DNO Issues Update on Tawke Operations
DNO International, operator of the Tawke license in the Kurdistan Region of Iraq, has today issued an update on operations: DNO has completed testing of the Peshkabir-1 well and is preparing to submit a discovery notice pursuant to the terms of the production sharing contract covering the Tawke license. Drilled to a total depth of […]
Iraq's Oil Revenues Down 17.6% in June
Iraq's oil revenues dropped by 17.6 percent from May to June due to plummeting prices in the international market and the diversion of some production to meet domestic needs. Oil Ministry spokesman Assem Jihad said Iraq earned $6.453 billion from 72,090 million barrels exported in June at an average price of $90 per barrel, compared […]
ShaMaran Petroleum Jumps 8% on Kurdistan Update
Shares in ShaMaran Petroleum jumped over 8% on Thursday following an update on operations the Atrush and Taza blocks in Iraqi Kurdistan: Taza ShaMaran reports that the Taza-1 well, located in the Taza PSC in the Kurdistan Region of Iraq, commenced drilling on July 3, 2012. The Taza prospect is located approximately 80 kilometres southwest […]
Work to Begin on Duhok Airport in 2 Months
The Kurdistan Region's Prime Minister, Nechirvan Barzani (pictured), has announced that the foundation stone for the new Duhok Airport will be laid within two months. AKnews reports that he said that his government will soon begin building hospitals in the city, town and districts of Duhok. The news comes after Barzani's meeting with Duhok governor […]
flydubai Grows Iraqi Network with new Basra Route
flydubai, Dubai’s innovative low-cost airline, has added another Iraqi destination to its network, with four-times weekly flights to Basra scheduled to begin on 8 August 2012. Basra joins the capital, Baghdad, plus Najaf, Sulaimaniyah, and Erbil, swelling flydubai’s Iraqi route map to five points, one of the most comprehensive networks to Iraq in the region. […]
Iraq's Cabinet Busy Promoting the Country Abroad
While some have criticised the political stagnation in Iraq, it has to be said that the Cabinet has been very active in hitting the road to promote the country on the international stage. Just look at this sample of countries visited in the past two weeks: Iraqi Deputy PM Visits Azerbaijan Iraq Welcomes Singaporean Businesses […]
KRG to Sell Gas Directly to Turkey
The Kurdistan Regional Government's (KRG) Minister of Natural Resources, Ashti Hawrami (pictured) has said the Region is planning to sell natural gas directly to Turkey in the next two years. According to a report from AKnews, he told the Caspian Gas Forum in Istanbul that the Kurdistan Region may sell natural gas to Turkey even […]
Cabinet Approves $9.4bn Supplementary Budget
Iraq's cabinet has approved a supplementary budget for 2012 of 10.875 trillion Iraqi dinar ($9.35 billion), in addition to the $100.5 billion package agreed by parliament in February which was based on an average world oil price of $85 a barrel and crude oil exports of 2.6 million bpd. According to Reuters, budgetary matters usually […]
Weekly Security Update for 4th July 2012
By Gary Sandiford, Olive Group's Dubai-based assessments manager. Olive Group is a leading provider of security and technology solutions and has operated continuously in Iraq since 2003. Overview Olive Groups Iraq statistics are drawn from multiple sources, including media reporting and direct liaison with in country assets. Included within the statistics is a degree activity […]
Switzerland’s ABB wins $120m Power Station Contract
ABB, the leading power and automation technology group, has won orders worth around $120 million from KAR Construction and Engineering Company Ltd. to design and build a power plant and construct two 400/132 kilovolts (kV) high-voltage substations that will supply power to the Kurdistan region of Northern Iraq. The 640 megawatt (MW) open cycle power […]
Video: Deputy PM Shahristani on Oil Strategy
Iraq's Deputy Prime Minister with responsibility for Energy, Hussain Al-Shahristani, talks to CNBC about the oil price, the risk of Iran shutting the Strait of Hormuz, and the possibility of rehabilitating the pipeline from Iraq through Saudi Arabia. (Source: CNBC)
Iraqi Deputy PM Visits Azerbaijan
Iraq's Deputy Prime Minister for Economic Affairs, Rowsch Nouri Shaways, has led an Iraqi delegation to Azerbaijan. The country's Head of State, President Ilham Aliyev, pointed out Iraq and Azerbaijan have great history of bilateral relations, adding that both countries support each other within international organizations. According to a report from Azerbaijan's Trend news agency, […]