UPDATE 2-Hunting cautious on shrinking gas extraction market

UPDATE 2-Hunting cautious on shrinking gas extraction market Thu, Mar 07 07:04 AM EST * Pretax profit jumps 55 percent in 2012 * Hunting sees slow start to 2013, improving in H2 * Expects more competition stemming from weak gas price * Plans final 2012 dividend of 14.0 pence By Alice Baghdjian LONDON, March 7 (Reuters) - British oil services firm Hunting reported a jump in 2012 profits but gave a cautious outlook for 2013, saying low prices were discouraging drilling for gas in the United States, shrinking the market for extraction services. "There is a smaller market - instead of rigs chasing for (both) oil and gas, all they can chase for is the oil market...We'll continue to achieve our market share but will no doubt meet increased competition," Hunting's finance director Peter Rose told Reuters. Hunting posted a 55 percent jump in pretax profit for 2012 to 123.6 million pounds ($186 million), compared with the 79.8 million it made a year earlier. Profits were bolstered by activity in the Gulf of Mexico returning to levels seen before BP's 2010 oil spill, stable U.S. crude oil prices, as well as a full year's contribution from acquisitions completed in 2011, the company said. Shares in the firm were down 1.88 percent by 1130 GMT to 914 pence, having risen some 18 percent so far this year, outperforming the broader sector. The company, which manufactures products used by oil firms to construct and maintain wells, has benefited from huge growth in demand for its products from operators in the booming U.S. shale oil and gas market in recent years. Oil and gas firms are increasingly reliant on services companies to help extract the shale hydrocarbons, which can be more difficult and costly to remove than conventional oil and gas. Hunting said an increase in active offshore drilling units in the Gulf of Mexico and elsewhere helped to offset the shift from gas to liquids in North America, with a 13 percent decline in the number of active onshore rig units there in 2012. The company said that the first six months of 2013 would be flat, but added business should pick up later in the year, alongside a modest increase in onshore drilling throughout 2013. "While the Board is mindful of the current geopolitical and economic issues which prevail, it is confident of delivering a further satisfactory year," Hunting's chief executive Dennis Proctor said in a statement. A surprise profit warning in January from Saipem, Europe's biggest company in the industry, sent shockwaves through what was seen as a buoyant sector. A vague outlook forecast from peer Petrofac last week also weighed on the sector.

