By Shalaw Mohammed. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Oil smuggling is virtually a tradition in the oil-producing areas of Iraq. And local authorities are trying to prevent it. But, as this tale of oil […]
By John Lee. DNO International, the Norwegian oil and gas company, announced today that it has reached agreement with the Kurdistan Regional Government (KRG) to fully apply the fiscal terms and conditions of the existing Production Sharing Contract (PSC) covering the Tawke license moving forward, replacing temporary arrangements in place since start of operations. The […]
By John Lee. The former Prime Minister of Iraqi Kurdistan, Barham Salih (pictured), has called for the establishment of a joint Iranian-Kurdish industrial company. According to a report from IRNA, Salih, who is the deputy secretary general of the Patriotic Union of Kurdistan (PUK), called for the participation of Iran in establishing an "economic and […]
By John Lee. The KRG's Ministry of Trade and Industry jointly has opened a Project Development Center in Ministry's headquarters. The center, established with the United Nations Assistance Mission for Iraq (UNAMI), is the first of its kind in the Kurdistan Region. According to a report from AKnews, Trade Minister Sinan Chalabi (pictured) said the […]
By John Lee. The KRG's Ministry of Agriculture and Water Resources has decided to ban the importation of fruit and vegetables for a period of five months, reports AKnews. Marketing Director Nouri Ismael told the news agency: "The importation of apples will be banned from August 1 to October 30; pomegranates from August 15 to […]
By John Lee. Sterling Energy has announced its results for the six month period ending 30 June 2012. (Picture: Surface oil seeping from the ground at Sterling Energy's Sangaw North block) Summary Cash as at 30 June 2012 of $114.4 million ($112.9 million net of partner funds), no debt. $7.1 million expected in July from […]
By John Lee. Gulf Keystone notes today's announcement by MOL Hungarian Oil and Gas Plc., the operator regarding the spudding of the Gulak-1 exploration well on the Akri-Bijeel block in the Kurdistan Region of Iraq. Gulak-1 is the fourth exploration well to be drilled on the Akri-Bijeel block and the first exploration well to target […]
By John Lee. Out of tragedy has come triumph for the Khirbit family and the Hameediyah Mushroom Farm, once one of the largest mushroom farms in the middle east. The family revived their business after receiving a grant and technical assistance from the USAID-Inma Agribusiness Program. (Source: USAID-Inma)
By John Lee. Iran will double the number of drilling rigs at the joint Iranian-Iraqi Azadegan and Yadavaran oilfields, according to a report from Bernama. Quoting the managing director of the National Iranian Drilling Company (NIDC), Heidar Bahmani, Iran's Mehr News Agency said there are currently four drilling rigs in operation at the two oilfields […]
By John Lee. An explosion and fire shut two pipelines that transport oil from Kirkuk to the Turkish port of Ceyhan (pictured) on Friday night, and it was unclear when oil would resume flowing. Security sources blamed sabotage by Kurdish separatists for the explosion at 11 p.m. (2100 GMT) on Friday near the town of […]
By John Lee. Syrian rebels have taken control of one of the country's key border crossings with Iraq, but Syria's neighbour has sealed off its end of the crossing and is not allowing refugees to pass through. Iraq has sent an army division to guard the border post, as the war-weary country grows increasingly concerned […]
By John Lee. Reuters reports that a California court has ruled Iraq not liable for the end of two oil-for-food contracts dating from the Saddam Hussein regime. In a divided ruling, the 9th U.S. Circuit Court of Appeals in California said Iraq's current government deserves protection under the Foreign Sovereign Immunities Act of 1976 because […]
