Romgaz to Explore in Kurdistan?
Romanian natural gas producer Romgaz is interested in petroleum resources in the autonomous region of Kurdistan, in northern Iraq. But according to the report from Financiarul, the Romanian news agency, any investment will depend to a great extent on the “very delicate” political situation in this region, deputy general manager Francisc Toth (pictured) said in […]
Britain Should Move Ahead in Iraq and Kurdistan
By Bayan Sami Abdul Rahman, Kurdistan Regional Government High Representative to the UK The Lib Dems are proud of their internationalism. It was one thing to oppose the intervention in Iraq and to continue as mistakes after the fall of Saddam were laid bare, but Iraqis like myself are keen to see your party develop […]
Gulf Keystone Update on Kurdistan Operations
Gulf Keystone Petroleum provided an update on its operations in the Kurdistan Region of Iraq this morning. The shares are down 3% in early trading, but have more than doubled in the past three months, partly on rumours of a take-over. Shaikan Long Term Test Facilities The recently constructed production test facilities near the location […]
More Details on Iraq's Giant Shipping Deal
We reported on Saturday that Iraq's Transportation Ministry has bought 66 ships from 'an international company'. Further investigation shows that the ships will be leased for a 5-year period from the Swiss company Global Refinery. The Swiss firm will also provide extensive training for the Iraqi workforce, including specialized programs for technicians and engineers. "There […]
Basra Investment Boss to Speak at Iraq Mega Projects 2010
Basrah is central to the biggest oil and gas projects that will be taking part in Iraq over years to come and in order for contracts to go ahead, approval and consent is needed from the local authorities for projects to commence. Iraq Mega Projects 2010 Conference & Exhibition, taking place in Istanbul, Turkey, on […]
Has Warka Bank Collapsed?
Speculation is rife that Iraq’s Warka Bank has collapsed, but its managing director said that it has not collapsed but has faced problems due to a recent decision of the Iraqi government to withdraw over $1.6 billion from the bank. Our resident blogger on economic issues, Mark DeWeaver, recently reported on the mysteries of Warka's rights issue. […]
More Lukoil Tenders for West Qurna 2
Lukoil and partners, Statoil and the Iraqi state, have issued four new tenders for construction and energy projects at Iraq’s West Qurna 2 oilfield, according to reports from Reuters. The tenders are for the construction of: an oil export pipeline; a tank farm at Tuba; a power distribution station and an associated gas processing plant; […]
Gulf Keystone Jumps on Rumours of Move to Main Market
Britain's Sunday Telegraph understands that the Iraq-focused oil explorer Gulf Keystone (LSE: GKP) intends to move its listing from London's junior 'AIM' market to the main London Stock Exchange (LSE). With a market capitalisation of over £700m ($1.1bn) it has grown much larger than the market's usual members. A move to the LSE's Official List, […]
Ankara Sides with Baghdad over Kurdish Energy
The new deal between Iraq's central government and Turkey on the Ceyhan pipeline reportedly blocks the export of oil and gas from Kurdistan without Baghdad's approval. Both AKnews and Azzaman report that Turkey's Energy Minister, Taner Yildiz, has agreed not to transport Kurdish oil and gas unless Baghdad agrees. Speaking to AKnews, Ali Hussein Balo, […]
15-Year Ceyhan Pipeline Contract Signed
The Iraqi Oil Minister renewed a contract with Turkey to transport crude oil through the Turkish port of Ceyhan for 15 years, at volumes of more than one million barrels per day (bpd). The deal is expected to strengthen economic relations between Baghdad and Ankara. AKnews reports that Oil Minister Hussain al-Shahristani said in Baghdad […]
New 'Sheraton' Hotel Opens in Basra
The new Sheraton Hotel in Basra was formally opened on Saturday, with a large gathering in attendance. But as we recently reported, the company in charge of building the hotel has run into problems with the tourism board in Basra because the project was not completed on time. The general supervisor of Summar Company, Sara […]
Details of New Iraq/Syria Pipelines
An initial agreement between Iraq and Syria to build a pipeline to the Mediterranean envisions one crude pipeline with a capacity of 1.5 million barrels per day and another with a capacity of 1.25m bpd, an Iraqi government spokesman said yesterday. Ali Al Dabbagh said that the larger of the two pipelines would carry heavier […]