SARB offshore project given 2016 production target

SARB offshore project given 2016 production target by Arabian Oil & Gas Staff on Sep 5, 2011 Be the first to comment Ali Rashid Al Jarwan, ADMA-OPCO's CEO. ADMA OPCO's Satah Al Razboot (SARB) full field development has been approved by ADNOC to proceed with high priority in order to start production by early 2016, according to the offshore production company's annual review. The SARB Project Team was formed under the sponsorship of ADMA-OPCO’s CEO Ali Al Jarwan, and the Front-End Engineering and Design (FEED) was awarded in 2010. The annual report reveals the target was to complete the FEED activities by April 2011. The developed scheme is based on building two artificial islands for drilling instead of the conventional Wellhead Towers approach and directs the well fluid through subsea pipelines to a new facility to be installed on Zirku Island for processing, storage and export of the SARB production of 100 MBD of crude oil. An option to export crude through Jabbel Al Dhanna is being studied. This facility will also handle the Umm Lulu production of 105 MBD in addition to the Gas and Water Injection requirement for SARB Field. ADNOC is scheduled to complete the artificial islands construction by end 2012. The layout of the falcon shaped islands has been finalized and an optimum well location for drilling and SIMOPS has been identified. The current plan is to drill 44 wells from SARB 1 and 42 wells from SARB 2. The First Stage Separation study concluded that no separation will be introduced to the artificial islands in compliance with the Select Stage findings. A combined oil and gas pipeline option has been adopted and two 26 inch combined fully rated oil and gas pipelines- one from each island (SARB 1 & SARB 2) - to Zirku Island have been selected. The start-up of drilling by a new onshore rig suitable for extended reach drilling is targeted for August 2013 from SARB 1 and by January 2014 for SARB 2. =========== Abu Dhabi receives bids on Sarb and Umm al-Lulu projects 6 November 2012, 11:58 GMT | By Mark Watts Contractors submit commercial bids for two major packages on offshore oil fields Abu Dhabi has received commercial bids on two major packages to develop its Satah al-Razboot (Sarb) and Umm al-Lulu offshore oil fields, according to sources close to the bidding process. Offshore producer Abu Dhabi Marine Operating Company (Adma-Opco) tendered the engineering, procurement and construction (EPC) contracts in the first quarter of 2012 and received technical proposals in June. The projects are part of Adma-Opco’s plan to add 300,000 barrels a day (b/d) of additional production from four new offshore fields, with about 100,000 b/d coming from both Umm al-Lulu and Sarb. Adma-Opco received bids from the same group of contractors for Sarb full field development package three on 5 November and Umm al-Lulu full field package one on 6 November, according sources from three bidding companies. The contractors are: Hyundai Heavy industries (South Korea) Leighton Offshore (Australia) McDermott (US) NPCC (UAE) Petrofac (UK) Saipem (Italy) Samsung Engineering (South Korea) Technip (France) Sarb package three covers offshore pipelines and platforms, while Umm al-Lulu package one includes the construction of wellhead towers and platforms. Commercial bids on the much-larger package four of the Sarb full field development, which covers the construction of the project’s main processing plant are expected to be submitted on 26 November. Meanwhile, Adma-Opco has not yet issued a deadline for bids on Umm al-Lulu package two. Adma-Opco is majority-owned by Abu Dhabi National Oil Company (Adnoc), with minority stakes held by the UK’s BP, France’s Total and Japan Oil Development Company (Jodco). Offshore developments are playing a key role in Abu Dhabi’s efforts to increase its crude production capacity to 3.5 million barrels a day (b/d) from today’s estimated 2.6 million b/d. Abu Dhabi’s Zakum Development Company (Zadco) is expected to award an estimated $4bn EPC contract on its Upper Zakum oil field development by the end of the year ================= FACTBOX-UAE oil and gas concessions Wed, Sep 22 03:58 AM EDT Sept 22 (Reuters) - Multinational companies hold large stakes in concessions that pump most of the oil and gas in the United Arab Emirates, the world's third-largest oil exporter. The UAE has said it aims to increase its oil production capacity to 3.5 million barrels per day (bpd) from 2.7 million bpd now and it will be reliant on these concessions for the increase. [ID:nLDE6740HT] The UAE's concessions system allows oil and gas producers to acquire their own equity hydrocarbons from an OPEC country but in return they have to provide much of the investment for new production and agree margins analysts say are very tight by international standards. Following are details of the four largest concessions, with capacity based on official information and industry estimates. ABU DHABI COMPANY FOR ONSHORE OIL OPERATIONS (ADCO) * Capacity around 1.4-1.5 million bpd. * Concession expires 2014. * ADCO has said it aims to boost capacity to 1.8 million bpd by 2017, spending over $5 billion on projects. * Operates onshore and in shallow coastal waters of the emirate of Abu Dhabi. * Oil output is mainly from five fields: Asab, Bab, Bu Hasa, Sahil and Shah. All fields are linked to the storage and shipping facilities located at Jabel Dhana, where tankers load Murban crude for export. * Oil production also comes from four other fields: Jarn Yaphoure, Al Dabbiya, Rumaitha and Shanayel. * Original concession signed January 1939 with Petroleum Development (Trucial Coast). In 1962, the company became known as the Abu Dhabi Petroleum Company (ADPC), and in 1979, it became known as the ADCO. * Equity stakes: - Abu Dhabi National Oil Company (ADNOC) 60 percent - BP Plc (BP.L) 9.5 percent - Royal Dutch Shell (RDSa.L) 9.5 percent - Total SA (TOTF.PA) 9.5 percent - Exxon Mobil (XOM.N) 9.5 percent - Partex Oil and Gas 2 percent. ABU DHABI MARINE OPERATING COMPANY (ADMA-OPCO) * Capacity around 550,000 bpd. * Concession expires 2018 * First offshore oil discovery in Abu Dhabi was made in 1958 at Umm Shaif. Operations focused on offshore areas of Abu Dhabi. * Oil and gas production comes from two major fields, Umm Shaif and Lower Zakum. Crude is transferred to Das Island, for processing, storing and export. * Equity stakes: - ADNOC 60 percent: - BP 14.66 percent - Total 13.33 percent - Japanese Oil Development Co (Jodco) (owned by INPEX (1605.T)) 12 percent. ZAKUM DEVELOPMENT COMPANY (ZADCO) * Capacity 550,000 to 600,000 bpd. * Upper Zakum concession expires 2026, other fields 2018. * Zadco was established in 1977 to develop and operate the Upper Zakum field, which Zadco ranks as the world's fourth largest. It also operates Umm Al Dalkh and Satah fields. * The Upper Zakum concession was extended to 2026. * Equity stakes: - ADNOC 60 percent - Exxon Mobil 28 percent (Exxon stake taken January 2006 as part of plans to boost output from Upper Zakum to 750,000 bpd by 2010 from 500,000 bpd.) - Jodco 12 percent ABU DHABI GAS INDUSTRIES LTD (GASCO) * Set up in 1978, Gasco has the concession to handle gas processing and natural gas liquid extraction operations from the UAE's onshore fields. It draws gas from various fields, including Asab, Habshan-Bab, BuHasa and Ruwais. * The UAE holds the world's seventh-largest gas reserves, at around 227.1 trillion cubic feet, according to BP statistics. Much of the UAE's gas is sour. * The Gasco concession was renewed in April 2009 on a 20-year contract backdated to start in 2008 so is due to expire in 2028. * Equity stakes - ADNOC 68 percent - Shell 15 percent - Total 15 percent - Partex 2 percent OTHER UAE CONCESSIONS * In addition to Adco, Adma-Opco, Zadco and Gasco, the UAE also has a handful of much smaller concessions, including one granted to Occidental Petroleum (OXY.N), but none of them yet produces large quantities of oil or gas. (Reporting by Simon Webb, Christopher Johnson, David Turner, Amena Bakr and Barbara Lewis; editing by William Hardy) ====================== UAE criticizes Iran lawmakers' visit to disputed islands Mon, May 06 10:12 AM EDT DUBAI (Reuters) - The United Arab Emirates criticized on Monday a visit by Iranian lawmakers to Gulf islands near the Strait of Hormuz at the center of a territorial dispute between the two countries, who are both trade partners and strategic rivals. Tension between Shi'ite and Sunni Muslims in a Middle East shaken by two years of political turmoil has sharpened the 42-year-old dispute, complicating an ambivalent relationship in which national pride has vied uneasily with economic pragmatism. About 40 percent of the world's seaborne oil exports flow through Hormuz. Iran threatened last year to block the Strait as tensions rose with the West over Tehran's disputed nuclear program. "The Foreign Ministry strongly condemns and categorically rejects a visit by an Iranian parliament delegation to the islands," the UAE state news agency WAM said. "This visit flagrantly infringes on the sovereignty of the UAE and undermines all exerted efforts towards finding a peaceful resolution for this issue," it said. The islands, Abu Musa and Greater and Lesser Tunb, are claimed by both countries but have been held by Iran since 1971, shortly before the seven Gulf emirates gained full independence from Britain and formed the UAE, now allied with Washington. There was no immediate official comment from Iran. But a report on an Iranian website calling itself the Young Journalists Club said that a delegation of Iranian parliamentarians made a one-day visit to the three islands of Abu Musa, Greater Tunb and Sirri on April 25. Sirri is not claimed by the UAE. Iran says its sovereignty over the Gulf islands it holds is not negotiable but has called for talks with the UAE to clear up "misunderstandings". A senior UAE foreign ministry official met Iran's UAE ambassador to discussed "important issues of mutual concern", WAM said. (Reporting by Mahmoud Habboush and Yeganeh Torbati, Editing by William Maclean and Mark Heinrich)

1 week left for Excalibur to pay!

