By John Lee. Shares in Heritage Oil closed up 12.3% on Tuesday following the announcement that it will sell part of its Miran Block in Kurdistan and borrow money from Genel Energy to raise $450 million to fund oilfield purchases in Nigeria. The comany will sell a 26 percent stake in the block to Genel and […]
By John Lee. Genel Energy has increased its commitment to oil exploration in Iraqi Kurdistan with the announcement that it has agreed to acquire an additional 26 per cent interest in the Miran exploration block from Heritage Oil. The announcement comes just a day after the Kurdistan Regional Government's Oil and Gas Council approved the […]
By John Lee. Like good comedy, the secret of good investment is often said to be timing. Someone buying shares at the end of June in Heritage Oil, which has interests in Iraqi Kurdistan, may have had reason to be concerned if they planned to sell shortly afterwards, as the shares were suspended in early July […]
Just days after agreeing to re-start oil exports from the Kurdistan region, Ashti Hawrami (pictured), the KRG's Minister of Natural Resources, said the region would halt oil exports at the end of the month if Baghdad does not make all outstanding payments to companies working in the oil sector in the region by that time. […]
Genel Energy has announced that it has agreed to acquire an additional 21 per cent interest in the Bina Bawi exploration block in the Kurdistan Region of Iraq from Hawler Energy Ltd for $240 million, to be paid from the Company's existing cash resources. The Transaction is in addition to the Company's acquisition of an […]
By John Lee. Genel Energy has issued the following announcement on its Bina Bawi acquisition in Kurdistan: On 14 May 2012, Genel Energy plc ("Genel Energy") announced that it intended to acquire a 23 per cent interest in the Bina Bawi exploration licence. The acquisition was to be made through the purchase of all of […]
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 […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
As Iraq starts to recover after civil unrest now is the time for the international community to understand the current issues which will help mould the country's future through investment. At the Pre-Forum Executive Briefing of the Caspian Gas Forum, the UKTI in partnership with Gastech Specialist Events will focus on the current business landscape […]
Gulf Keystone and Genel Energy have updated the markets on their operations at Ber Bahr-1, the first exploration well on the Ber Bahr block in the Kurdistan Region of Iraq: The Ber Bahr 1 well has now completed drilling and initial testing. The well was drilled to 3993m in the Chia Zairi formation. The well […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
The Kurdistan Regional Government (KRG) instructed all contractors who are operating currently in the Kurdistan region to halt the export of crude oil. Due to this the portion of crude oil produced by the company’s two producing fields, Taq Taq and Tawke, which were destined for export via the Iraqi national pipeline has been halted. […]
