Iraq’s oil minister names new deputies

Thamer Abbas Al-Ghadhban, center, is looking to reform Iraq’s oil industry. (AFP)
Updated 16 February 2019
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Iraq’s oil minister names new deputies

  • Fayadh Nema was named deputy minister for upstream affairs
  • Mutasim Akram was named the new deputy minister of gas affairs

BEIRUT: Several months after promising reform at his ministry, Iraq Oil Minister Thamer Al-Ghadhban on Friday reshuffled several key deputies.
Fayadh Nema was named deputy minister for upstream affairs. He had previously been deputy minister for refining operations. That position will now be occupied by Hamed Younis Saleh, formerly the deputy minister of gas affairs.
Mutasim Akram was also named the new deputy minister of gas affairs. He was previously deputy minister for distribution affairs and will be replaced in that post by Karim Hattab Jafar.
Al-Ghadhban, who was nominated by Prime Minister Adel Abdul Mahdi and confirmed by a parliamentary vote last October, replaced Jabar Al-Luaibi as minister. Al-Luaibi has since become head of the new National Oil Company.
Al-Ghadhban helped resuscitate a flagging oil industry after the US-led invasion that toppled Saddam Hussein in 2003. He was interim oil minister from 2004-5 and a former energy adviser to former premier Haider Al-Abadi.
Days after being confirmed in a parliamentary vote last October, he said he would look at ways to reform the oil ministry.


Saudi finance ministry closes book on March sukuk issuance — agency

Updated 26 March 2019
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Saudi finance ministry closes book on March sukuk issuance — agency

JEDDAH: Saudi Arabia’s finance ministry has closed the book for investors seeking to take part in its March 2019 sukuk issuance program, which aims to raise 6.075 billion riyals ($1.62 billion), the Saudi press agency reported on Monday.
The sukuk are divided into two tranches of 10 and 15 years. The first tranche is for 2.395 billion riyals of 10-year bonds, and the second is for 3.680 billion riyals of 15-year bonds to mature by 2034.