01-03-13 Re: 1 week left for Excalibur to pay! GKP.L 38 Remember the saying - "let he who is without sin cast the first stone". Well, the more I read this thread, and others similar to it, the more I wonder whether there are some here who will never acknowledge that they have ever done anything wrong or, heaven forbid, made any kind of mistake and had to deal with the unfortunate repercussions. Indeed, it rather looks to me like some will never take responsibility for ANY of their own actions - yet they expect others to take complete responsibility for everything they have ever been involved in. As I have said before, it is very apparent that TK has made some errors of judgement in involving himself with such a dodgy outfit as Excalibur, and his original legal advisers have presumably also made mistakes in failing to exercise the devils that the Wempens have proved subsequently to be.... before they had the chance to bring this apparently spurious case. But as many have said, TK is in that sense only guilty of an error of judgement or perhaps his legal advisers at the time were the guilty ones.Who can really be that sure, especially bearing in mind that several of the Board of Directors including the then Legal & Commercial Director, Iain Patrick, tendered their resignations on 24 July 2007 .... and Tony Peart (the person currently in possession of that title) was not appointed until some time in 2008. It is very apparent to me that GKP was undergoing some fairly fundamental changes in the period when Excalibur were promising much and failing to deliver anything at all, and it is quite possible that there was a failure by someone to ensure all the i's were dotted and t's crossed during that rather tumultuous period in GKP's history. I would therefore not be so quick to cast stones at anyone in particular without knowing precisely what was and was not done at the time. The fact that the apparently vexatious Wempens turned up nearly 3 years later making what appears to be a ludicrous claim against GKP could not easily have been predicted when GKP was nearly 18 months away from even commencing operations at Shaikan(spudded 27 April 2009); and to suggest otherwise is IMHO little more than a JUDGEMENT with the benefit of HINDSIGHT. Presumably, those who make such judgements have never made any mistakes in their lives caused by misplaced trust or lack of due diligence! Furthermore, as we now seem to believe that no-one in their right mind would ever have entered into a contract with someone as clearly unreliable or even downright dishonest as Rex W., perhaps one of TK's detractors would like to explain why it was that the following did do much the same and committed their stakeholders to many of the same problems that TK faced a few years ago... Blackrobe - entered into contract with Wempen and may have lost their stakeholders several million pounds in costs.... perhaps because they did not know about the damaging UBS email trail. Ditto... Platinum. Ditto... Lemos Ditto... anyone else who might have committed funds to assist the Wempens in their dubious cause. Clifford Chance - took on a case which, apart from the huge legal fees, may lead to much reputational damage, and question marks about the choice of actions by one of the partners. . And one final question - do those who constantly seek to pillory TK about his failings while failing to acknowledge his qualities always do the same level of 'due diligence' on other oil exploration companies in which they invest... or is it simply the case that if the SP goes down it is invariably deemed to be entirely the fault of their respective Boards of Directors? Something tells me that, rather like the Wempens, we may spot some 'trends' in their patterns of behaviour... if we were to choose to look a little more closely. AIMHO and please DYOR. GLA, scaramouche ========================= 20-02-13 Change of plan? GKP.L 102 From the December 2012 presentation http://www.gulfkeystone.com/uploads/gulfkeystonepetroleum--kurdistan-iraqog--3december2012.pdf On p.9 we saw that PF-2 would be linked to Shaikan-2, Shaikan-5 and Shaikan-6 and produce up to 20,000 barrels per day. But from today’s RNS: “Shaikan PF-1 will be followed by PF-2, also designed to produce 20,000 barrels of oil per day, in mid-2013. Shaikan PF-2 will be tied to the Shaikan-2 and -5 producing wells, as well as Shaikan-10.” So, SH-10 (which is yet to be spudded) – “The Company plans to spud Shaikan-10, the first development well, and Shaikan-7, the first deep exploration well, targeting the mid to lower Triassic and, potentially, Permian horizons, by the end of Q1 2013” takes the place of Shaikan-6 in the second production facility. Also, there appear to be no details of Shaikan-9, which is presumably another development well, and to my knowledge one that has never been referred to before. So, SH-9 and SH-10 are entirely new, and SH-6 now seems to be earmarked for something else. It therefore looks to me as though plans have changed quite considerably since the December 2012 presentation… most likely in accordance with the FDP which was on schedule to be submitted by the end of January 2013 according to GKP, and which several posters have confirmed that they had been told DID meet this particular deadline. IMHO, it therefore all looks like the path towards significant levels of production is now well and truly under way… impeded ONLY by the politics. AIMHO and please DYOR, GLA, scaramouche ================= 26-02-13 Re: And now.. Albrad & BS GKP.L 30 I wonder if people are slightly mis-reading the latest RNS regarding Todd’s options. This is how I see it, but maybe one of our expert American friends might also like to comment .... TK is exercising 3 million options available to him at a price of 30p, which will cost him £900k. Based on the share price yesterday, when the meeting was held, those 3 million shares would be worth say 3 million x 190p = £5.7 million. So, if sold at that time, they would have created a capital gain of about £4.8 million, on which I believe that high earners in the USA now pay 20% CGT. As a result, TK would need in theory need to find £900k cash to pay for the options and an estimated £960k to pay the likely tax liability at 190p, or £1.86 million in total. Assuming that he does not have the cash readily available that means that he would need to sell about 1 million shares to cover the entire cost. The RNS says that TK “INTENDS to sell 1 million shares… to meet the option exercise price and to discharge his tax liabilities arising from such exercise.” But it does not say by when this will happen. With the American tax year running from 1 January to 31 December 2013 (unlike that of the UK), I am unclear why it would be necessary to take action at this moment. But I assume that it is a form of risk mitigation or indeed risk elimination to guarantee that he is in a position to meet any tax requirements. Presumably, if the share price were to rise appreciably in the short term before the tax falls due, he would need to sell less than that number. But an estimate of 1 million shares neatly covers it even if the price falls to 187p (Perhaps he has been reading Jackozy and does not see any further downside beyond that, given possible news in the pipeline o Is it not therefore an RNS that simply confirms we may see some Director Sells from TK in the near future (who knows, perhaps there were even a few today), and should not be surprised or concerned if/when a confirmatory RNS arises? Of course, it is always possible we may not see one at all, if events conspire to move the SP significantly - but certainly, at the moment, there are no obvious signs of that. I certainly find it interesting that TK has chosen to exercise the options NOW though, and make a request for all 8 million shares to be released from the EBT, as well as that, as KKO has observed, there is no reference to ‘new’ share Awards. Does the change of status on those options and shares perhaps alter the 'rights' associated with them? I am sure there are others here who may be able to clarify this point. Anyway, hopefully, the BoD has listened to shareholder concerns and recognises at least to some degree the fact that we shoulder considerable risk to our capital without yet having seen quite so much by way of rewards. Personally, I would also like to hear an update on what is happening with Akri-Bijeel (PW were appointed ostensibly to oversee its sale just over one year ago), as it might allay most of the 'funding' fears for 2013 that I saw voiced on the board earlier today. AIMHO and please DYOR, GLA, scaramouche. ============== Escovido These awards, whether we like them or not, were decided on a long time ago as they are installments of 2010 and 2011 awards. The selling is minimal to use allowances and or pay tax so the most part I would think is completed by now. This is why they are not having much effect in that they are not a surprise to anyone. Onwards and upwards! =============== kitkatoil Yeah, wait till ILS and the boiler room crew get a hold of this! =============== Perhaps the reason we haven't heard from Mr. Passive-Aggressive is that this RNS has killed his plans for staging a revolt at next AGM... He got the RNS text like us all an hour ago. Wasn't previous share award 'housekeeping' usually combined in the same Board meeting and subsequent market RNS as new remuneration announcements? If so perhaps the BoD heard the message loud and clear last year and are not awarding themselves any new shares (though would be surprised if balance of Exit Awards 10M not touched) this year... Before the begrudgers come out of the woodwork to attack me instead, I repeat emphasis on:Maybe!! We'll find out soon enough. BWTFDIK=But What The Freak Do I Know?. I do find it interesting that he's vesting any (as time for tax planning is gone) but if what Blacksash just said is true, then perhaps that is a very good reason... My question is when did he sell? Last week's short interest spike? GLAll KKO PS: 3M times 30p is £1M (to add to Gram's figures!) and add CGT (£500K+) and income tax on the BIK and that's why he sold 1M... He's not exactly cash rich these days since Ashley took most of it. ============ Iraq Energy Projects is the most important event for people serious about capitalising on Iraq's energy sector, detailing first hand project opportunities across the oil and gas, chemical, power and water sector. Click here to download the conference brochure DO NOT MISS: •IOCs: Shell, Kogas, Lukoil, Petronas, and state owned Midlands Oil Company explain progress in oil and gas production and the real investment challenges, political and legislative barriers in JV structure •Iraq's South Gas Company speakers about Iraq's gas infrastructure development plan and project opportunities for gas export and logistical infrastructure •Critical project update on the Water Supply Injection Project - learn about the status of the project and its potential impact on Iraq's production targets exclusive to MEED's Iraq Energy Projects •Challenge members of the oil and energy committee about policy and discuss issues related to regulation including: •Investment in oil and gas sector •The government's plans for increasing oil production •Infrastructure development and gas monetisation •Waste management and environmental compliance •Future compliance issues for oil companies and service providers Parliamentary committee members include: H.E. 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Register today and start building the crucial relationships you need to achieve your business strategy in Iraq. I look forward to hearing from you shortly. Regards, Edmund O'Sullivan Chairman, MEED Events ============== Talisman Talisman also has properties in Algeria, Sierra Leone and the Iraqi semi-autonomous region of Kurdistan. Kvisle said Kurdistan is particularly promising, and the company will look to prove up its interests there in the near-term before exploring any divestment or joint-venture options. “Kurdistan is one of the most exciting oil structures that I’ve seen in my career. We’re very enthused about the next couple of wells that we’re drilling there,” he said. http://www.news1130.com/2013/03/06/talisman-energy-to-cut-capital-budget-by-25-per-cent-work-on-more-asset-sales ============= Jaafari's office: an agreement between the national and Kurdistan on a legal formula for payments to the oil companies contracting with Kurdistan Date: 22/02/2013 07:39:20 Friday if it was signed and sealed then I'd expect the likes of Genel to spike up first on high volume. They will be the ones to benefit from any major agreements as they appear to be the only ones allowed to produce for now. Strangely enough - Genel is near 6 months lows lol! Not exactly reflecting iraqi progress or the stock market rally in 2013. We've had words and garibaldie meetings for the last 5 years. Hub =========== Hi Spidy, my view fwiw would be to crank it up after final submissions at the start of march. If Mr Pickens referenced Hub during expert witness examination, perhaps he will slip in a calc or two based on your NAV calculator. But then again, if you added a box where you could calculate 30% of faak-all in 2007, plus a -'ve balance sheet figure to show how much Excalibur should have paid GKP back then for their share of costs, then perhaps it would be worthwhile. Not an expert on this - but I would think that 'Excalibur's final submissions' that are to be submitted to the court next week - are 'final submissions' based on evidence that has 'ALREADY BEEN SUBMITTED TO THE COURT' - and nothing else ! victor 384 =======

