Head of KRG Foreign Relations, Minister Falah Mustafa, today welcomed the new Head of Embassy Office of the Republic of Korea, Mr. Young-Kyu Park. On behalf of the KRG, Minister Mustafa congratulated Mr. Park on his new post and assured him of the DFR’s full support to ensure the success of his mission. The Minister […]
The Kurdistan Regional Government (KRG) today relaunches the monthly crude oil export reports, to include additional information that further increases the transparency of the KRG’s direct oil sales. All future monthly reports will contain this new information. For the first time the monthly reports include the revenues received by the KRG on account and cargoes […]
Gulf Keystone Petroleum (GKP) announced today that the Kurdistan Regional Government has authorised a gross payment of US$15 million (US$12 million net to Gulf Keystone) to the company. Further to the KRG's Ministry of Natural Resources ("MNR") press release of 1 February 2016, this payment is being made on the basis of the Company's monthly […]
The KRG's Ministry of Natural Resources has published an updated Oil Production, Export and Consumption Report for 2015. The report provides a comprehensive overview of activity in the Kurdistan Region’s oil and gas sector in 2015, including the revenues derived from oil exports. The first edition of the report was prepared in November 2015, which […]
By John Lee. Prime Minister Haider al-Abadi (pictured) has reportedly offered to pay the salaries of the KRG’s employees if it ceases its independent oil exports. Facing a financial crisis due to low oil prices, the KRG announced recently that its employees will be paid only partial salaries until further notice, and that unpaid wages […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi premier Haider al-Abadi urges Kurdistan to drop any plans for independence, criticising a proposed statehood referendum.
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 21.45 million from the Kurdistan Regional Government for exports from the Tawke field under a new payment arrangement announced on 1 February 2016. The payment, to be shared pro-rata by DNO and partner Genel Energy plc, includes USD 17.99 million toward the […]
By John Lee. The Kurdistan Regional Government (KRG) has announced that it will pay only partial salaries to all government employees except security personnel, as it struggles with an economic crisis due to low oil prices. In a statement, it said the decision was taken "in order to ensure the continued distribution of part of […]
By John Lee. Shares in Genel Energy were trading up 10 percent on Friday morning after the compay announced that the Taq Taq field partners have received a gross payment of $16.3 million from the Kurdistan Regional Government for oil exported through the Kurdistan Region of Iraq-Turkey pipeline. Genel's share of the gross Taq Taq […]
The Kurdistan Regional Government (KRG) has published its monthly export report for January 2016. The KRG exported 18,656,131 barrels of crude oil (an average of 601,811 barrels per day (bpd)) in the month of January through the Kurdistan pipeline network to the port of Ceyhan in Turkey. Of this amount, fields operated by the KRG […]
Kurdistan Region President Masoud Barzani says that the time has come for the people of Kurdistan to make a decision through a referendum on their future. In a statement this week, he also criticized those who have made hostile statements about the holding of a referendum in Kurdistan. “In the last few days, a number […]
By Amberin Zaman for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. When the Iraqi Kurds come to Washington, it is often to ask for guns to fight the Islamic State (IS). Now they are pleading for cash, warning that their campaign against the jihadis is threatened […]
