A recent article by Deloitte suggests a number of strategies that asset management companies need to adopt, if they are to rise above the challenges of current environment. Among those suggested include restructuring product portfolios, streamlining operations, and offering digital-inspired customer experiences — especially since Millennials comprise an increasingly-significant portion of the asset management marketplace.…
Iraq’s Ministry of Oil has announced initial oil exports for December of 88,211,750 barrels, giving an average for the month of 2.846 million barrels per day (bpd), down from the 2.709 million bpd exported in November. These exports from the oilfields in central and southern Iraq amounted to approximately 85,195,608 barrels, while exports from Kirkuk…
Iraq has reportedly awarded a Chinese company a deal which would see it paying $2 billion upfront for a year’s supply of oil. Alaa al-Yasiri, General Manager of State Oil Marketing Organization (SOMO) told Iraqi News Agency (INA) that a Chinese company had won the contract ahead of a European company, but did not identify…
Iran’s Minister of Energy has said that a euro account is to be opened in Baghdad so that Iraq can pay its debts to Iran for electricity and natural gas purchases. IRNA reports that Reza Ardakanian added that the same account can be used for Iraq’s debts to Iranian private sector companies. (Source: IRNA)
Gulf Keystone Petroleum (GKP) has announced the appointment of Jon Harris as Chief Executive Officer (CEO). Mr Harris has over 30 years’ experience in the oil and gas industry and joins GKP from SASOL Limited, an integrated energy and chemicals company based in South Africa where he was Executive Vice President, Upstream. Prior to this,…
ShaMaran Petroleum has announced that the January 2021 interest payment due on its 12% senior unsecured bonds due 2023 (ISIN: NO 001082645.6) has been timely made to all Bondholders. In addition, ShaMaran said the Atrush field total cumulative crude oil production has exceeded 40 million barrels. The Atrush field is located 85 km northwest of…
Iraq’s nationwide monthly exports increased by more than 5 percent in December, to 3.304 million barrels per day (bpd), ending a year that saw annual oil exports and revenues drop to multi-year lows. Federal Iraq’s oil exports averaged 2.997 million bpd in 2020* – a 15 percent annual drop due to the OPEC-plus agreement. Annual…
Washington’s foreign relations in the Middle East are often characterized by ebb and flow, tracking the region’s dynamic politics. But when it comes to Iraq, this ebb and flow is especially turbulent. Events surrounding the assassination of Iranian Gen. Qassem Soleimani, the head of the Islamic Revolutionary Guard Corps Quds Force, at the beginning of…