At least 40 Syrian soldiers killed going home in Iraq

Mon, Mar 04 13:58 PM EST 1 of 8 By Suadad al-Salhy BAGHDAD (Reuters) - Unidentified gunmen killed at least 40 Syrian soldiers and government employees in Iraq on Monday as they headed home after fleeing a Syrian rebel advance last week, Iraqi officials said. Around 65 Syrian soldiers and officials had handed themselves over to Iraqi authorities on Friday after rebels seized the Syrian side of the border crossing at the Syrian frontier town of Yaarabiya. Iraqi authorities were taking them to another border crossing further south in Iraq's Sunni Muslim stronghold, Anbar province, when gunmen ambushed their convoy, a senior Iraqi official told Reuters. No group has claimed responsibility. "The incident took place in Akashat when the convoy carrying the Syrian soldiers and employees was on its way to the al-Waleed border crossing," a senior Iraqi official told Reuters. "Gunmen set up an ambush and killed 40 of them, plus some Iraqi soldiers who were protecting the convoy." A member of Anbar's provincial council, Hikmat Suleiman Ayade, put the number of people killed at 61, including 14 Iraqis who were protecting the convoy. Around a dozen others were being treated in hospital for their wounds, he said. The ambush inside Iraq illustrates how Syria's nearly two-year conflict, with its sectarian overtones, has the potential to spill over its borders and drag in neighboring countries and further destabilizing an already volatile region. Iraq's Anbar province is experiencing renewed demonstrations by Sunnis against the government of Shi'ite Prime Minister Nuri al-Maliki over what they see as the marginalization of their minority and misuse of terrorism laws against them. Syria's rebels are mostly Sunnis fighting to topple President Bashar al-Assad's government, dominated by Alawites, an offshoot of Shi'ite Islam. Some 70,000 people have been killed in Syria and nearly a million have fled the country, the United Nations says. In what could be a new danger for the millions of Syrians who have fled their homes but remain inside the country, rebels pushed into Raqqa on Monday, a city known as the "hotel" of the country after thousands of displaced families fled there. Residents of the northern city, home to half a million people, had pleaded with rebels not to enter the densely built metropolitan area, fearing that Assad's war planes and artillery could target residential areas. NO GUARANTEE The Syrian Observatory for Human Rights, a Britain-based monitoring group, said the Islamist Jabhat al-Nusra and other rebel groups launched the offensive on Saturday and large parts of Raqqa were now under rebel control. Opposition activist photographs showed a burning guard post, men ripping down a poster of Assad and a fallen statue of his late father, Hafez al-Assad, who took power in 1970. Video footage posted on the Internet by rebel groups showed an abandoned prison in what they said was the center of the city, 100 miles east of Aleppo. International powers are divided over Syria, with Russia and Shi'ite Iran supporting their historical ally Assad and the United States and Sunni Gulf countries backing the opposition. Saudi Arabia and Qatar are widely believed to be providing weapons to the rebels, but the United States says it does not wish to send arms for fear they may find their way to Islamist hardliners who might then use them against Western targets. U.S. Secretary of State John Kerry, who said last week that Washington would directly provide medical supplies and food to rebels, reiterated that concern on Monday.

"There is no guarantee that one weapon or another might not at some point in time fall into the wrong hands," he told a joint news conference with Saudi Foreign Minister Prince Saud al-Faisal in Riyadh. "Believe me the bad actors regrettably have no shortage of their ability to get weapons, from Iran, from Hizbollah, from Russia unfortunately, and that is happening," Kerry said. Faisal, without confirming the supply of arms to rebels, said Saudi Arabia would do "everything within its capabilities" to provide "aid and security for the Syrians".

