In Iraq's Fields of Black Gold, Thousands Lose Livelihoods

Local worker Muhammad Subeih Haider, who was laid off amid the spread of the coronavirus disease (COVID-19), by private British security firm operating in West Qurna 1 oilfield, developed by Exxon Mobil, stands as he protests with others in front of the Basra Oil Company in Basra, Iraq, May 20, 2020. Picture taken May 20, 2020. REUTERS/Mohammed Aty
Local worker Muhammad Subeih Haider, who was laid off amid the spread of the coronavirus disease (COVID-19), by private British security firm operating in West Qurna 1 oilfield, developed by Exxon Mobil, stands as he protests with others in front of the Basra Oil Company in Basra, Iraq, May 20, 2020. Picture taken May 20, 2020. REUTERS/Mohammed Aty
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In Iraq's Fields of Black Gold, Thousands Lose Livelihoods

Local worker Muhammad Subeih Haider, who was laid off amid the spread of the coronavirus disease (COVID-19), by private British security firm operating in West Qurna 1 oilfield, developed by Exxon Mobil, stands as he protests with others in front of the Basra Oil Company in Basra, Iraq, May 20, 2020. Picture taken May 20, 2020. REUTERS/Mohammed Aty
Local worker Muhammad Subeih Haider, who was laid off amid the spread of the coronavirus disease (COVID-19), by private British security firm operating in West Qurna 1 oilfield, developed by Exxon Mobil, stands as he protests with others in front of the Basra Oil Company in Basra, Iraq, May 20, 2020. Picture taken May 20, 2020. REUTERS/Mohammed Aty

Mohammed Haider, a security worker in Iraq's southern oilfields, thought he was safe after signing a new one-year contract to guard oil facilities. Three days later, he was out of a job.

"I got laid off. They threw us out on the pavement," the 38-year-old said, speaking as he protested outside the Basra Oil Company headquarters, the national partner for foreign companies.

Haider had been hired to drive vehicles for a British security firm around the giant West Qurna 1 oilfield that produces hundreds of thousands of barrels of crude each day - part of OPEC member Iraq's principal source of wealth.

He now spends his days at home or searching in vain online for jobs that are hard to come by in a crisis-hit economy.

"I can't even fall back on taxi-driving work. The curfew because of coronavirus means I'd get arrested for driving around illegally," he said later at his home.

Haider is one of thousands of workers in Iraq's oil sector who were laid off this year after a fall in oil prices caused by the COVID-19 pandemic, and who struggle to find any other source of income.

Iraq in March asked international oil companies to cut their budgets by 30% because of plummeting oil prices. Energy companies in the south responded by cutting costs.

Subcontractors, including security, construction and transport firms, let thousands of workers go, according to local authorities.

"Of about 80,000 Iraqis working in the oilfields, some 10,000 to 15,000 are now out of work," said Mohammed Ibadi, a local government official in Basra province, where most of the southern fields are located.

Iraqi workers had been forced to take unpaid leave or had been laid off completely, mostly by subcontractors, he said.

'I'D TAKE HALF MY WAGES'

Ibadi's office received dozens of complaints from workers who asked Iraqi authorities to sanction companies that do not comply with contractual termination terms. The local authorities negotiated 50% and 25% salaries for four months for some 2,000 workers who had been laid off, he said.

Khalid Hamza, associate director of the Basra Oil Company, said the government body would not accept the arbitrary termination of local staff.

"We particularly need to protect the jobs of the local population," he said.

Iraq has pledged to cut nearly a million barrels of oil production per day (bpd) in line with OPEC cuts. Its exports stood at 3.2 million bpd in May. The cuts have slashed state revenue, of which it makes up more than 90%.

The government faces making cuts to public sector pay - a move that would further anger impatient Iraqis who staged protests last year against alleged government corruption and lack of jobs.

Ibadi fears the economic and social crisis will worsen as the COVID-19 pandemic hits Iraq harder.

With most jobs in Basra linked to the energy industry, it is near impossible for workers like Haider to find an alternative source of income.

The father of three, who worked for five years as a driver for the British company, subcontracted by an American oil corporation, is ready to take on any job to provide for his family.

Haider fears he might no longer be able to cover school or medical costs.

"I wish the company would take me back, even for half my wages," He said.



