Tag Archives | KRG

Kirkuk Council reportedly files Oil case against Iraq Govt

Kirkuk Governorate Council has reportedly filed a complaint at the Iraqi Supreme Court against the federal government for taking unilateral steps on the governorate’s oil. A press report on February 19 cited three moves that it said Baghdad has taken without consultation with local government: An agreement with British Petroleum (BP) to develop Kirkuk oil […]

KRG pays Genel under Receivable Settlement Agreement

Genel Energy plc has announced that it has received an override payment of $7.05 million from the Kurdistan Regional Government (KRG). The payment represents 4.5% of Tawke gross field revenues for the month of November 2017, as per the terms of the Receivable Settlement Agreement.  Taken together with the monthly entitlement payments for Taq Taq […]

Genel Energy gets more time for Gas Project

Genel Energy has announce that it has agreed with the Kurdistan Regional Government (KRG) a 12 month extension to the schedule for satisfying the conditions precedent (‘CPs’) contained within the Gas Lifting Agreements (‘GLA’s) for the Bina Bawi and Miran fields signed in February 2017. The revised date by which the CPs are to be […]

New EU Strategy on Iraq

By John Lee. The European Union has adopted a new strategy on Iraq, following the joint communication by the High Representative and the Commission on elements for an EU strategy on Iraq adopted on 8 January 2018. Among other items, the EU called on the Government of Iraq and the Kurdistan Regional Government to engage […]

GKP to Invest Further in Shaikan

Gulf Keystone Petroleum (GKP), operator of the Shaikan Field in the Kurdistan Region of Iraq, is today providing an operational and corporate update. This is in advance of the Company’s full year results for the period ended 31 December 2017 which are expected to be announced on Wednesday 11 April 2018. The information contained herein […]

Genel receives Payment for Taq Taq Exports

By John Lee. Genel Energy has announced that the Taq Taq partners have received a gross payment of $10.10 million from the Kurdistan Regional Government for oil sales during October 2017. Genel’s net share of the payment is $5.55 million. (Source: Genel Energy)

Shaikan Crude Oil Sales Agreement Signed

Gulf Keystone Petroleum (GKP) has announced that a crude oil sales agreement has been signed between Gulf Keystone Petroleum International Ltd (“GKPI”), on behalf of the Shaikan contractors, and the Kurdistan Regional Government (KRG). Under the agreement, the KRG will purchase Shaikan crude oil at the monthly average Dated Brent oil price minus a total […]

KRG approves Reforms in Public Sector Employment

The KRG Council of Ministers recently discussed a number of issues, including the unfortunate events that took place recently in some towns in the Kurdistan Region. The Council stressed that people do have the right to peaceful and civil demonstrations, but expressed concern about the acts of violence perpetrated by some individuals during the demonstrations. […]

Baghdad seeks Concessions before Negotiating with Kurds

By Kamal Chomani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Trying to jump-start discussions with Iraq’s central government, the Kurdistan Regional Government (KRG) in Erbil recently announced it will respect the Iraqi Federal Court’s ecision that the KRG independence referendum was unconstitutional. But Baghdad has amplified its demands for opening a dialogue, which […]

Kurdistan quickly Descending into Chaos

By Fazel Hawramy for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  The Kurdistan region of Iraq is fast descending into chaos, with protests continuing for the third day in some parts of Sulaimaniyah province and security forces using live ammunition […]

Genel Energy confirms Payments for KRI Oil Exports

Genel Energy has announced the receipt of payments from the Kurdistan Regional Government (KRG) for oil sales during September 2017 from the Tawke and Taq Taq PSCs. DNO ASA, as operator of the Tawke PSC, has announced the receipt of $54.32 million from the KRG as payment towards September 2017 crude oil deliveries to the […]