(Additional reporting by Oliver Holmes in Beirut, Kamal Naama in Anbar and Angus McDowall in Riyadh; Editing by Robin Pomeroy)

MIDEAST STOCKS-Dubai's Emaar surges to four-year high; Gulf upbeat

Property speculators' return fuels Dubai bubble fear Wed, Feb 27 09:00 AM EST * Some speculators flipping properties within days * Recalls pre-2008 boom * Government announcements of projects fuel bullish mood * World Expo 2020 bid may be a motive for announcements * Unclear if authorities willing to regulate By Praveen Menon DUBAI, Feb 27 (Reuters) - Property speculators are back in Dubai, aiming to make their fortunes by buying apartments and villas for cash, then selling them within months, weeks or even days. It's a sign, some people fear, that Dubai risks repeating the mistakes of the past. Queues of investors have formed outside the offices of major real estate developers in the past several months, in scenes that recall the emirate's boom days before 2008, when money poured into Dubai property from around the world. That boom was followed by a devastating crash when the bubble burst; inflated residential property prices plunged by more than 50 percent between 2008 and 2011. Dubai was forced to obtain a $10 billion bailout from neighbouring Abu Dhabi. This time around, there are reasons to think that any property bubble will not be as large as the last one; supply and demand have not diverged as much, and government officials have said they will regulate the mortgage industry. But given Dubai's history, renewed signs of exuberance in the property market are grounds for concern. Mario Volpi, head of residential sales and leasing at property consultancy Cluttons in Dubai, warns that an unsustainable bubble could form unless the government steps in. "Many investors who are queuing up for these properties are looking to make a quick buck by flipping them," he said. "We need a rule that perhaps stops selling of property for two years after purchase. Or perhaps some sort of a tax on such sales." RECOVERY Although there a big variations within Dubai's housing market, and many low-end properties are still weak, prices generally hit bottom around the middle of last year. Since then they have recovered impressively, rising as much as 20 percent in prime areas. Some investors among the roughly 100 lining up earlier this month at the downtown headquarters of Emaar Properties , the emirate's biggest developer, were veterans of the last boom. "There is the same excitement in the air...People are buying anything that's being offered by Emaar," said one Pakistani investor, who did not wish to be identified because he did not want to draw attention to his operations. The investors were seeking to buy "off-plan" properties - projects which had been designed but not yet built, and which might be sold on to another owner before construction. And, like the old days, many or most purchases appeared to be in cash.

"No one standing here is buying on mortgage. This is a cash buy business," the investor said.

Ryan Mahoney, chief executive at property brokerage firm Better Homes, said: "In case things get too overheated, I do hope the regulators step in." Individual Dubai property agents handled as many as 30 separate projects at a time during the boom between 2006 and 2008, he said. "Now we handle about two to three and they have not been launched. So, it's still nothing like the days back in 2008, but there is definitely increased speculation in the market." There are some good reasons for the market's recovery. Thanks to a burgeoning tourism sector and its status as a business hub for surrounding regions, Dubai's economy is now recovering strongly, growing at a rate of roughly 4 percent. Political unrest elsewhere in the Middle East is prompting some people to use Dubai as a safe haven for their wealth. It is not clear that supply and demand are getting far out of line. Analysts expect about 15,000 to 18,000 residential units to enter Dubai's market this year and the same number in 2014 - although these numbers may rise as scores of projects, shelved during the crash, are revived. On the demand side, the population of Dubai, now about 2 million, has been growing at annual rates of around 5 percent or more, meaning an addition of about 100,000 people every year, according to official data. Such growth seems able to absorb the projected increase in supply. Also, Dubai currently does not look expensive compared to other international cities. Prime residential space in Dubai now costs around $1,000 per square foot, compared to twice that amount or more in London. REGULATION Other aspects of the property market's recovery are more troubling, however. One major, unresolved question is whether authorities are willing and able to regulate the market to prevent the excessive volatility of the past. Dubai is certainly monitoring the market more closely now than it did before the crash. The Real Estate Regulatory Authority's website provides updates on the progress of projects and the performance history of developers, and a system to hear complaints from investors and tenants has been introduced. But an initial attempt by the United Arab Emirates central bank to curb speculative buying of properties has foundered. In December it introduced caps on mortgage loans as a proportion of the value of properties being bought; three weeks later, after commercial banks complained, it said it would not enforce those rules. The central bank now says it plans to introduce wide-ranging rules for the mortgage market in six to nine months, after consulting the banks. The banks, which are politically influential, have proposed softer caps than the central bank's original intention. As few as 15 percent of Dubai's home purchases are estimated to involve mortgages, so some analysts question how effective mortgage caps would be in heading off speculators. Another concern is the effect of government statements in fuelling the bullish mood in the property market. Prices have taken off in the last several months after the government and state-linked firms announced plans to build a series of spectacular projects, including a development featuring the world's largest shopping mall and 100 hotels, a $1.6 billion island project housing the world's largest Ferris wheel, and a $2.7 billion complex of five theme parks. The statements buoyed the confidence of investors, but details have not been released, and in the past decade, Dubai announced many plans that were later quietly shelved. If the current plans do not materialise, demand for residential property could turn out to be less than hoped. An official at a top construction firm in Dubai, speaking on condition of anonymity because of the commercial sensitivity of his remarks, said concrete construction plans had not yet been made for any of the recently announced projects. "It will be a while before all this translates into work for us or anything starts, if at all," he said. Volpi said the recent announcements might be linked to Dubai's active efforts to promote its bid to host the World Expo 2020, an event which could draw an estimated 25 million visitors. A decision on which country will host the fair is expected this year. "If we get it (the Expo), we have seven years to build all that. If we don't, none of it will ever get built," Volpi said. MIDEAST STOCKS-Dubai's Emaar surges to four-year high; Gulf upbeat Sun, Feb 10 08:42 AM EST By Matt Smith DUBAI, Feb 10 (Reuters) - Dubai's Emaar Properties surged to a four-year high on Sunday as upbeat research reports from international banks bolstered demand from local and foreign investors, while oil price gains helped lift most Middle East markets. Emaar, the Dubai Financial Market's largest listed company, climbed 5.7 percent to 5.01 dirhams, its highest finish since November 2008. Since that peak, Dubai property prices have slumped, ravaging the sector and leading to a slew of cancelled or postponed projects. Emaar has sought to offset this slump by diversifying into retail and hospitality and its shares are up 34 percent in 2013. In a Feb. 4 report, Bank of America Merrill Lynch gave Emaar a buy rating and a target price of 5.3 dirhams, while HSBC's Feb. 7 report set the developer a target price of 6 dirhams and an overweight rating. "We continue to be surprised by the strength in the Dubai property market, on the residential, hotel, and retail side," HSBC wrote. "Supply additions are still a concern but not as much as in the past." Traders say these reports have buoyed sentiment for Emaar, with property prices also bottoming out and even increasing in some districts after declines of about 60 percent from their 2008 peaks. Investors also seem to have shrugged off Emaar's 28 percent drop in fourth-quarter profit. "The market saw a lot of institutional interest in Emaar today, which is mainly due to its potential upside in revenue in 2013 and expectations for high dividend yields," said Marwan Shurrab, vice-president at Gulfmena Investments. "We've been seeing a lot of (analyst) upgrades from major houses and that's helping raise interest from institutional investors abroad, bringing in new cash to our market." Dubai's index climbed 2.2 percent to its highest finish since Nov. 30, 2009 and up 17.1 percent this year. The benchmark now has a relative strength index reading of 75.2 - a value above 70 typically indicates it is overbought - and it followed a similar pattern last year when an early-year surge petered out from early March. Yet 2013's rally appears more convincing, said Sebastien Henin, portfolio manager at The National Investor in Abu Dhabi. "It's very different from last year, which was extremely speculative with movement in penny stocks and high-beta names - this time it's mainly driven by bluechip stocks," he said. Oil price gains - Brent crude hit a nine-month high on Friday - have underpinned foreign interest in regional equities and stocks from the United Arab Emirates in particular. "This will be the main theme in the coming days," said Henin. "We're starting to see sector rotation towards banks - results were pretty good and their dividend yields are extremely attractive in the current world of low interest rates." In Kuwait, late buying helped the main price index rise 0.07 percent, nearing Tuesday's nine-month peak. "Speculation is the driving force behind the appreciation in stock prices," said Naser al-Nafisi, general manager for Al Joman Center for Economic Consultancy in Kuwait. The market slumped to an eight-year low in November as Kuwaitis took to the streets to demonstrate against changes to electoral rules that opponents said would benefit the government and sideline critics. Since then, the political temperature has cooled and shares have rallied, helped by equity buying by state-linked institutions. THURSDAY'S HIGHLIGHTS DUBAI * The index climbed 2.2 percent to 1,900 points. ABU DHABI * The index fell 0.5 percent to 2,894 points. KUWAIT * The index edged up 0.07 percent to 6,293 points. SAUDI ARABIA * The index rose 0.2 percent to 7,012 points. EGYPT * The index climbed 0.2 percent to 5,713 points. QATAR * The index rose 0.1 percent to 8,770 points. OMAN The index advanced 0.2 percent to 5,862 points. BAHRAIN * The index slipped 0.2 percent to 1,086 points.

