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Iraq: Lukoil Faces Staffing Issues amid Coronavirus

Iraq: Lukoil Faces Staffing Issues amid Coronavirus
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Iraq: Lukoil Faces Staffing Issues amid Coronavirus

Iraq: Lukoil Faces Staffing Issues amid Coronavirus

Russia’s second oil producer Lukoil is running into difficulties staffing its assets in Iraq due to the new coronavirus and associated restrictions, chief executive Vagit Alekperov, was cited on Saturday by Interfax news as saying.

Lukoil manages the West Qurna 2 oilfield, 65 km (40 miles) north-west of Basra.

The producer It is one of the world’s largest fields, with reserves of around 14 billion barrels, according to Lukoil.

“In Iraq we have a problem with replacing shift workers,” Alekperov said, Reuters reported.

“We are reaching deals with people to keep them on for shifts that are 60 days long or more,” he was cited as saying on state television.

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Algeria to Buy $1.5 Billion Shares in BRICS Bank

Algerian capital (Reuters)
Algerian capital (Reuters)
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Algeria to Buy $1.5 Billion Shares in BRICS Bank

Algerian capital (Reuters)
Algerian capital (Reuters)

Algerian President Abdelmadjid Tebboune said on Saturday his country intends to buy shares in the BRICS New Development Bank (NDB) for $1.5 billion.
On the sidelines of the ninth annual meeting of the BRICS NDB held in Cape Town on August 31, Algeria has been authorized to become a member of this entity.
But Tebboune said his country is no longer interested in joining the BRICS economic alliance in view of the political positions and membership criteria of some of its members.
“We wanted to join the BRICS economic group, but some members blocked Algeria's accession,” the Algerian President said in an interview with representatives of national media, broadcast on Saturday evening on national television and radio channels. He said those members realized they can’t affect Algeria’s dynamic.
On the other hand, Tebboune revealed that the country’s priority now is to build a strong economy. “Building a strong national economy and protecting Algeria from global fluctuations are among the priorities,” he said, emphasizing the importance of domestic production of widely consumed goods.
The President stressed that he could not turn all Algerians rich, but vowed to strengthen the purchasing power of citizens to preserve their dignity and reduce poverty.
“We are exerting efforts to achieve self-sufficiency in basic foodstuffs such as wheat and barley,” he said.
He also highlighted that in 2024, Algeria has achieved “80% self-sufficiency in wheat production.”
Tebboune further asserted that the phenomenon of smuggling, which harms the national economy, must stop, as Algeria plans to create free zones with neighboring brotherly countries.
He said Algeria has a free zone with Mauritania and soon with Niger and then Tunisia and Libya.