GKP Shares Gain following Update
Shares in Gulf Keystone Petroleum (GKP), operator of the Shaikan Field in Iraqi Kurdistan, were trading up 10 percent on Friday after the company issued an operational and corporate update. Highlights Agreement with the Kurdistan Regional Government's ("KRG") Ministry of Natural Resources ("MNR") and MOL Hungarian Oil & Gas plc ("MOL") has been reached in […]
Oryx: Successful Appraisal Well at Banan Field
Oryx Petroleum Announces Successful Appraisal Well at the Banan field Oryx Petroleum has announced an update on the drilling of an appraisal well targeting the Tertiary reservoir at the Banan field in the Hawler license area in the Kurdistan Region of Iraq. As at December 31, 2017, 26 million barrels (“bbl”) of unrisked gross (100%) […]
Petrel Resources takes €4.1m Impairment on Iraq
By John Lee. Irish-based Petrel Resources has taken a €4.1 million impairment of its investment in Iraq: "In August 2013, Petrel did a deal with Amira in Iraq whereby, for US$500,000 in cash plus 18,947,368 initial consideration shares (which were to be locked-in until spudding of the first oil well by our partners), Petrel acquired […]
New Career Opportunities in Iraq
By John Lee. The United Nations has advertised new positions in Iraq: Programme Officer, UNOPS - United Nations Office for Project Services Information Management Officer (Child Protection), UNICEF - United Nations Children's Fund Information Management Officer (Education), UNICEF - United Nations Children's Fund Mechanical Technician/Operator, Mines Advisory Group (MAG) Temporary Resident Program Manager, National Democratic […]
New Career Opportunities in Iraqi Kurdistan
By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Junior-Berater Stabilisierung der Lebensgrundlagen, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) Information Management Associate (ETC), WFP - World Food Programme IT Solutions Associate (Beneficiary Services for Partners), WFP - World Food Programme Security Assistant, WFP - World Food Programme International Value Chain Specialist, […]
Supreme Court Confirms Election Re-Count
By John Lee. Iraq’s Supreme Federal Court has reportedly upheld a law mandating a nationwide recount of the votes from May's parliamentary election, which had been ordered following claims from Prime Minister Haider al-Abadi that there had been serious violations. The court has also ruled that the cancellation of votes from people overseas, the displaced, […]
Exxon Out of Desalination Project
By John Lee. Talks between ExxonMobil and Iraq on the multi-billion-dollar Common Seawater Supply Project (CSSP) have reportedly broken down. According to Reuters, the director general of the Basra Oil Company (BOC) told reporters that the BOC will award the contract through a tender process, which it expects to complete at the end of July. […]
UKEF Financed 3 Iraqi Projects last year
By John Lee. UK Export Finance (UKEF) has published its annual report and accounts for 2017 to 2018, in which it lists three export projects supported in Iraq: Enka UK Construction Ltd received letter of credit guarantees and supplier credit totalling £87,910,650 for the construction of a gas-fired power plant for Iraq's Ministry of Electricity; […]
Russian Airline launches Moscow-Baghdad Service
By John Lee. Russian airline Red Wings reportedly made its maiden flight to Iraq on Wednesday. This marks the resumption of services between Moscow and Baghdad following the Iraqi War in 2003. The new service will begin with one regular flight per week. (Source: AFP)
Genel, DNO, receive KRG Payment for March
By John Lee. Genel Energy and DNO have said that the Tawke partners have received $62.19 million from the Kurdistan Regional Government (KRG) as payment for March 2018 crude oil deliveries to the export market from the Tawke licence. Genel's net share of the payment is $15.52 million. The Taq Taq partners have received a […]
GKP Receives Further Payment from KRG
By John Lee. Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of $19.7 million ($15.5 million net to GKP) has been received from the Kurdistan Regional Government (KRG) for Shaikan crude oil sales during March 2018. (Source: GKP)
Lake Milh dries up in sign of Worse to come
By Wassim Bassem for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq's favorite lake dries up in sign of worse to come Karbala’s Lake Milh hasn’t seen a lot of visitors in the last few years. Once a popular picnic destination for Karbala […]