Saudi Aramco Achieves 70% Local Content Target through iktva Program

Saudi Aramco Achieves 70% Local Content Target through iktva Program
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Saudi Aramco Achieves 70% Local Content Target through iktva Program

Saudi Aramco Achieves 70% Local Content Target through iktva Program

Saudi Aramco announced on Wednesday that its supply chain transformation program, iktva (In-Kingdom Total Value Add), has achieved its target of reaching 70% local content.

Building on this milestone, the company said that it plans to increase local content in its goods and services procurement to 75% by 2030.

Since its launch, the iktva program has contributed more than $280 billion to the Kingdom’s gross domestic product, reinforcing its role as a key driver of industrial development, economic diversification, and long-term financial resilience.

Through the localization of goods and services, the program has strengthened the resilience and reliability of Aramco’s supply chains, enhanced operational continuity, reduced supply chain vulnerabilities, and provided protection against global cost inflation - capabilities that proved critical during periods of disruption.

Aramco President and CEO Amin Nasser expressed pride in the scale of transformation achieved through iktva and its positive impact on the Kingdom’s economy, noting that the announcement represents a major milestone in the program’s journey and reflects a significant leap in Saudi Arabia’s industrial development, fully aligned with the Kingdom’s national vision.

“iktva is a core pillar of Aramco’s strategy to build a competitive national industrial ecosystem that supports the energy sector while enabling broader economic growth and creating thousands of job opportunities for Saudi nationals,” he stressed.

By localizing supply chains, the program ensures operational reliability and mitigates disruptions that may affect global supply chains, he added, noting that its cumulative impact over a decade demonstrates the sustained value it continues to generate.

Over the past decade, iktva has emerged as a leading example of supply-chain-driven economic transformation, converting Aramco’s project spending into domestic economic multipliers that have created jobs, improved productivity, stimulated exports, and strengthened supply chain resilience.

The program has identified more than 200 localization opportunities across 12 key sectors, representing an annual market value of $28 billion. These opportunities have translated into tangible investment outcomes, catalyzing more than 350 investments from 35 countries in new manufacturing facilities within the Kingdom, supported by approximately $9 billion in capital. These investments have enabled the local manufacture of 47 strategic products in Saudi Arabia for the first time.

iktva has also contributed to the creation of more than 200,000 direct and indirect jobs across the Kingdom, further strengthening the local industrial base and national capabilities. To support continued growth, the program organized eight regional supplier forums worldwide in 2025, in addition to its biennial forum. These events helped connect global investors, manufacturers, and suppliers with localization opportunities in Saudi Arabia.


AirAsia X Unveils Kuala Lumpur-Bahrain-London Route

FILE PHOTO: Planes from AirAsia are seen on the tarmac of Kuala Lumpur International Airport Terminal 2 (KLIA2) in Sepang, Malaysia, February 26, 2024. REUTERS/Hasnoor Hussain/File Photo
FILE PHOTO: Planes from AirAsia are seen on the tarmac of Kuala Lumpur International Airport Terminal 2 (KLIA2) in Sepang, Malaysia, February 26, 2024. REUTERS/Hasnoor Hussain/File Photo
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AirAsia X Unveils Kuala Lumpur-Bahrain-London Route

FILE PHOTO: Planes from AirAsia are seen on the tarmac of Kuala Lumpur International Airport Terminal 2 (KLIA2) in Sepang, Malaysia, February 26, 2024. REUTERS/Hasnoor Hussain/File Photo
FILE PHOTO: Planes from AirAsia are seen on the tarmac of Kuala Lumpur International Airport Terminal 2 (KLIA2) in Sepang, Malaysia, February 26, 2024. REUTERS/Hasnoor Hussain/File Photo

Malaysian budget carrier AirAsia X on Wednesday unveiled plans to resume flights from Kuala Lumpur to London via a new hub in Bahrain, using the extended range of narrow-body jets to stitch fresh routes alongside established carriers.

The service, due to start in June, would make Bahrain AirAsia X's first hub outside Asia, placing it within reach of busy markets in Southeast Asia, the Middle East and Europe.

It also marks a ‌return to ‌the British capital more than a decade after the airline suspended ‌non-stop ⁠flights from Kuala Lumpur ⁠and retired its Airbus A340 jets.

Co-founder Tony Fernandes said Bahrain could become a regional gateway for underserved secondary cities across Asia, Africa and Europe.

"While ... of course London is a very emotional destination for many people in Southeast Asia, the real aim is to have a bunch of A321s flying maybe 15 times a day to Bahrain," he told Reuters in an interview.

