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Shafaq News
17-07-2025
- Business
- Shafaq News
Drone escalation: Is the Kurdistan Region's economy at risk?
Shafaq News A recent wave of drone attacks has dealt a serious blow to the Kurdistan Region's oil sector, triggering shutdowns and placing vital infrastructure under growing strain. The most recent incident occurred early Thursday, when an explosive-laden drone struck the Bahrka subdistrict in Erbil province. No casualties were reported. The night before, another drone targeted the Baadre oil field in Sheikhan district, sparking a large fire and forcing a halt in operations. That strike followed a series of earlier attacks in Duhok province, where the Tawke and Bishkabour oil fields—both operated by Norwegian firm DNO—were hit, along with a US-managed site in Malperkeh. While no injuries have been reported across the incidents, damage to equipment and facilities has been confirmed, raising concerns about operational safety and infrastructure resilience. These attacks were preceded by repeated strikes on the Khurmala and Sarsang fields on Monday, bringing the total number of drone incidents to at least nine in less than a week. On Tuesday morning, three additional sites—Peshkabir, Tawke, and a Hunt Oil installation—came under fire within a 90-minute window, deepening the disruption to production. Output in Freefall In the aftermath of the strikes, operators including DNO ASA and Gulf Keystone Petroleum moved swiftly to suspend operations. Tawke, Peshkabir, and Shaikan—the Kurdistan Region's most productive oilfields—remain offline. Acknowledging the gravity of the threat, the Kurdish Ministry of Natural Resources called on all operators to conduct urgent safety assessments, as fears over infrastructure vulnerability continue to mount. Before the attacks, oil production in the Kurdistan Region hovered between 285,000 and 300,000 barrels per day in 2024. The strikes have cut output by an estimated 140,000 to 150,000 barrels daily—nearly half of the total volume. Peshkabir, producing roughly 49,500 barrels per day, alongside Tawke at about 29,150 and Sarsang at approximately 30,000, collectively contribute over 108,000 barrels daily. These three fields alone represent close to 6% of Kurdistan's projected 1.8 million barrels per day output this year. Oil revenues remain the cornerstone of the Region's economy, generating more than $4 billion last year, with nearly $2 billion retained after deductions. Based on current Brent prices, a daily loss of 150,000 barrels equates to roughly $3.8 million in missed income—amounting to over $1.1 billion per month. Even a more cautious estimate of 140,000 barrels per day results in a weekly shortfall of around $70 million, intensifying pressure on Erbil's budget. 'This is a direct hit to Kurdistan's economy,' oil expert Dr. Kovend Sherwani told Shafaq News, emphasizing that some fields have ceased production entirely and the full extent of damage remains under assessment. Sherwani also interpreted the timing of the attacks as a calculated message, stressing that 'They come just days after Baghdad signed a deal with an American company to develop Iraq's Hamrin field. It's a hostile signal against foreign, especially US, investment in Iraqi oil.' Voices of Outrage The Association of the Petroleum Industry of Kurdistan (APIKUR) warned that the attacks endanger both Iraqi and expatriate workers, stressing that the authorities in Baghdad and Erbil to enhance protection for personnel and critical infrastructure. On the political front, the Kurdistan Region Presidency described the strikes as a serious threat to sovereignty and investment. 'This is a dangerous escalation that targets the Region's stability and its partnerships,' the presidency noted, urging Baghdad to take decisive steps. Iraq's presidency echoed that position, cautioning that repeated violations put national security and the public interest at risk. Moreover, Prime Minister Mohammed Shia al-Sudani ordered an immediate investigation, directing the reinforcement of air defense and radar systems. Despite mounting international and regional pressure, no official accusations have been issued. The Iraqi military dismissed claims involving the Popular Mobilization Forces (PMF), noting no irregular activity had been detected. The PMF-aligned Coordination Framework also condemned the strikes as destabilizing acts carried out by rogue groups. 'None of the factions affiliated with us were involved in these operations,' affirmed senior Framework figure Amer al-Fayez in comments to Shafaq News, emphasizing the need to avoid further regional escalation. Across the Kurdistan Region, unease is mounting among local communities and workers' unions. Growing concerns over oil-sector staff safety have prompted renewed calls for authorities to prioritize the protection of strategic energy facilities. Pipeline on Pause These attacks deepen an ongoing political stalemate over oil exports. The Iraq–Turkiye pipeline, capable of transporting 300,000 barrels per day, has remained idle since March 2023 following an arbitration ruling. Talks between Baghdad and Erbil continue to stall amid disagreements over pricing, operational control, and contract terms. Tensions have been further strained by Baghdad's decision to cap recoverable production costs at $16 per barrel. International companies operating in the Kurdistan Region argue that actual expenses range between $24 and $26 per barrel, making a compromise essential for any restart in exports. Dr. Sherwani warned that the drone campaign appears designed to disrupt any fragile momentum in Iraqi-Kurdish dialogue. 'These strikes don't just damage infrastructure—they complicate already difficult negotiations and weaken the prospect of reaching a unified oil policy.' He also pointed out that continued production halts could prevent the Region from meeting its crude supply obligations to Iraq's Oil Ministry and SOMO, a failure that may deepen the rift with Baghdad.
