The following pages show some key slides from Genel Energy's presentation on Thursday. You can also click here to read the statement by the chief executive, Tony Hayward.
Author Archive | Editor
Tags: Genel Energy
LUKoil May Start Production at West Qurna-2 in 2014
LUKoil, Russia's largest private oil company, may start production at the giant West Qurna-2 oilfield in early 2014, according to a report from RIA Novosti. "We will launch [production at the oilfield] at the end of 2013 or at the beginning of 2014," company head Vagit Alekperov said on Wednesday. The Russian company will invest […]
Genel Won’t Buy Gulf Keystone or DNO at Current Prices
Tony Hayward, CEO of Genel Energy, said today that the company will not buy Gulf Keystone Petroleum or DNO International because the entry of ExxonMobil into the region has forced up prices, reports Bloomberg. “It’s too expensive for us ... What changed is Exxon coming in. We don’t need any more Kurdistan.” "We are not […]
Saudis Appoint First Envoy to Baghdad in 20 Years
Saudi Arabia has named an ambassador to Baghdad for the first time since Saddam Hussein invaded Kuwait in 1990, Iraqi Foreign Minister Hoshiyar Zebari (pictured) told Reuters on Tuesday. "This is a very positive development," he added. A Saudi Foreign Ministry spokesman said: "We nominated our ambassador in Jordan [Fahd al-Zaid] as ambassador for Iraq […]
Tags: Saudi Arabia
Transparency and Integrity Board Launched in Kurdistan
The establishment of a new transparency board to promote integrity and anti-corruption practises in Kurdistan was announced on this week, according to AKnews. The so-called Transparency Development and Impeachment Board will investigate government conduct, identify shortcomings and inform the relative bodies. Husam Barzinji [Hisam Hakim Barzinji], the General director of the Kurdistan Economic Development Organization, […]
Oil Ministry Denies Changing Site for Karbala Refinery
The Iraqi Oil Ministry has denied any changes to Karbala's refinery, as reported by its spokesman. Asim Jihad told Aswat al-Iraq that all agreements on Karbala's refinery site were set with the Transport Ministry, and denied reports that the site had been changed due to its proximity to Al-Furat Airport. Karbala's Energy and Fuel Commission […]
A Good Week for the Iraqi Oil Industry
The past seven days have been exceptionally good for the oil industry in Iraq. The big news for many was the announcement that WesternZagros Resources has struck oil at its Mil Qasim-1 exploration well in Kurdistan; and if you don't know where Mil Qasim is, and what fields are in the same area, you can […]
30% Increase in Foreign Company Registrations in Kurdistan
About 400 foreign companies have opened branches and representation offices in the semi-autonomous Kurdistan Region to expand their business in the fast-growing investment market here, Kurdistan Regional Government’s (KRG) Minister of Trade and Industry said. AKnews reports that about 430 foreign companies registered in 2011 to do business in Kurdistan – an increase of about […]
Iraq Boosts Oil Export Capacity
This article was written by Ali Sarhan, and was originally published by the Institute for War and Peace Reporting, iwpr.net. It is reproduced by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A plan to triple Iraq’s oil exporting […]
First International Trade Fair in Kirkuk
The first international trade fair has been opened in the city of Kirkuk, north east of Baghdad, with dozens of foreign companies participating, according to AKnews. The three-day fair that was opened by Kirkuk governor Najmaddin Karim on Tuesday brought together about 100 foreign and local companies. Kamil Salayi, mayor of Kirkuk, told AKnews that […]
Tags: Kirkuk, trade fairs
Al-Qaeda Believed to be Behind Iraqi Dinar Racket
AKnews reports that businesses and currency traders are rejecting 10,000 dinar notes because of rumours about the increasing spread of counterfeit currency. Government sources said last year that an estimated 7 billion dinars worth of forged 10,000 notes came into Iraq from Iran. The fake currency is said to is said to be of high […]
Kirkuk to Spend $160m on 3 Power Plants
A member of Kirkuk Provincial Council has announced that there new power plants will soon be installed in the province. Fuad Hussein said the decision was made after the deputy electricity minister met the Council. An Iranian company will install two 196MW plants in Dubiz district, while a South Korean company will install the other 293MW […]
Tags: Electricity In Iraq, Kirkuk