Maersk Announces Deal for 2 Exploration Blocks
The Kurdistan Regional Government has approved Maersk Oil’s acquisition of a 40% non-operating interest in the Piramagrun and Qala Dze Production Sharing Contracts from Repsol Oriente Medio S.A. Repsol will continue to operate exploration activities and also hold a 40% interest. The Kurdistan Regional Government will hold the remaining 20% share of each block. The […]
Turkey makes Oil Find near Iraqi Border
The state-run Turkey Petroleum Co. (TPAO) has discovered oil in the Sirnak province, near the southern border with Iraq and Iran. According to a report from UPI, the company's regional director, Gokhan Akin, said: "The oil at the well is at the value of the neighboring country's [Iraq] oil but the test studies for the […]
Projects Worth $189bn Frozen in Iraq
The deputy head of the Iraqi businessmen’s association, Tariq Saleh, has said that around 600 major projects worth $189 billion are frozen in Iraq due to the government’s failure to enforce a funds management law. He told Al Mada: "[The projects] have simply been stalled or suspended because of the government’s failure to enforce laws […]
Genel Energy: Trading and Operations Update
Genel Energy has issued a Trading and Operations Update in advance of the Company's 2013 full year results, which are scheduled for release on 6 March 2014. (The information contained herein has not been audited and is subject to further review). HIGHLIGHTS Kurdistan Region of Iraq ("KRI") independent pipeline infrastructure complete, exports expected to commence […]
Dragon Oil Updates on Iraq Operations
As part of its trading statement and operational update this morning, Dragon Oil made the following statement on its operations in Iraq: The consortium (Kuwait Energy 70% and operator and Dragon Oil 30%) has secured a drilling rig from the Iraqi Drilling Company (IDC) to spud an exploration well in 1Q 2014. The work commitment […]
Foreign Minister Arrives in Kuwait
Foreign Minister Hoshyar Zebari and his accompanying delegation arrived the State of Kuwait on January 14, 2014. They were greeted at the airport, by the head of the Arab Ambassador Hamid Failkawi and the Iraqi Ambassador in Kuwait Mr. Mohammed Bahr al-Ulum and Kuwaiti Ambassador in Iraq, Mr. Ghassan Al-Zawawi. The delegation will be headed […]
Gaziantep Chamber to Open Erbil Office
Mr. Dara Jalil Khayat, the president of Erbil Chamber of Commerce and Industry, recently received Mr. Radvan Coksoz, Vice President of the Chamber of Commerce and Industry of Gaziantep in Turkey, along with members of the board of directors. The sides talked about ways to strengthen trade relations between the two cities. Mr. Coksoz announced in […]
Iraq Protests Hurt Baker Hughes Earnings
By John Lee. Oilfield services company Baker Hughes Incorporated has warned the markets that it will take a hit of $80 million as a result of the disruption to its operations in Basra. The company said in a statement: "Following the disruption to its business in Iraq during the fourth quarter, Baker Hughes resumed operations […]
McGurk Completes 3-Day Visit to Iraq
Deputy Assistant Secretary for Near Eastern Affairs Brett McGurk completed a visit on Saturday to Baghdad where he met with national and local leaders from across the political spectrum to discuss the security situation in western Iraq. McGurk's itinerary included meetings with Prime Minister Nouri al-Maliki, Speaker Osama Nujaifi, Foreign Minister Hoshyar Zebari, Deputy Prime […]
Barzani Hosts Annual Diplomatic Corps Mtg
The President of the Kurdistan Region, Masoud Barzani, today hosted the foreign diplomats and representatives from international organizations based in the Kurdistan Region in order to discuss the latest political and economic developments in Kurdistan as well as in Iraq as a whole. At the outset of the meeting, the Head of the KRG Department […]
Video: What's Behind the Unrest in Iraq?
From CNN. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Deaths in Iraq are rising; dozens have been killed in the last week alone. CNN's Michael Holmes reports:
Austria to Open Visa Centre in Erbil
The Head of the KRG Department of Foreign Relations, Minister Falah Mustafa, met with Alfred Bratanek, Deputy Head of Mission in the Austrian Embassy in Amman, Jordan along with a joint delegation from the Austrian and Slovenien Foreign ministries, to discuss the opening of a new visa center in Erbil. The Assistant Head of the […]