Yahoo
23-06-2025
- Business
- Yahoo
Iran's Missile Strike on Qatar Fits De-Escalation Playbook
(Bloomberg) -- Iran's missile attack on a US air base in Qatar was telegraphed well in advance, suggesting Tehran intended a symbolic show of force while offering a way to de-escalate after US airstrikes over the weekend. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice One Architect's Quest to Save Mumbai's Heritage From Disappearing US State Budget Wounds Intensify From Trump, DOGE Policy Shifts In a social media post on Monday afternoon, President Donald Trump called the strike a 'very weak response' and thanked Iran 'for giving us early notice, which made it possible for no lives to be lost, and nobody to be injured.' 'Perhaps Iran can now proceed to Peace and Harmony in the Region, and I will enthusiastically encourage Israel to do the same' Trump said. 'IT'S TIME FOR PEACE,' he added in a subsequent post. Sign up for our breaking news alerts for the latest developments on the Israel-Iran war. Oil prices slumped in the wake of Iran's attack on the US base, with West Texas Intermediate plummeting by more than 6% to trade below $70 a barrel. That reflected investor sentiment that the Iranian strikes were less severe than feared and supplies from the Middle East won't be disrupted. The Monday night assault, which involved short- and medium-range ballistic missiles, targeted the Al Udeid Air Base in Qatar, which officials said had been largely evacuated. Iran's Supreme National Security Council said the number of missiles fired matched the number of bombs dropped by the US on the Islamic Republic days before and the strike 'poses no danger' to Qatar, which it called 'our friendly and brotherly country.' One official with knowledge of Western intelligence assessments said the attack was a typical example of an 'off-ramp' escalation and warned it was more difficult to understand whether — and at what point — Israel would stop its own military activities in the region. There was no immediate response from Israel to Trump's posts late Monday. 'It feels choreographed and intentional,' said Jonathan Panikoff, a former deputy national intelligence officer for the Near East. 'The Iranians get to tell their population they struck a mighty blow against the US, even if they didn't, and Trump has the room now to decide not to retaliate.' The Iranian strategy bore the hallmarks of the two strikes it launched against Israel last year — Tehran's first-ever direct attacks on its long-time enemy. Those were meant to look overwhelming but caused little damage. And in 2020, after Trump ordered a drone strike killing a top Iranian general during his first term, Iran responded with a missile barrage on a US-managed airbase in northern Iraq that resulted in no fatalities. Trump had threatened 'far greater' attacks if Iran didn't respond peacefully to the US bombing over the weekend. Trump visited Al Udeid last month as part of a larger tour of the region, giving a campaign-style speech to troops there. Many staff and a large number of military aircraft were later evacuated in anticipation of a possible Iranian strike. One unknown is how the strike will factor into the ongoing conflict between Iran and Israel, which touched off with Israeli strikes across the country more than a week ago. Israel hit targets including airports and an internal-security headquarters run by the Islamic Revolutionary Guard Corps on Monday, and targeted a fresh assault on Iran's Fordow nuclear site. Iran responded with missile attacks of its own. In the aftermath of the US strikes against Iranian nuclear sites, US officials had sought to portray Trump's attack as devastating but limited. They said the US wouldn't put boots on the ground and the strikes were aimed at Iran's nuclear program, not the country more broadly. 'Iran was very careful, measured in their response,' former Central Command Commander Frank McKenzie said in an interview. 'They tried to do as little as they could do and get away with a sense of honor.' --With assistance from Courtney McBride and Tony Capaccio. (Updates with Trump comments from second paragraph.) Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros The US Has More Copper Than China But No Way to Refine All of It Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-06-2025
- Business
- Yahoo
Iran Missile Strike on Qatar Base Fits De-Escalation Playbook
