Iraq restarts small Kirkuk oil exports after a year of suspension

The flows resumed on Friday at a modest level of around 50,000-60,000 barrels per day in Kirkuk. (AFP)
Updated 16 November 2018
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Iraq restarts small Kirkuk oil exports after a year of suspension

  • The flows resumed on Friday at a modest level of around 50,000-60,000 barrels per day

LONDON: Iraq has restarted exports of Kirkuk oil, interrupted more than a year ago amid a standoff between the central government in Baghdad and Kurdistan’s semi-autonomous region, industry sources said on Friday.
The development is a win for the US government which has been putting pressure on both sides to settle the dispute and resume flows to help address a shortage of Iranian crude in the region after Washington imposed new sanctions on Tehran.
The flows resumed on Friday at a modest level of around 50,000-60,000 barrels per day versus peak levels of 300,000 observed during some months of 2017 and it was not clear when and by how much they will rise, sources said.


Egypt's Banque du Caire eyeing sale of 20-30 pct stake for $300-400 mln

Updated 18 April 2019
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Egypt's Banque du Caire eyeing sale of 20-30 pct stake for $300-400 mln

  • A deal to sell the state-owned bank was cancelled in 2008, and a planned IPO has been repeatedly postponed over the past three years

CAIRO: The head of Egypt's Banque du Caire said on Thursday the bank was aiming to raise $300-400 million by selling a 20-30 percent stake by the end of 2019.
Chairman and Chief Executive Tarek Fayed told reporters that the timing of the initial public offering depended on market conditions.
A deal to sell the state-owned bank was cancelled in 2008, and a planned IPO has been repeatedly postponed over the past three years.