Iraq Business News brings you the latest news from Erbil, Kurdistan, Iraq – including Banking, Airlines, Hotels, Property and more.
By John Lee. Turkish energy minister Taner Yildiz (pictured) has hinted that his country will not sell oil from the port of Ceyhan until there has been an agreement between Baghdad and Erbil. Minister Yildiz noted that the Turkish Petroleum Refineries Corporation (TPAO) does not currently need to move the Iraqi oil in storage, although the […]
By John Lee. Oil companies operating in the Kurdistan Region have so far donated $15 million dollars towards humanitarian aid for refugees from the war in Syria, through an initiative launched by the KRG Ministry of Natural Resources. Thousands of Syrian refugees who have fled to the Kurdistan Region have received help through the donations. […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After around 176 days of a political impasse over power sharing, Iraqi Kurdistan announced that it had started to form its new regional government. Rather significantly, the opposition Change movement […]
By John Lee. Turkish energy minister Taner Yildiz (pictured) has announced that Turkey is ready to market oil from the Kurdish region, currently stored at the port of Ceyhan. Beginning May 2nd, Turkey will market some 1.5 million barrels of oil from storage tanks (which are nearing full capacity) and minister Yildiz said this would […]
By John Lee. Abullah Akrayi, the Kurdish representative for Iran affairs has announced plans for two pipelines to Iran, intended to exchange refined oil and natural gas from Iran for crude oil from the KRG, Anadolu Agency reports. Iranian trade envoy to Iraq Rostem Qasimi apparently signed the deal in Erbil with KRG natural resources minister Ashti […]
By John Lee. [UPDATE: Further to the press release shown below, the Kurdistan Regional Government has issued a statement refuting the company’s claims to have a deal to refine crude oil from Genel Energy‘s Taq Taq oil field. Genel Energy has also denied any knowledge of, or dealings with, Black Diamond and Rezhwan. The full […]
The vast Empire World real estate development -- the largest such development in Iraq -- is a centerpiece of the KRG's continued emphasis on creating a business friendly environment, including a luxury hotel, a villa residential neighborhood, and a surfeit of turnkey office space, all in one sprawling complex. Slated for completion in 2017, the […]
By John Lee. Yum! Brands has announced the opening of the first Pizza Hut in Iraq with franchise partner, Al Kout Food Company. The new restaurant in the popular Majidi Mall in Erbil features "a full casual dine-in experience for Iraqi consumers with a vibrant, youthful design and seating for 120 people. The menu is […]
Speech given by Baroness Nicholson of Winterbourne, UK Trade Envoy for Iraq and Chairman of the Iraq Britain Business Council, to the ‘Investment Forum in Iraq and Kurdistan Region’, Rotana Hotel, Erbil: ‘I am indeed grateful for the privilege of addressing this eminent audience,and I thank most warmly the President of The Kurdistan Federation of […]
By John Lee. Reuters has reported an unnamed Iraqi government source describing what is supposedly the real reason for the delay in exporting 100,000 bpd from the Kurdish Regional Government to Turkey. As part of an interim deal , this oil was intended to be exported through the Iraqi state pipeline network. The oil represents a […]
By John Lee. The University of Arizona’s Drachman Institute is conducting an education program in heritage conservation through the Iraqi Institute for the Conservation of Antiquities and Heritage, funded by the U.S. Embassy in Baghdad. The goal of the program is to build Iraqi museum professionals’ capabilities for preserving the country’s rich cultural heritage. Faculty from the College of […]
By John Lee. The delay in adopting Iraq's federal budget, in large part due to the dispute between Baghdad and the Kurdish Regional Government over oil exports and revenues, has reduced banking activity in the KRG by up to 25%, according to Adham Karim Darwesh. Darwesh, the manager of the Erbil branch of the Central Bank […]
