Genel Energy has issued an update on oil reserves and resources across its portfolio. Bill Higgs (pictured), Chief Executive of Genel, said: "The quality of our reserves is the foundation of our resilient business model, providing us with low-cost production that can generate cash for many years to come. "Drilling at Sarta this year has […]
Gulf Keystone Petroleum (GKP) has provided a Competent Person's Report ("CPR") update on the Shaikan Field in which it has an 80% working interest. The CPR, an independent third-party evaluation of the Company's reserves and resources as at 31 December 2020, was prepared by ERC Equipoise ("ERCE"). Jon Harris, Gulf Keystone's Chief Executive Officer, […]
DNO ASA, the Norwegian oil and gas operator, has announced it replaced 87 percent of 2020 production through additions to its proven (1P) reserves notwithstanding reduced activity in the wake of low oil prices. In the Kurdistan region of Iraq, the Company replaced 111 percent of last year's production through additions to 1P reserves. Yearend […]
An agreement signed during the Iranian Judiciary chief's recent visit to Iraq entails setting up specialized courts with jurisdiction over economic and trade disputes involving the nationals of the two countries, an official said. Speaking at a televised interview on Saturday night, Head of the Iranian Judiciary's High Council for Human Rights Ali Baqeri Kani […]
By John Lee. Iraq's Minister of Oil has his Ministry's goal is to support the Ministry of Electricity to have 20 gigawatts of solar energy capacity installed by 2030. In a promotional video issued by the Government of Iraq, Ihsan Abdul Jabbar added that the recently-announced partnership with French energy company Total will include the […]
GE partners with Kapita to drive growth of Iraqi entrepreneurship ecosystem As part of its ongoing commitment to support Iraq and its people through the acceleration of socio-economic progress, GE has partnered with Kapita, a grassroots entrepreneurship organization to launch the 'Iraqi Microbusinesses' initiative - "Takaat" in Arabic. Through the new partnership, GE will support […]
By John Lee. Iraq has reportedly taken delivery of its first batch of rail tankers from Turkey. According to Daily Sabah, the first 50 units, manufactured by Cryocan, were sent by truck, with a further 400 units still to be made. The tankers will be used by Iraq Republic Railways (IRR) to transport oil and […]
The Higher Committee for Health and National Safety held a meeting on Saturday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. The Committee reviewed the latest Covid-19 related developments and agreed several measures to address the recent rise in the number of cases in Iraq. The measures include: Imposing a total curfew on Friday, Saturday […]
By John Lee. Jordan and Iraq held talks on Saturday in Amman to enhance economic cooperation in various fields, especially trade and investment. According to Jordan Times, the meeting was headed by Jordan's Minister of Industry, Trade and Supply, Maha Al Ali, and Iraqi Minister of Industry and Minerals, Manhal Aziz. More here. (Source: Jordan […]
Iraq Opens Several Border Crossings for Iranian Transit Following the Iranian Judiciary chief's recent visit to Iraq, the Arab country has reopened several border crossings for the shipment of Iranian commodities by land freight. The Iraqi Ministry of Transport has issued an order to reopen a number of border crossings to Iranian trucks after a […]
UN signs financing agreement with the USAID to support UN electoral assistance to Iraq The United Nations in Iraq welcomes the contribution of USD 9.7 million from the USAID to a UN-led project to support and assist capacity-building within the Iraqi Independent High Electoral Commission (IHEC). The USAID funding will also support the deployment of […]
From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Decades of plundering: Where has Iraq's oil wealth gone? Ranked as the fourth-biggest oil producer in the world, many would assume that Iraq has the financial resources to weather the pandemic. But that […]
