Iraq Business News brings you the latest news from Erbil, Kurdistan, Iraq – including Banking, Airlines, Hotels, Property and more.
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. More than a million people could be affected by an upcoming offensive against ISIL, the UN has warned. The country now faces one of the world’s largest number of displaced people at more […]
Mr. Dominique Mas, the new Consul General of the Republic of France to the Kurdistan Region, was received today by the Head of the Department of Foreign Relations, Minister Falah Mustafa. Minister Bakir congratulated Mr. Mas and assured him that the Kurdistan Regional Government (KRG) stands ready to extend to him all the necessary support […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Falling oil prices over the past year has caused a cash crisis in oil producing countries, including Iraq. The fall in oil revenue has exacerbated a political disagreement between federal government leaders in […]
By Simon Kent. Kurdish and Iraqi officials are still thrashing out details of a more sustainable and far reaching oil revenue and exports deal, following the resumption of federal oil exports into the Kurdish pipeline from Kirkuk. Last week, 100,000 bpd of Kirkuk crude from Baba Gorgor, Jambour and Khabbaz, three fields in the giant Kirkuk […]
By Simon Kent. Prime Minister Haidar al Abadi (pictured) has remarked that the resumption of pumping oil into the Kurdish export pipeline from Kirkuk--from 70,000 bpd to an expected 150,000 bpd, is due to preserving the reservoir in one of the world's oldest oilfields. Previously oil was being re-injected by the federal North Oil Company […]
By Simon Kent. Germany have resumed arms shipments to the Kurdish Peshmerga after they were suspended following allegations that some of the arms had been seen on the black market. The latest shipment comes after the Kurdish Regional Government completed an investigation into the allegations and pledged that it would not happen again. Germany has […]
By Simon Kent. Heightening speculation that a new, comprehensive deal may be reached between the Kurdish Regional Government (KRG) and Baghdad over oil exports and revenues, news has emerged that the federal North Oil Company (NOC) is allowing exports of Kirkuk crude via the Kurdish pipeline through Turkey. This could add up to 150,000 bpd […]
By Simon Kent. Two recent reports point to the possibility of an imminent oil deal between Baghdad and Erbil over revenues and exports, following the breakdown of the fourth revenue and exports deal in early 2015. In an interview with Kurdish publication Rudaw, KRG spokesman Safeen Dizayee (pictured) noted that there was a positive view of new Iraqi Minister […]
By Simon Kent. Norway's DNO ASA have launched a new drilling campaign at Tawke, Oilvoice reports. The field, currently producing 117,000 bpd and selling at an average price of $34 per barrel, earned DNO $16 million in profit in the second quarter. DNO Chief Executive Bijan Mossavar-Rahmani (pictured) noted that the profits would help underpin the current new investment. […]
By Simon Kent. Iraq's new oil Minister Jabbar Al Luaibi, who was appointed April 14th, has remarked that the Kurdish Regional Government (KRG) and Baghdad are planning a new oil exports and revenue sharing deal to replace the one which collapsed in early 2015. According to Gulf News, Safeen Dizayee, a spokesman for the KRG also confirmed new […]
Turkish Airlines has commenced direct between Erbil and Gaziantep Airport. Starting today (Friday), roundtrip flights will be operated 2 times per week in both directions. (Source: Turkish Airlines)
UNICEF Ambassador Ewan McGregor visits refugee and displaced children on Iraq frontline UNICEF Ambassador Ewan McGregor travelled to northern Iraq last week to see how the conflicts sweeping across Iraq and Syria are devastating children’s lives. Tens of thousands of children have been killed, injured, separated from their parents, forced to work, tortured and recruited […]
