By Patrick M Schmidt. For over a week, the oil pipeline from Kurdistan to Turkish port facilities has been shut off. Government officials have stated that all the available storage tanks are full of Kurdish oil and remain in holding for when shipment continues. "The flow has stopped. It's been around a week. The tanks […]
By John Lee. As part of his statement to the AGM of Petrel Resources, Executive Chairman John Teeling made the following comment on the company's operations in Iraq: "Petrel has a 5% full free carry on the interests held by Oryx in the Wasit province of Iraq. "This is held via a 20% shareholding in […]
It's a well-known fact that Iraq Business News has the best-informed and most influential readers - you! Now we want to hear your opinions about the current state of the country: How easy is it to do business? How is the security situation affecting you? And who do you think will lead it for the […]
After months of remaining out of public knowledge, the buyer of Kurdish oil in America has been revealed. The chemical firm LyondellBasell purchased two tankers worth of Kurdish oil in May. The shipments totaled nearly 533,000 barrels of oil and at the time did not result in any legal action. Data retrieved from the U.S. […]
The State Department has made a determination approving a possible Foreign Military Sale to Iraq for aviation sustainment support, on-the-job maintenance training and maintenance advice and associated equipment, parts, training and logistical support for an estimated cost of $500 million (583 Iraqi dinars). The Defense Security Cooperation Agency delivered the required certification notifying Congress of […]
A crude carrier chartered by LITASCO (LUKOIL's international marketing and trading arm) arrived today (Wednesday) in South Iraq's port of Basra to receive the first batch of oil as part of the recovery of LUKOIL's costs from phase one (“Early Oil”) of the West Qurna-2 project. The vessel will spend several days in the port […]
The US State Department has made a determination approving a possible Foreign Military Sale to Iraq for AGM-114K/N/R Hellfire missiles and associated equipment, parts, training and logistical support for an estimated cost of $700 million (816 billion Iraqi dinars). The Defense Security Cooperation Agency delivered the required certification notifying Congress of this possible sale on […]
The KRG Minister of Natural Resources, Ashti Hawrami (pictured), commented today (Wednesday) on the Iraqi federal government’s petition to a US court to seize crude oil produced in the Kurdistan Region. “The KRG’s lawyers sent a letter to a court in Texas to explain the misrepresentations of the Iraqi federal government. The Iraqi federal government […]
By Patrick M Schmidt. Despite a ruling yesterday that allowed United States Marshals to seize Kurdish oil onboard the United Kalavrvta, a federal judge overturned their own decision. Given the distance of the tanker from American shores, the United States Marshals could not have legally seized the cargo. The judge instead suggested that the dispute […]
By John Lee. As port of its operating and unaudited financial results for the second quarter of 2014, Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) has given the following update on its operations in Iraqi Kurdistan: "In the Topkhana Block, testing continues on the T-2 well and is expected to be complete in the coming days. "In […]
By Anne-Laure Barbosa at Constellis Consulting Amid worsening levels of violence owing to the increase in direct clashes between the ISF and ISIS militias, Iraq witnessed movements in the political sphere with the election of a new President. Fouad Massoum, a Kurd member of the Patriotic Union of Kurdistan (PUK) put forward by the Kurdish alliance, […]
By Patrick M Schmidt. The Kurdistan Regional Government (KRG) has announced that they will pursue a new energy contract with Iran. It is expected that this contract will be similar to the current one with Turkey. Sherko Jawdat, Head of the Industry and Energy Committee, said, “strong oil and economic relations with Iran are part […]
