The Kurdistan Regional Government (KRG) and Pearl Petroleum have signed an agreement to increase production of gas from the Khor Mor field later this year, to boost much needed electricity generation for the people of the Kurdistan Region and Iraq as a whole. The 10-year gas sales agreement will enable gas production from Khor Mor […]
By John Lee. Prime Minister Haider Al-Abadi has announced the reopening of Erbil and Sulaimaniyah airports to international flights. In a statement, he said he signed the decree "following the response of the local authorities in the Kurdistan region to restore the federal authority to the two airports in accordance with the constitution, in order […]
KRG Prime Minister Nechirvan Barzani received US Ambassador to Iraq, Mr. Douglas Silliman and his accompanying delegation. In the meeting, also attended by Deputy Prime Minister Qubad Talabani, they discussed the latest developments in the talks between Erbil and Baghdad, upcoming elections in Iraq and in the Kurdistan Region, the Kuwait International Conference for Reconstruction of […]
A Kurdistan 24 press quoted Talar Faiq, the Director-General of Erbil International Airport (EIA) as saying that the KRG could suspend domestic flights between the Kurdistan Region’s airports and the rest of Iraq due to financial issues and Baghdad’s international flight ban. “Since the Iraqi government’s ban went into effect late September 2017, Iraqi Airways […]
By Jack Detsch for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Trump administration’s budget proposal for next fiscal year does not include peshmerga salaries even as the Pentagon aims to continue training the Kurdish force. The Department of Defense had requested $365 million in stipends […]
Kirkuk Governorate Council has reportedly filed a complaint at the Iraqi Supreme Court against the federal government for taking unilateral steps on the governorate's oil. A press report on February 19 cited three moves that it said Baghdad has taken without consultation with local government: An agreement with British Petroleum (BP) to develop Kirkuk oil […]
By John Lee. A new section of Erbil's largest road was reportedly opened on Monday. The five-kilometer stretch of the "120 Meter Road" will alleviate heavy traffic on the Erbil-Pirmam and Erbil-Koya roads, according to a report from Rudaw. The Hemn Group has pledged to finish the next phase of the project near the Kirkuk road […]
Genel Energy plc has announced that it has received an override payment of $7.05 million from the Kurdistan Regional Government (KRG). The payment represents 4.5% of Tawke gross field revenues for the month of November 2017, as per the terms of the Receivable Settlement Agreement. Taken together with the monthly entitlement payments for Taq Taq […]
Genel Energy has announce that it has agreed with the Kurdistan Regional Government (KRG) a 12 month extension to the schedule for satisfying the conditions precedent ('CPs') contained within the Gas Lifting Agreements ('GLA's) for the Bina Bawi and Miran fields signed in February 2017. The revised date by which the CPs are to be […]
By John Lee. The European Union has adopted a new strategy on Iraq, following the joint communication by the High Representative and the Commission on elements for an EU strategy on Iraq adopted on 8 January 2018. Among other items, the EU called on the Government of Iraq and the Kurdistan Regional Government to engage […]
Gulf Keystone Petroleum (GKP), operator of the Shaikan Field in the Kurdistan Region of Iraq, is today providing an operational and corporate update. This is in advance of the Company's full year results for the period ended 31 December 2017 which are expected to be announced on Wednesday 11 April 2018. The information contained herein […]
By John Lee. Genel Energy has announced that the Taq Taq partners have received a gross payment of $10.10 million from the Kurdistan Regional Government for oil sales during October 2017. Genel's net share of the payment is $5.55 million. (Source: Genel Energy)
