Mars Omega Partnership Ltd provides pro bono geopolitical reports for publication to reputable outlets to raise awareness of current key issues.
Below are a selection that also appear on Oil Voice.
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Genel Energy has announced it will be stopping all exploration operations in Kurdistan to save cash.It is currently owed an eye-watering $378M by the Kurdistan Regional Government (KRG), up from $230M at EOY 2014.
Genel announced in a trading update that it needs to reduce CAPEX to $150-200 million. The company has burned through an equally eye-watering $500M in Angola, Malta, and Morocco, without seeing a return on their investment.
Genel’s decision highlights the increasing difficulties of oil companies in the Kurdistan region, which are continuing to produce oil, but in doing so they are only in effect deepening the hole in their balance sheets.
On Friday 26 June 2015, Tunisia was one of three countries attacked by what is generally assumed to be supporters of the so-called Islamic State.
14 November 2014
According to Reuters, late yesterday Baghdad and the Kurdistan Regional Government (KRG) “reached a deal to ease tensions over Kurdish oil exports and payments for civil servants from Baghdad.”
The Iraqi Minister of Finance (a Kurd) - and former federal Foreign Minister - Hoshyar Zebari said Baghdad has agreed to resume payments from the federal budget for the KRG’s civil servants' salaries.
6 November 2014
Yesterday the Kurdish news outlet RUDAW reported that Kurdistan Regional Government (KRG) Prime Minister Nechirvan Barzani said Iraqi federalism had failed but the Kurds are not seeking independence but greater autonomy.
Barzani stated bluntly “Federalism has failed and if we can’t establish federalism, we are asking for additional autonomy, not for the destruction of Iraq. It would be very hard after 1991 and 2003 to go back to square one.”
29 October 2014
At the same time as Iraqi Prime Minister Haidar al-Abadi is making political headway in terms of government formation, some Shi’a militias continue to operate in a dangerous and largely unaccountable manner.
This is a threat to domestic security and stability, and one Iraq and the Prime Minister alike can do without, as the country tries to manage the external threat from ISIS extremists.
1 August 2014
The last 96 hours saw the US becoming apparently unthinkingly complicit in the de facto if not de jure economic embargo of Kurdistan. This was followed by a rapid series of political announcements by US officials denying that this was the case.
Confused? Probably not as much as the US administration appears to be -despite denials to the contrary.