By John Lee. The United States has emphasized the urgency of reopening the Iraq-Turkiye Pipeline (ITP) as soon as possible. Full statement from The White House: Deputy Assistant to the President and White House Coordinator for the Middle East and North Africa Brett McGurk and Deputy Assistant and Senior Advisor to the President for Energy […]
By John Lee. The Kirkuk-Ceyhan oil pipeline, which is also the main route for oil exports from Iraqi Kurdistan, will reportedly soon be ready to resume operations. Various media sources quote the Turkish Energy Minister, Alparslan Bayraktar (pictured), as saying that earthquake-damage assessments are nearing completion. Shares in Gulf Keystone Petroleum (GKP) closed the day […]
By Ragip Soylu for Middle East Eye. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Turkey seeks $950m damages against Iraq over KRG oil dispute Turkish interest calculations suggest Baghdad has to pay $950m to Ankara in ICC award that initially ruled $1.4bn […]
By Ezgi Akin for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Turkey's FM tackles long-held disputes with Iraq in first official visit Hakan Fidan chose Iraq for his first official visit as Turkey's new foreign minister, but the visit appeared […]
By John Lee. Canadian oil development and exploration company ShaMaran Petroleum has suspended its 2023 guidance due to uncertainties resulting from the closure of the Iraq-Turkey Pipeline (ITP) to Ceyhan, and other challenges in Iraqi Kurdistan. Full statement from ShaMaran Petroleum: ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) and (Nasdaq First North Growth […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Unwilling To Resume Crude Exports From Kurdistan To Turkey It is easy to lose sight of the wood for the trees sometimes in the complex world of global oil. […]
By John Lee. Share in Gulf Keystone Petroleum (GKP) were trading up nearly 7 percent this morning (Wednesday), follow a fall that saw the shares down 25 percent at one point yesterday. In an operational and corporate update, the company said it has, "commenced local sales in July and partially restarted Shaikan Field production, increasing […]
By John Lee. Genel Energy has issued a presentation relating to its half-year results to the end of June. Click here to download. (Source: Genel Energy)
By John Lee. Revenues at Genel Energy have, as expected, fallen sharply as a result of the closure of the Iraq-Turkey Pipeline (ITP) which brings oil from Northern Iraq to Turkiye's port of Ceyhan. In its unaudited results for the period ended 30 June 2023, Paul Weir, Chief Executive of Genel, said: "The closure of […]
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has said that spending on the oil industry in Iraqi Kurdistan has been cut by $400 million as a result of the closure of the Iraq-Turkey pipeline (ITP). Full statement from APIKUR: The Association of the Petroleum Industry of Kurdistan (APIKUR) notes that […]
By John Lee. Canadian oil development and exploration company ShaMaran Petroleum has announced that all non-essential capital expenditures in the Atrush block (pictured) have been cancelled or postponed, while it engages with bondholders to seek additional balance-sheet flexibility. The company's operations remain heavily impacted by the continued closure of the Iraq-Turkey pipeline (ITP), connecting Iraq's […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Deep Dive: Will Turkey agree to resume oil shipments from northern Iraq? The transfer of crude oil from Iraq to Turkey remains suspended, almost four months after an arbitration ruling found that Ankara […]
