The biog
Name: James Mullan
Nationality: Irish
Family: Wife, Pom; and daughters Kate, 18, and Ciara, 13, who attend Jumeirah English Speaking School (JESS)
Favourite book or author: “That’s a really difficult question. I’m a big fan of Donna Tartt, The Secret History. I’d recommend that, go and have a read of that.”
Dream: “It would be to continue to have fun and to work with really interesting people, which I have been very fortunate to do for a lot of my life. I just enjoy working with very smart, fun people.”
The story in numbers
18
This is how many recognised sects Lebanon is home to, along with about four million citizens
450,000
More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps
1.5 million
There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m
73
The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association
18,000
The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme
77,400
The number of people believed to be affected by the current nationality law, according to the 2009 UN study
4,926
This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee
MATCH INFO
Europa League semi-final, second leg
Atletico Madrid (1) v Arsenal (1)
Where: Wanda Metropolitano
When: Thursday, May 3
Live: On BeIN Sports HD
MATCH INFO
Europa League final
Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports
From Conquest to Deportation
Jeronim Perovic, Hurst
Try out the test yourself
Q1 Suppose you had $100 in a savings account and the interest rate was 2 per cent per year. After five years, how much do you think you would have in the account if you left the money to grow?
a) More than $102
b) Exactly $102
c) Less than $102
d) Do not know
e) Refuse to answer
Q2 Imagine that the interest rate on your savings account was 1 per cent per year and inflation was 2 per cent per year. After one year, how much would you be able to buy with the money in this account?
a) More than today
b) Exactly the same as today
c) Less than today
d) Do not know
e) Refuse to answer
Q4 Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”
a) True
b) False
d) Do not know
e) Refuse to answer
The “Big Three” financial literacy questions were created by Professors Annamaria Lusardi of the George Washington School of Business and Olivia Mitchell, of the Wharton School of the University of Pennsylvania.
Answers: Q1 More than $102 (compound interest). Q2 Less than today (inflation). Q3 False (diversification).
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
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The%20end%20of%20Summer
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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