The Kurdistan Regional Government (KRG) has published its monthly production and export revenue overview for August 2016. During the month it exported 412k bpd from the Turkish port of Ceyhan, down from the previous month’s figure, at an average price of $32.44 per barrel, bringing in revenue of $414 million. Please click here to view or […]
By John Lee. Trading sources have told Reuters that Baghdad's State Oil Marketing Organization (SOMO) and Kurdistan have resumed joint exports of crude oil from the giant Kirkuk oil field. The field normally delivers 150,000 barrels per day via the Turkish port of Ceyhan (pictured). Exports have been suspended since March in a dispute over […]
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. 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. 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 […]
KRG Board of Environment and Mine Agency brief diplomats on their needs The Department of Foreign Relations today hosted a special session for the KRG Board of Environmental Protection and Improvement and the Iraqi Kurdistan Mine Action Agency (IKMAA) to brief diplomats on their activities, challenges, and needs. Minister Falah Mustafa, Head of the KRG […]
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 30 million from the Kurdistan Regional Government as partial payment to DNO and partner Genel Energy for June crude oil deliveries to the export market from the Tawke field. The total invoiced amount for June is USD 38.41 million, of which USD […]
The Kurdistan Regional Government (KRG) has published its monthly production and export revenue overview for July 2016. During the month it exported 457k bpd from the Turkish port of Ceyhan, down from the previous month's figure, at an average price of $32.53 per barrel, bringing in revenue of $461 million. Please click here to view or […]
Genel Energy has announced that the Taq Taq field partners have received a gross payment of $24.91 million from the Kurdistan Regional Government for oil sales during June 2016. Genel's net share of the payment is $13.70 million. The payment reflects full settlement of the invoiced amount for June 2016 oil sales, and incorporates $20.82 […]
Kurdistan Regional Government Prime Minister Nechirvan Barzani says education is the key to success and progress in Kurdistan. Prime Minister Barzani says, development and prosperity are achieved through the advancement of Kurdistan’s education system. Mr. Barzani made the statement during a special ceremony held on Tuesday in Erbil to honor top students for 2015-2016 academic […]
Kurdistan Regional Government Prime Minister Nechirvan Barzani released a statement on Saturday regarding the failed military coup in Turkey. Prime Minister Barzani congratulated the people, President and Prime Minister of Turkey after the will of people defeated the coup d'etat planners. Below is Prime Minister Barzani's statement: "We are pleased to see the triumph of […]
Head of KRG Foreign Relations, Minister Falah Mustafa, on Friday received Austria’s Minister for Foreign Affairs, Sebastian Kurz in his second visit to Kurdistan to discuss strengthening of bilateral relations as well as recent developments. Both Ministers expressed delight at the level of bilateral cooperation between both governments and expressed their commitment to broaden their […]