50 dead in twin Karachi blasts (Abbas Town)

40 dead in twin Karachi blasts Blasts in the Shia-domina­ted Abbas Town area demoli­sh two apartm­ent buildi­ngs. By Web Desk / Reuters Published: March 3, 2013 Firefighters spray water to control a fire in a building after a bomb blast in a residential area in Karachi March 3, 2013. PHOTO: REUTERS .KARACHI: Twin blasts occurred on Sunday evening in the Shia-dominated Abbas Town, Karachi, which left at least 40 dead and over 135 injured, Express News reported. The injured and deceased included women and children. A car containing explosives was detonated at the entrance of Iqra City and demolished two apartment buildings and nearby shops. Bomb Disposal Squad officials determined that a 150kg device was used. Many victims were trapped under the rubble as teams worked to rescue them. Panicked residents had resorted to aerial firing, which made security officials reluctant to approach the site. A suspect was handed over to Rangers by residents of Abbas Town. He was reported to be from Peshawar and told the police that he had two accomplices on back-up. Police IG Fayyaz Leghari said a suicide bomber may have been behind the attack. Chief Minister Qaim Ali Shah announced Rs1.5million in compensation to the families of the victims. The Muttahida Qaumi Movement (MQM) and the Majlis Wahdat-e-Muslimeen (MWM) called for a day of mourning on Monday. The chief minister also announced the same. All markets and schools will be closed on Monday. Public transport will also be suspended. This is the second blast that has shaken Abbas Town in the span of four months. A blast took place in November of last year near an Imambargah in Abbas town, which killed two people and injured over a dozen men, including two Rangers personnel. Karachi main guzashta roz qatilana hamlay main zakhmi honay walay Pak Beherya kay Commander Azeem Haider inteqaal kar gai hain.akbar thahim KARACHI: An official navy spokesperson confirmed the death of senior navy officer Lieutenant Commander Azeem Haider who succumbed to his injuries on Monday, reported Express News. Lt Haider was critically injured after unidentified gunmen opened fire at his car near gate 15 of Karachi Port Trust (KPT) on February 27. According to the police, Lt Haider was shot five times and was admitted to PNS Shifa for treatment and care. He passed away while under treatment at the hospital. Security sources said it was a targeted attack on Haider and all navy officers had been informed of a possible attack earlier. Jackson police has lodged a complaint of the incident; however no suspects have been arrested yet. ============= Karachi blasts: Pakistan flag flies at half mast Transp­ort, busine­ss centre­s, educat­ional instit­utes remain closed in severa­l areas of Sindh. By Web Desk / AFP Published: March 4, 2013 Residents gather in front of a damaged building after a bomb blast in a residential area, a day earlier, in Karachi March 4, 2013. PHOTO: REUTERS KARACHI: Twin blasts in Karachi brought most areas of the country to a standstill on Monday with strikes being observed while the national flag flew at half mast, Express News reported. A powerful blast ripped though Abbas Town in Karachi on Sunday evening, leaving 48 people dead and over 150 injured. The explosion took place in a street lined with apartment buildings and myriad small shops on both sides. Around 200 flats were affected, while 50 of them were completely destroyed by the fire which followed the blasts. The residents were compelled to move to their relatives’ houses. The Bomb Disposal Squad (BDS) continued with their operation Monday morning to find more evidence from the blast site. Transport, businesses, educational institutes and petrol pump remained closed in Karachi, Hyderabad, Jamshoro, Sukkur and Jacobabad. The Punjab government also called for a one-day mourning to be observed today. On Monday, the stock market was open, but Mohammad Sohail of brokerage firm Topline Securities said there were fewer dealers and trading volumes were low. The strike in Karachi was called by Jafaria Alliance and was supported by several political parties including Muttahida Qaumi Movement (MQM), Awami National Party (ANP), Pakistan Muslim League – Functional (PML-F), PML-Quaid, and Sunni Tehreek. Local transport and traders’ associations said that they would not be working on Monday. “There will be no public transport on the roads today,” said Karachi Transporters Association chief Irshad Bokhari. Head of the Karachi Traders’ Alliance, Attique Mir also said that shopping centres and malls as well as business activity would remain suspended. Lawyers of Sindh Bar Council and Punjab Bar Council also announced a strike and boycotted activities in several courts. The Lahore High Court will only hear important cases. Three-day mourning was also announced by Shia parties including Jafaria Alliance, Majlis-e-Wehdat-e-Muslimeen, Shia Ulema Council and Quetta Yakjheti Council. Sunni Ittehad Council Chairman Sahibzada Fazal Karim, while speaking to Express News, said that terrorists with an international agenda are in power and are challenging the government’s writ. Stressing on a crackdown against such elements, Karim said the terrorists want Pakistan to disintegrate. “If there is no concentrated effort against them, situation will not improve,” he added. Pakistan Peoples Party (PPP) leader Sharjeel Memon said the people of Pakistan have failed the terrorists by keeping calm. He said the terrorists want to instigate violence between the two sects. The PPP leader further lamented the fact that the “enemies are in disguise and are a part of us.” Police are preparing a list of those killed and are trying to identify the dead with the help of their relatives. Camps for blood and money donation have been set up in different parts of the city to facilitate those affected by the blasts. CM takes notice Sindh Chief Minister Qaim Ali Shah took notice of the incident and formed a six-member investigation team, which will present its report in three days. The chief minister also announced Rs1.5 million in compensation for families of those killed in the blasts, and one million rupees for the injured. He also announced a reward of Rs5 million for anyone who assists the police in identifying or locating the suspects involved in the act. The Sindh governor promised that the government will rebuild the homes and the shops destroyed in the blast. ============== Chief Justice takes suo motu notice 6:27 PM PST Funeral procession participants come under fire near Sohrab Goth Seven people injure­d as a result of firing. By Web DeskPublished: March 4, 2013 People attend funeral prayer who were killed in bomb attack, a day earlier, in Karachi March 4, 2013. PHOTO: REUTERS KARACHI: Just as participants of the funeral procession started returning to the residential complex in Abbas Town, they came under heavy fire at Al-Asif Square near Sohrab Goth with at least three people injured, Express News reported. Express News correspondent Nadeem Ahmed said that heavy firing by unknown men was underway at Sohrab Goth from “all sides.” He said that at least seven people had been injured as a result of the firing. Some buses and vehicles had also been torched on the highway. The government announced that pillion riding will be banned from midnight on March 4, 2013. A crackdown against banned organisations will also be launched. Funeral prayers for Abbas Town victims Funeral prayers of people who were killed in Sunday’s twin