Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of US$15 million (US$12 million net to Gulf Keystone) has been received by the Company for Shaikan crude oil export sales. This payment satisfies the Company's invoice for the month of December 2015 submitted to the Kurdistan Regional Government's Ministry of Natural Resources ("MNR"). Following […]
DNO ASA, the Norwegian oil and gas operator, today confirmed receipt of USD 30 million as partial payment towards oil exported from the Tawke field by the Kurdistan Regional Government. The payment, to be shared pro-rata with Tawke license partner Genel Energy plc, is the fourth such monthly payment since September 2015. (Source: DNO)
By John Lee. Genel Energy has announced that the Taq Taq field partners have received a gross payment of $30 million from the Kurdistan Regional Government ('KRG') for oil exported through the Kurdistan Region of Iraq-Turkey pipeline. This represents the fourth export payment by the KRG since payments recommenced in September 2015. Genel's share of […]
Erbil, Kurdistan Region, Iraq (cabinet.gov.krd) - In a ceremony held yesterday, Italy's Consulate opened in Erbil, which was attended by the President of Italian Senate, Mr. Pietro Grasso and his accompanying delegation, Prime Minister Nechirvan Barzani, Deputy Speaker of the Kurdistan Parliament and a number of Kurdistan Regional Government ministers and officials. In his speech, Prime […]
Prime Minister Nechirvan Barzani yesterday received the Lebanese Embassy Charge d’Affaires in Iraq, Mr. Walid Al-Ghossaini.Mr. Walid Al-Ghossaini said that his country intends to open a representation office in the Kurdistan Region capital Erbil, in a near future, to raise it later to the level of consulate. Mr. Al-Ghossaini discussed the current situation in the […]
By Simon Kent. WesternZagros Resources has announced that an agreement has been reached with its major shareholder, Crest Energy International to defer the latest first drawdown notice date under the first tranche of its US$200 million unsecured credit facility from the original date of January 1, 2016 to May 1, 2016. The Company felt it […]
Minister Falah Mustafa today received representatives of over 25 U.S companies, led by the U.S-Kurdistan Business Council (USKBC), to discuss areas of potential investment for U.S companies in the Kurdistan Region. In a meeting attended by Bayan Rahman, KRG Representative to the U.S, Minister Mustafa thanked the USKBC for bringing such a high level business […]
By Mark DeWeaver. In October I had the good fortune to spend some time in Sulimaniyah, at the American University of Iraq’s Institute for International and Regional Studies, where I worked on a research project with a group of student assistants. Our objective was to document the effects of the KRG budget crisis on the […]
Senior KRG officials on Sunday discussed economic reform plans of the government and bilateral ties with Baroness Emma Nicholson, UK Prime Minister's Trade Envoy for Iraq. The meeting was chaired by Minister Falah Mustafa, and he was joined by Dr. Ali Sindi Minister of Planing, Nawroz Mawlod Minister of Municipality and Tourism, Mawlod Bawa Murad […]
The Kurdistan Regional Government (KRG) has published its monthly export report for November 2015. The KRG exported 18,023,075 barrels of crude oil (an average of 600,769 barrels per day (bpd)) in the month of November through the Kurdistan pipeline network to the port of Ceyhan in Turkey. Of this amount, fields operated by the KRG contributed […]
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq’s most urgent challenge is to eliminate the Islamic State (IS), but that battle will be just a prelude to myriad conflicts in liberated areas such as Sinjar and Tuz Khormato if the rival […]
The Kurdistan Regional Government's Ministry for Natural Resources has published a report on crude oil production, refining, local consumption and export in the Kurdistan Region of Iraq in 2015. The report also includes information on the Region’s oil revenue, pipeline infrastructure, the status of exploration blocks, and the composition of the workforce in the Region’s […]
