Saturday, November 17, 2018

Tag "Iraq"

    328 killed in Iran-Iraq earthquake

328 killed in Iran-Iraq earthquake

At least 328 people have reportedly been killed in a 7.3 magnitude earthquake that rocked Iranian and Iraqi border on Sunday night.Iran’s semi-official Isna news agency raised the death toll to 328 on Monday morning, after a quake struck the country’s western provinces at 9.20pm local time on Sunday.Local officials said the death toll would rise as search and rescue [...]

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    OPEC may ask Nigeria to cut oil production, Iraqi minister signals

OPEC may ask Nigeria to cut oil production, Iraqi minister signals

Jabar Ali al-Luaibi, Iraq’s oil minister, has signalled that Nigeria and Libya may be asked to cut oil productions in the new supply cut deal to be reached by the Organisation of Petroleum Exporting Countries (OPEC).Speaking at a press conference in Baghdad, Al-Luaibi expressed Iraq's readiness to join Saudi Arabia and Russia in the proposed extension of the oil deal [...]

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    ISIS ‘loses most of Iraqi territories’ it controlled for years

ISIS ‘loses most of Iraqi territories’ it controlled for years

The Islamic State (ISIS) has lost most of the territories it held in Iraq after years of battles by Iraqi security forces to dislodge the extremist group from their strongholds in the country.Yahya Rasool, Iraqi army spokesperson, told a news conference that ISIS now controls only 6.8 per cent of Iraq’s territory from the 40 per cent it controlled as [...]

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    OPEC deal improves to 94% compliance level, says Barkindo

OPEC deal improves to 94% compliance level, says Barkindo

Mohammed Barkindo, the secretary-general of the Organisation of Petroleum Exporting Countries (OPEC) says the historic oil cut deal reached in 2016 has attained a 94 percent compliance level.This is an improvement from 86 percent recorded earlier in the year, Barkindo told his audience at the third Iraq Energy Forum in Iraq."The focus now is on the implementation of these production adjustment [...]

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    Hawaii files lawsuit against Trump’s new travel ban

Hawaii files lawsuit against Trump’s new travel ban

The US state of Hawaii has filed a lawsuit against President Donald Trump’s new travel ban in a federal court, Honolulu.In a statement, Doug Chin, Hawaii attorney general called the new executive order "nothing more than Muslim Ban 2.0".Chin said, “under the pretense of national security, it still targets immigrants and refugees.“It leaves the door open for even further restrictions. Our [...]

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    Mo Farah: Queen made me a knight, Trump made me an alien

Mo Farah: Queen made me a knight, Trump made me an alien

Sir Mo Farrah, a British-Somali athlete, has condemned Donald Trump’s decision to ban Muslims from seven countries from travelling to the US.Farah described the new policy by the US President as "ignorant and prejudiced".He said he'd have to tell his kids that he might not be able to come home from his training camp in Ethiopia.Farah was born in Somalia [...]

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    Iraq and Syria have ‘direct bearing’ on the growth of Boko Haram

Iraq and Syria have ‘direct bearing’ on the growth of Boko Haram

A civil society organisation, Stand Up Nigeria (SUN), has alleged that the insecurity in Iraq and Syria have a direct bearing on the growth of the Boko Haram sect.Christie Amor, SUN’s director of public affairs, said this at a press conference in Abuja.She said Amnesty International allegedly played "damaging roles" in both countries, and is now targeting Nigeria.“In early 2011, [...]

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    ISIS fighter wipes out family in accidental suicide blast

ISIS fighter wipes out family in accidental suicide blast

A teenager recruited by the Islamic State for the battle in the Iraqi city of Mosul killed the whole of his six-member family when his explosive belt went off inside their home.Three children were reportedly among those killed by the unnamed boy’s explosive device.According to Alsumaria News, the boy, who belonged to the so-called ‘Cubs of the Caliphate’ squad, had [...]

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    OPEC-Russia energy dialogue positive BUT Iraq sinks oil prices

OPEC-Russia energy dialogue positive BUT Iraq sinks oil prices

Oil prices have failed to respond to the positive signals emanating from the fifth OPEC-Russia Energy Dialogue going on in Vienna, Austria, following Iraq's request to be exempted from the OPEC deal.Sanusi Barkindo, secretary-general of the Organisation of Petroleum Exporting Countries  (OPEC), who gave the opening remarks at the OPEC-Russia dialogue on Monday, said the discussion would foster a stable market."What [...]

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    Avengers’ ceasefire, increased Iraq supply trigger fall in crude oil prices

Avengers’ ceasefire, increased Iraq supply trigger fall in crude oil prices

Oil prices are currently experiencing their biggest daily fall in over a month, after Iraq’s announcement of increased supply and Niger Delta Avengers (NDA) ceasefire signals.On Saturday, NDA announced its readiness to negotiate a ceasefire with the federal government through Edwin Clark, a controversial statesman.“We are going to support any collective/negotiation team emerging from the Chief (Dr.) Papa Edwin Kiagbodo Clark [...]

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    12 newborn babies killed in fire outbreak at Iraqi hospital

12 newborn babies killed in fire outbreak at Iraqi hospital

Twelve newborn babies were killed after a fire erupted at a Baghdad hospital on Wednesday, the Iraq's health ministry said.The ministry also reported 29 women and nine babies sustained injuries in the blaze.The fire broke out in a corridor of the maternity ward of al-Yarmouk hospital, which lies in central Baghdad."Civil defence forces managed to extinguish the fire, evacuating the [...]

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    Nigeria ‘partly responsible’ for rise in oil price

Nigeria ‘partly responsible’ for rise in oil price

Nigeria, alongside Iraq and the United Arab Emirates, is responsible for the rise seen in oil prices, the International Energy Agency (IEA) has said.In its latest Oil Market Report (OMR) released on Friday, the agency said that disruption in the production levels of these three countries saw a cut in oversupply to the tune of 350,000 barrels per day.The reports revealed [...]

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    Nigeria’s oil production drops, but Iran’s rises

Nigeria’s oil production drops, but Iran’s rises

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    Oil price falls as Iraq announces production

Oil price falls as Iraq announces production

Oil prices fell by 3 per cent on Monday as Iraq announced record-high oil production feeding into a heavily over-supplied market.Iraq's oil ministry said oil output had reached a record high in December.Its fields in the central and southern regions produced as much as 4.13 million barrels a day, according to the government.The oversupply has wiped out much of the [...]

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    Despite falling oil prices, OPEC increases supply

Despite falling oil prices, OPEC increases supply

Regardless of the falling oil prices, the Organisation of Petroleum Exporting Countries (OPEC) has experienced an increase in crude oil supply to the global market.OPEC supply has increased in September to 31.68 million barrels per day (bpd) from a specially revised 31.57 million in August, 2015.The increase was traced to Iraq’s recovery, from disruption that had halted supply growth from [...]

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    Crude oil output drops to 1.96million bpd

Crude oil output drops to 1.96million bpd

Nigeria’s crude oil output dropped by about 64,000 barrels per day (bpd) to 1.89 million bpd in February 2015, from its January output of 1.96 million bpd.This was revealed in the monthly oil market report released by the Organisation of Petroleum Exporting Countries (OPEC).Despite the drop, Nigeria maintained its position as Africa’s number one oil producer in February followed by [...]

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Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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