(Bloomberg) -- Iran's missile attack on a US air base in Qatar was telegraphed well in advance, suggesting Tehran intended a symbolic show of force while offering a way to de-escalate after US airstrikes over the weekend. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice One Architect's Quest to Save Mumbai's Heritage From Disappearing US State Budget Wounds Intensify From Trump, DOGE Policy Shifts The Monday night assault, which involved short- and medium-range ballistic missiles, targeted the Al Udeid Air Base in Qatar, which officials said had been largely evacuated. Iran's Supreme National Security Council said the number of missiles fired matched the number of bombs dropped by the US on the Islamic Republic days before and the strike 'poses no danger' to Qatar, which it called 'our friendly and brotherly country.' One official with knowledge of Western intelligence assessments said the attack was a typical example of an 'off-ramp' escalation and warned it was more difficult to understand whether — and at what point — Israel would stop its own military activities in the region. Oil prices slumped in the wake of Iran's attack on the US base, with West Texas Intermediate plummeting by more than 6% to trade below $70 a barrel. That reflected investor sentiment that the Iranian strikes were less severe than feared and supplies from the Middle East won't be disrupted. 'It feels choreographed and intentional,' said Jonathan Panikoff, a former deputy national intelligence officer for the Near East. 'The Iranians get to tell their population they struck a mighty blow against the US, even if they didn't, and Trump has the room now to decide not to retaliate.' The Iranian strategy bore the hallmarks of the two strikes it launched against Israel last year — Tehran's first-ever direct attacks on its long-time enemy. Those were meant to look overwhelming but caused little damage. And in 2020, after US President Donald Trump ordered a drone strike killing a top Iranian general during his first term, Iran responded with a missile barrage on a US-managed airbase in northern Iraq that resulted in no fatalities. While consensus is building that the nature of Iran's response gives everyone a chance to stand down, Trump still has a decision to make. He threatened 'far greater' attacks if Iran didn't respond peacefully to the US bombing over the weekend. Trump visited Al Udeid last month as part of a larger tour of the region, giving a campaign-style speech to troops there. Many staff and a large number of military aircraft were later evacuated in anticipation of a possible Iranian strike. The New York Times reported that the US has no intention of retaliating for now. It isn't clear if Iran has plans for more strikes on US bases in the region, or what it would do if the Trump administration launches more attacks on Iran's nuclear program. One unknown is how the strike will factor into the ongoing conflict between Iran and Israel, which touched off with Israeli strikes across the country more than a week ago. Israel hit targets including airports and an internal-security headquarters run by the Islamic Revolutionary Guard Corps on Monday, and targeted a fresh assault on Iran's Fordow nuclear site. Iran responded with missile attacks of its own. In the aftermath of the US strikes against Iranian nuclear sites, US officials had sought to portray Trump's attack as devastating but limited. They said the US wouldn't put boots on the ground and the strikes were aimed at Iran's nuclear program, not the country more broadly. 'The regime's top concerns at the moment probably are to survive and to shore up its ability to control the Iranian population,' said William Usher, a former senior Middle East analyst at the CIA. 'Iranian leaders' best bet is to bring about the end of the conflict as quickly as possible to preserve as much of the status quo as possible.' --With assistance from Courtney McBride and Tony Capaccio. Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros The US Has More Copper Than China But No Way to Refine All of It Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. Sign in to access your portfolio
Days of Palestine
17-06-2025
- Health
- Days of Palestine
Israeli ambushes at Gaza aid centers kill dozens
DaysofPal – Israeli forces killed at least 80 Palestinians and injured hundreds more in two deadly ambushes at US-managed aid distribution centers in the southern Gaza Strip on Tuesday. The attacks occurred in Rafah and Khan Younis, where thousands of desperate civilians had gathered to receive essential food supplies amidst a deepening famine. Eyewitnesses described scenes of horror as Israeli artillery and gunfire targeted crowds waiting for aid. In Rafah's al-Alam area, around 30 people were killed, while nearly 50 lost their lives in the al-Tahlia area of Khan Younis, according to the Palestinian Ministry of Health. 'We headed to the distribution point after hearing that wheat would be handed out. At 7am, we were ambushed in the Tahlia area,' said Abdalla Elyyan, a resident of Khan Younis. 