blasts in Abbas Town were held earlier today. The funeral prayers were led by Maulana Shaikh Salahuddin. A large crowd turned out for the funeral prayers. The dead were buried at the Wadi-e-Hussain graveyard in Karachi. Earlier, funeral prayers of six of the dead were offered at Shuhada Karbala Imambargah in Ancholi. As many as 48 people were killed and 140 people were injured when two bombs went off in a residential complex in Abbas Town, Karachi on March 3, 2013. On the request of Karachi Traders Association, the Shia Ulema Council called off the strike, while Karachi Transport Ittehad also decided to end transport strike. MNA Shazia Marri turned away When MNA Shazia Marri arrived at Abbas Town on Monday afternoon — apparently for recording of a show — incensed area residents forced her car to turn back. Express News bureau chief Akbar Ali said that at first the area residents thought the Marri had arrived to condole with them. When they saw that the MNA was there for recording a programme, they forced her entourage to turn back. Some angry members of the crowd slapped Marri’s car as it made its way out of the area. This is a developing story and will be updated accordingly ============ KHI: 27-Feb Ko Kemari Me Zakhmi Hone Waly Lt. Commander Syed Azeem Hasan Shaheed. Namaz E Janaza Aaj Bad Namaz E Zohrain Masjid e Yasrab Defence Me Hogi. Abbas Town Blast Me Zakhmi Hone Wali Khatoon Fatima Liaqat National Hospital Me Shaheed Hogae. …………………………………………………………………………………………………………………………………… END OF LIVE UPDATES …………………………………………………………………………………………………………………………………… 8:40pm Chief Minister Qaim Ali Shah announced Rs1.5 million in compensation for the families of the blast victims, Express News reports. President Asif Ali Zardari phoned the chief minister to get details on the blasts. …………………………………………………………………………………………………………………………………… 8:25pm Death toll has now gone up to 20, while the number of the injured has increased to 70, Express News reports. Some gas lines in the area have leaked due to the blasts. Sui Gas teams are in place to work on them. The fire in the area has largely been brought under control. The blasts were reported to have been heard from nearly 10 kilometres away. Over 20 shops were also damaged in the blasts. …………………………………………………………………………………………………………………………………… 8:20pm Rescue teams are unable to bring heavy machinery into the affected area because of the narrow roads of Abbas Town, Express News reports. Young volunteers continue to assist the rescue teams in their operation. …………………………………………………………………………………………………………………………………… 8:13pm The death toll has risen to 16, Express News reports. More than 40 flats have been destroyed. Rescue teams are still working to remove people from under the rubble. Residents of the area have brought emergency lights and have turned on their car headlights to assist rescue teams, because of the loss of electricity. …………………………………………………………………………………………………………………………………… 8:05pm The dead bodies are not recognisable and the injured are in critical condition, Express News reports. Rescue workers predict that the death toll will continue to rise. The fire on the 3rd and 4th floors of the affected building have been extinguished. …………………………………………………………………………………………………………………………………… 8:00pm The number of people trapped under the debris cannot be determined by rescue teams, Express News reports. The fire is the main hindrance to the rescue operation, but security officials are also reluctant to approach the site because of angered residents who have taken up arms. A police mobile used to be posted at the entrance of the residential area, but since it was inadequate, residents had appointed personal guards for their safety. …………………………………………………………………………………………………………………………………… 7:52pm The fire brigade is trying to douse the fire and remove victims from the affected flats, Express News reports. 30 to 40 flats reportedly damaged. The area was reported to have lost electricity. KESC tweeted that teams had been dispatched to the site to restore electricity. …………………………………………………………………………………………………………………………………… 7:45pm The death toll has now increased to ten, Express News reports. The first blast occurred after a car containing explosives arrived near the Paradise apartments in Abbas Town. The fire brigade is still trying to contain the fire. Among the chaos, the panicked public has resorted to aerial firing. Emergency has been declared in hospitals. …………………………………………………………………………………………………………………………………… 7:40pm The five deceased include one woman and one child, Express News reports. The number of the injured has risen to 60. Civilians are assisting rescue teams at the site of the blasts. Some people are still trapped under the rubble. Four hospitals are being used to treat those who were injured in the twin blasts. …………………………………………………………………………………………………………………………………… 7:35pm Death toll has increased to five, which include women and children, Express News reports. The death toll is likely to rise, according to reports. Women and children were reported to be among those injured in the blasts. Two buildings were completely destroyed during the explosions. 20 flats were demolished. The residents of the area are predominantly Shia Muslims. Rescue teams have arrived to the scene. …………………………………………………………………………………………………………………………………… 7:28pm The process of shifting the injured to hospitals is still ongoing, Express News reports. The Bomb Disposal Squad is still on their way to the site to determine the cause of the blasts. Police and security officials have cordoned off the area. …………………………………………………………………………………………………………………………………… 7:20pm Two people have died and 18 have been injured, Express News reports. All of those injured in the blasts have not yet been shifted to hospitals. …………………………………………………………………………………………………………………………………… 7:10pm A second blast was heard in Abbas Town. Windows of nearby buildings reportedly damaged. The blasts were reported to have occurred on Abul Hasan Isphani Road. Both blasts occured at the entrance of Iqra City. Witnesses reported seeing a cloud of smoke rising from the site of the blasts. …………………………………………………………………………………………………………………………………… 7:00pm The first blast was heard in Abbas Town. Initial reports suggest that it was due to a planted IED. Rescue teams were alerted and had left for the site. ========== Sameer_jafri terrible blast happened in Karachi, but our nation is busy in enjoying the match #nofeelings 25 seconds ago · reply · retweet · favorite DrAshrafChohan @MehrTarar scars of 2nd WW are still apparent around the globe and it takes generation to normalise after civil wars. #Karachi 16 seconds ago · reply · retweet · favorite 15 new tweets rjrajajeepmln Nawaz Sharif has protested strongly against the bomb blasts on Isphahani Road, Abbas Town. Karachi's situation is of grave concern. 38 seconds ago · reply · retweet · favorite YusraSAskari RT @khalidkhan787: Some apartments have caught fire after blast #Karachi 30 seconds ago · reply · retweet · favorite Rifness @furkanzafar someone from karachi Lagta hai. Lol 24 seconds ago · reply · retweet · favorite EcellesCarson Blast reported in Karachi: Blast reported in Karachi ... bit.ly/ZZcmuP 17 seconds ago · reply · retweet · favorite 23 new tweets A_Rizvi110 After killing 100s in #Quetta recently! Banned outfits ASWJ-LeJ strikes in #Karachi! Twin blasts in AbbasTown #ShiaGenocide @DrAQ_Khan 42 seconds ago · reply · retweet · favorite AIiRaza Chalo bhai 3 din Karachi bandh hoga, 1 din quetta bhi laga lo .. #sit-ins would be trending for next two days!

