Iraq on Wednesday signed an agreement with the US energy company ExxonMobil to develop a major oilfield in the country's south, as Baghdad pushes to expand its hydrocarbons capacity.
The deal to develop the Majnoon oilfield marks a “significant step forward in the development of Iraq's oil sector and strengthens economic ties between Iraq and the United States,” a government statement said.
Iraqi Prime Minister Mohammed Shia Al Sudani oversaw the signing ceremony, which was also attended by senior US diplomats in Iraq.
Iraq is keen to collaborate with major oil companies around the world, particularly US-based companies, to work on key oilfields, including the Majnoon field in Basra.
“All doors are open for major international companies to develop the oil sector,” Mr Al Sudani said.
The government is “keen to attract investments in the energy sector and develop it, especially in the field of gas exploitation”, he added.
Mr Al Sudani also underscored the importance of ExxonMobil's contribution to developing the infrastructure for oil exports from the country and the company's help in diversifying Iraq's export sources.
The utilisation of the latest technologies in the oil industry by Exxon Mobil has also raised the sector's performance and boosted Iraqi hydrocarbons production, he added.
Exxon was among the first western oil explorers allowed into Iraq, Opec's second-largest crude producer, in 2010 when the nation sought to rebuild its energy industry in the aftermath of the country’s invasion, the fall of president Saddam Hussein and the years of conflict that followed.
However, Exxon decided to exit its primary investment – a stake in the West Qurna-1 oilfield in southern Iraq – early last year amid tough contractual terms, oil production caps imposed by the Opec+ group of oil producers, supply constraints and continuing political instability.
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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The Gandhi Murder
- 71 - Years since the death of MK Gandhi, also christened India's Father of the Nation
- 34 - Nationalities featured in the film The Gandhi Murder
- 7 - million dollars, the film's budget
Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
How to become a Boglehead
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
• Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.
• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
• Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.
• Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.
ELECTION%20RESULTS
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