"From Bahrain, you connect to Africa and Europe with a big emphasis ⁠on creating connectivity that doesn't exist."

The move follows Asia's ‌largest low-cost carrier completing its acquisition of the short-haul ‌aviation business from parent Capital A, bringing the group's seven airlines under one umbrella.

Fernandes, also CEO ‌of Capital A, stressed the importance of the Airbus A321XLR, an extra-long-range narrow-body aircraft ‌he said would let the airline replicate its Asian low-cost model on intercontinental routes.

"That aircraft enables me to start thinking we can do what we did in Asia to Europe and Africa," he said, citing potential secondary routes such as Penang to Cologne or Prague.

AirAsia plans to ‌redeploy its larger A330s to longer routes while building up the Bahrain hub, with possible African destinations including the Maghreb region, Egypt, ⁠Morocco, Tanzania and Kenya. ⁠A Bangkok-to-Europe route is also under consideration.

Fernandes played down direct competition with Gulf carriers such as Emirates and Qatar Airways, positioning AirAsia X as a budget option aimed at a different market.

"I'm all about stimulating a new market," he said. "We've got into our little playground (of) 3 billion people, most of them have not been to Europe."


Von der Leyen: EU Must 'Tear Down Barriers' to Become 'Global Giant'

(FILES) European Commission President Ursula von der Leyen delivers a speech in Brussels, on January 22, 2026. (Photo by NICOLAS TUCAT / AFP)
(FILES) European Commission President Ursula von der Leyen delivers a speech in Brussels, on January 22, 2026. (Photo by NICOLAS TUCAT / AFP)
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Von der Leyen: EU Must 'Tear Down Barriers' to Become 'Global Giant'

(FILES) European Commission President Ursula von der Leyen delivers a speech in Brussels, on January 22, 2026. (Photo by NICOLAS TUCAT / AFP)
(FILES) European Commission President Ursula von der Leyen delivers a speech in Brussels, on January 22, 2026. (Photo by NICOLAS TUCAT / AFP)

The EU must "tear down the barriers" that prevent it from becoming a truly global economic giant, European Commission chief Ursula von der Leyen said Wednesday, ahead of leaders' talks on making the 27-nation bloc more competitive.

"Our companies need capital right now. So let's get it done this year," the commission president told EU lawmakers as she outlined key steps to bridging the gap with China and the United States.

"We have to make progress one way or the other to tear down the barriers that prevent us from being a true global giant," she said, calling the current system "fragmentation on steroids."

Reviving the moribund EU economy has taken on greater urgency in the face of geopolitical shocks, from US President Donald Trump's threats and tariffs upending the global trading to his push to seize Greenland from Denmark.

AFP said that Von der Leyen delivered her message before heading with EU leaders including France's Emmanuel Macron and Germany's Friedrich Merz to a gathering of industry executives in Antwerp, held on the eve of a summit on bolstering the bloc's economy.

A key issue identified by the EU is the fact that European companies face difficulties accessing capital to scale up, unlike their American counterparts.

To tackle this, Plan A would be to advance together as 27 states, von der Leyen said, but if they cannot reach agreement, the EU should consider "enhanced cooperation" between those countries that want to.

Von der Leyen said Europe should ramp up its competitiveness by "stepping up production" on the continent and "by expanding our network of reliable partners", pointing to the importance of signing trade agreements.

After recent deals with South American bloc Mercosur and India, she said more were on their way -- with Australia, Thailand, the Philippines and the United Arab Emirates.

One of the biggest -- and most debated -- proposals for boosting the EU's economy is to favor European firms over foreign rivals in "strategic" fields, which von der Leyen supports.

"In strategic sectors, European preference is a necessary instrument... that will contribute to strengthen Europe's own production base," she said -- while cautioning against a "one-size-fits-all" approach.

France has been spearheading the push, but some EU nations like Sweden are wary of veering into protectionism and warn Brussels against going too far.

The EU executive will also next month propose the 28th regime, also known as "EU Inc", a voluntary set of rules for businesses that would apply across the European Union and would not be linked to any particular country.

Brussels argues this would make it easier for companies to work across the EU, since the fragmented market is often blamed for why the economy is not better.

The commission is also engaged in a massive effort to cut red tape for firms, which complain EU rules make it harder to do business -- drawing accusations from critics that Brussels is watering down key legislation on climate in particular.