'We had been told aid would be distributed in 30 minutes, when suddenly, without warning, shells and bullets rained down. Chaos erupted. People were strewn across the streets, so many killed and wounded.' Elyyan described the scene as catastrophic: 'Can you imagine shells raining down on thousands of people packed into a small area? The number of people killed was staggering.' Nidal Abu Nseira, another eyewitness from Khan Younis, recounted that shells fell in the midst of a crowd of nearly 5,000 people. 'Hundreds were killed or wounded. I personally transported at least 50 injured people; many had injuries to the head and legs. Body parts were scattered across the streets.' Hospitals in Gaza are struggling to cope with the influx of casualties. Emergency departments, intensive care units, and operating rooms are overflowing, and there is a severe shortage of essential medicines and medical supplies. Health officials warn that the system is on the brink of collapse. Since the unilateral end of a ceasefire on 18 March, Israeli attacks have intensified across Gaza, killing at least 5,139 people. The overall death toll in Gaza since the war began on 7 October 2023 has now reached 55,432, according to health ministry data. Israel is still strictly preventing the enclave from receiving food, water, and other necessities for survival. Access to aid is now controlled through the controversial US-backed Gaza Humanitarian Foundation (GHF), whose distribution efforts have become flashpoints for violence. Many Palestinians view the aid setup as a deadly trap. 'It's a trap, not an aid organization.' 'It's a trap to kill our men,' said one woman whose cousin was killed in Tuesday's attacks. 'He went out to get food for his family. And he was killed. They set up this new aid mechanism so they can lure our young men and kill them one by one.' In a further escalation, Israel launched an attack on Gaza's last remaining fiber optic internet route on Thursday, cutting off all landline and internet communications across the territory. This left residents in southern and central Gaza without any means to reach the outside world, joining northern areas that had already been cut off earlier in the week. In a statement, the Gaza-based Government Media Office condemned the move as 'a crime aimed at obscuring the truth and deepening the humanitarian catastrophe.' The statement added, 'The widespread and recurring interruption of communications and the internet cannot be considered a technical or accidental failure. Rather, it is a deliberate and premeditated crime aimed at isolating the Gaza Strip from the outside world, obscuring the truth, and depriving citizens of the most basic necessities of life, safety, communication, and assistance.' Even after a brief and partial restoration of services over the weekend, renewed bombardments on Monday once again disrupted telecommunications. On that day alone, 51 Palestinians were killed, including 36 who were awaiting aid. The Gaza Ministry of Health announced that as of June 16, the number of Palestinians killed while attempting to access humanitarian aid since May 27 has risen to 338, with 2,831 others wounded. Despite the mounting death toll and a looming famine, aid-seekers continue to gather wherever food distribution is rumored, risking their lives in hopes of survival. Shortlink for this post:
Dubai Eye
16-05-2025
- Business
- Dubai Eye
UAE-US AI campus unveiled in Abu Dhabi during Trump visit
The UAE and US unveiled the first phase of a 5GW AI Campus in Abu Dhabi during President Donald Trump's visit, deepening bilateral cooperation in AI and digital infrastructure. The campus will host large-scale US data centers and enterprises, offering critical compute resources to serve the Global South. Once complete, it is expected to support nearly half of the world's population with accelerated digital services. Powered by a mix of nuclear, solar and gas energy, the facility is designed to minimise carbon emissions. It will also include a dedicated science park to drive AI innovation and research. US Secretary of Commerce Howard W. Lutnick described the initiative as a 'major investment in advanced semiconductors and data centers across the US and the UAE,' adding that American companies will operate the data centers and provide US-managed cloud services throughout the region. The project is being developed by Emirati AI leader G42, in collaboration with multiple US firms. It falls under the newly launched US-UAE AI Acceleration Partnership, a bilateral framework to advance cooperation on artificial intelligence and emerging technologies. The UAE has been a pioneer in AI development, becoming the first country in the world to appoint a Minister of Artificial Intelligence in 2017. It also launched the Mohamed bin Zayed University of Artificial Intelligence in 2019 as part of its broader national AI strategy, aimed at transforming sectors including education, healthcare, transportation, and energy.