Shi'ite fighters rally to defend Damascus shrine

Shi'ite fighters rally to defend Damascus shrine Sun, Mar 03 10:23 AM EST By Mariam Karouny BEIRUT (Reuters) - Shi'ite fighters from Iraq and Lebanon have joined fellow Shi'ite Syrian gunmen to defend a shrine south of Damascus which they fear is threatened by Sunni rebels battling President Bashar al-Assad. The presence of Shi'ite combatants from neighboring states - confirmed by sources in Iraq and Syria and highlighted in videos glorifying their mission - underlines how Syria's conflict is inflaming sectarian feelings in the region. Abu al-Fadl al-Abbas brigade, named after a seventh century martyr son of Imam Ali who is considered the father of Shi'ite Islam, was formed several months ago and fights mainly around the shrine of Sayyida Zeinab on the southern outskirts of the Syrian capital, a source close to the brigade said. Abbas's sister Zeinab is buried in the gold-domed mausoleum, intricately decorated with blue ceramic tiles and surrounded by a white marble courtyard which used to fill with pilgrims before the uprising against Assad erupted and grew into a civil war. The source said the brigade was set up in response to the perceived danger to the shrine and mosque from Sunni fighters who desecrated other places of worship for Shi'ites, who are a minority in Syria. "They are there for one purpose and that is to defend the shrine," he said, adding they were operating independently of Assad's forces around the capital. He said Iraqi fighters at Sayyida Zeinab were motivated partly by the desire to prevent a repeat of the wholesale sectarian violence that followed the 2006 attack on the Iraq's Shi'ite Imam al-Askari mosque, blamed on al Qaeda, which cost thousands of lives, both Sunni and Shi'ite. Syria's conflict has already attracted hardline Sunni fighters some from Afghanistan, Libya and Chechnya, many of whom consider Shi'ites infidels and their shrines as non-Islamic symbols of paganism which should be torn down. A video posted online two months ago showed Sunni Muslim rebels burning a husseiniya - a Shi'ite religious site - in Syria's northern Idlib province, one of several recent attacks against properties associated with religious minorities. An Iraqi Shi'ite official said Iraqi Shi'ites - some of whom had lived in southern Damascus since fleeing Iraq's own violence - started to mobilize last summer in response to rebels in the area he described as "hardliners and Salafis", referring to the ultraconservative school of Sunni Islam. Rebels "wanted to destroy the Sayyida Zeinab shrine and hundreds of Iraqi Shi'ites who were already living in Syria stood up to them and fought back," he told Reuters from Iraq. "Now they are more organized, under the Abu al-Fadl al-Abbas Brigade," he said. Sources close to the brigade say it is divided into smaller groups named after the 12 Shi'ite imams and is mainly composed of Iraqi, Lebanese and Syrian Shi'ites. The brigade is still made up mainly of Iraqis, the official said, though he said they came to Damascus individually and not under the auspices of the state or any organization. Rebels accuse Lebanon's Hezbollah, an ally of Assad, of fighting alongside his forces. The group denies the accusations and says only that its loyalists are fighting in border villages to defend Shi'ites there. "CUT OFF THE HANDS" The brigade has put out two videos that play heavily on the historical feud between Sunnis and Shi'ites. The first, called "O Zeinab", shows the shrine damaged with a chandelier on the floor. "We will cut off the hands of the perpetrators," says a chant on the soundtrack. The videos mix recent footage of the current conflict around Sayyida Zeinab with scenes from a drama portraying Abbas's death in 680 AD at the hands of the Damascus-based Umayyad Caliph Yezid's army at the battle of Kerbala, in modern-day Iraq. Those images reinforce the sense of a conflict that transcends state borders. While Shi'ites form barely 2 percent of the population in Syria, they are a majority in Iraq and Iran and a strong force in neighboring Lebanon - countries where sympathy for Syria's Shi'ite and Alawite minorities runs deep. "The Umayyad descendents are back with their injustice, O Zeinab," chants an Iraqi-accented voice in the first video, released in December. Fighters in camouflage uniform, their faces blanked out, fire rocket-propelled grenades and shoot automatic rifles during apparent street battles. Some take up sniper positions, and all of them seem well-trained. Destruction and piles of rubble can be seen in front of closed shops. It ends with a black-clad Zeinab addressing Yezid. "You will not succeed in erasing our memory," she says. In the second video released this month the chanter says: "We will not allow (Zeinab) to be captive twice," a reference to her capture after the battle of Kerbala. One of the fighters filmed in the first video is shown in the second, this time with his face uncovered - because he has been killed in battle, becoming "a martyr defending Zeinab". At least six fighters are seen shooting from a roof while others are seen praying inside the shrine. The tone of the video is more defiant, the "enemy" now mentioned by name. "If we receive the order ... we will turn things upside down and burn Damascus," it says. "You Free Army (the rebel army name) get ready. We are coming, we are coming." The anger on display is mirrored on social media by Sunni fighters and reflects the deepening rifts across Syria between majority Sunnis, Alawites and Shi'ites who are being driven further and further apart by the violence. In a video posted on YouTube last July a Sunni commander warns residents of the northern village of Binnish not to deal with Shi'ites in neighboring villages, warning that even trading bread or other goods with them is punishable by death. "The people of Foa (village) are Shi'ites and they are our enemy across the globe. Understand this. Whoever deal with them even if it is a grain, a single grain of wheat, his punishment will be the same," the rebel commander says, to the chants of Allahu Akbar (God is greatest). "I swear, I swear, I swear - if it is proven that a man from this village is dealing with them I will kill him at the door of the mosque," he said. (Editing by Sonya Hepinstall)