Business

Friday, March 13, 2026 | Daily Newspaper published by GPPC Doha, Qatar.

Business

Flames emerge from flare stacks at the oil fields in Basra (file). Iraq will keep crude oil production at around 1.4mn barrels per day, ‌Oil Minister Hayan Abdel-Ghani was quoted ​as saying on ‌Thursday, less than a third of ‌the ⁠level ‌before the US-Israeli conflict ‌with Iran.

Iraq to keep crude output at 1.4mn bpd amid war disruption, says oil minister

Iraq will keep crude oil production at around 1.4mn barrels per day, ‌Oil Minister Hayan Abdel-Ghani was quoted ​as saying on ‌Thursday, less than a third of ‌the ⁠level ‌before the US-Israeli conflict ‌with Iran.According to the state news ⁠agency, the minister said that 200,000 bpd is being transported by truck through Turkey, Syria, and Jordan and that Iraq has put in place a plan to manage the current disruptions.Oil production ​from Iraq's main southern oilfields, where most of its oil is produced and exported, has ‌plunged 70% to just 1.3mn ​bpd, sources told Reuters on March ​8, as the country is unable to export via the Gulf due to the war.The drop in production and exports is set to strain Iraq's already fragile finances as the state relies on crude sales for nearly all public spending and more ‌than 90% of ‌its income.Under pressure ⁠to mitigate the losses, the oil ⁠ministry ⁠has asked the Kurdistan Regional Government (KRG) if it would pump at least 100,000 bpd from its state-managed Kirkuk oilfields to Turkey's Ceyhan port, sources told Reuters on Wednesday. The ministry ​said the KRG has not yet responded to the request.Abdel-Ghani was quoted as saying on Thursday that Iraq will sign an agreement on exporting oil through the Ceyhan pipeline, but he did not give further details.

File photo: IndiGo CEO Pieter Elbers attends the press briefing during the annual International Air Transport Association (IATA) meeting in New Delhi. (Reuters)

IndiGo CEO resigns months after flight cancellation crisis

The chief executive of India's largest airline IndiGo has stepped down with immediate effect, the company said Tuesday, months after mass flight cancellations by the carrier threw airports across India into disarray.In a stock exchange filing, the airline's parent InterGlobe Aviation Limited said its board had taken note of the resignation of CEO Pieter Elbers, who will be relieved from his duties at the close of business Tuesday.Managing director Rahul Bhatia will "in the interim assume management of the affairs of the company" until a new chief executive is appointed, the filing said, adding that a replacement was expected "in short order".The leadership change comes just months after IndiGo faced widespread criticism following a spate of flight cancellations and delays late last year that disrupted travel plans for thousands of passengers, particularly during peak travel periods.In January, India's civil aviation regulator imposed a fine of $2.45mn on IndiGo for poor roster planning that led to large-scale cancellations in December.The airline has cited operational constraints and aircraft availability issues in the past for schedule disruptions, though it remains the country's dominant carrier.The operational meltdown came even though IndiGo had two years to prepare for the new rules aimed at giving pilots more rest periods in between flights to enhance passenger safety.IndiGo operates more than 2,200 daily flights with a fleet of over 400 aircraft, connecting more than 95 domestic and 40 international destinations.The airline carried about 124mn passengers in 2025, making it India's biggest carrier by market share.