Iraq nears oil output capacity of 5 mln bpd, says committed to OPEC cuts

Iraq is forced to flare some of the gas produced alongside crude oil as it lacks the facilities needed to capture and process it into usable fuel. (Shutterstock)
Updated 13 January 2018
0

Iraq nears oil output capacity of 5 mln bpd, says committed to OPEC cuts

ABU DHABI: Iraqi Oil Minister Jabar Al-Luaibi said on Saturday that the OPEC member’s oil output capacity is near reaching 5 million barrels per day, but the country will remain in full compliance with its output target under a global pact to cut supplies.
Luaibi, who was speaking at an industry conference in Abu Dhabi, also said that his ministry plans to conclude three contracts with international gas companies by mid-2018 to utilize gas from the south of the country.
He said that by 2021, the country plans to “reach zero gas flaring.”
Iraq is forced to flare some of the gas produced alongside crude oil as it lacks the facilities needed to capture and process it into usable fuel.


Emirates, South African Airways expand codeshare deal

Updated 24 min 8 sec ago
0

Emirates, South African Airways expand codeshare deal

  • Deal will improve connectivity between Dubai and Southern Africa
  • Emirates has been flying to South Africa since 1995 and the first codeshare agreement with SAA was signed in 1997

LONDON: Dubai’s flagship airline Emirates is to expand its codesharing agreement with South African Airways (SAA), aiming to improve connectivity between the emirate and locations across Southern Africa.

The expansion of the agreement will support the African airline’s turnaround plan which aims to make a profit by 2021.

SAA is grappling with financial difficulties, having posted a string of losses and forced to rely on government support. Having failed to make a profit since 2011, it is cutting staff numbers and looks to reduce its route network.

“It’s clear that SAA is struggling to survive and so it makes sense for them to coalesce their operations with the powerhouse that is Emirates as opposed to competing head to head, because they simply won’t cut it against them,” said aviation analyst Saj Ahmad at Strategic Aero Research.

“The deal also opens up the possibility of Emirates deploying more flights to places like Cape Town and Johannesburg as well as codesharing on other SAA-regional flights to points that Emirates doesn’t serve.”

Emirates has been flying to South Africa since 1995 and the first codeshare agreement with SAA was signed in 1997.

Under this deal, SAA is able to offer its customers seats on flights operated by Emirates between South Africa and Dubai. This currently includes four daily flights from Johannesburg, three daily flights from Cape Town and one daily flight from Durban.

The new agreement will see this codeshare expand across the airlines’ networks.

“We have seen great success with the codeshare agreement, having enabled greater connectivity to both SAA and Emirates customers, by offering more choice, flexibility and ease of connections to a wide range of cities via Dubai and across more points in Southern Africa,” said Tim Clark, president of Emirates Airline.

“Increasing the scope of our agreement underpins the strong bonds we share with SAA and our belief that this enhanced partnership will enable further success and gain to the airlines and their customers,” he said.

SAA CEO Vuyani Jarana said: “Our route network and that of Emirates complement one another. The expansion of our partnership will further strengthen key focus areas of the implementation of our turnaround plan.”

The agreement will include the two airlines working to improve connecting times via Johannesburg, to make it easier for people to catch flights to popular regional destinations.