The flow of crude oil from the Kurdistan Region to Ceyhan was halted on Thursday following theft from the export pipeline in Turkey. The thieves struck the pipeline near Urfa at 0545 am on the first day of the Eid holiday. No repair crews were on duty. A crew was due to start work on […]
By John Lee. An American court has dismissed an attempt by the Kurdistan Regional Government (KRG) to overturn a previous decision against its planned sale of oil to a US-based customer. The case arose when Iraq’s central government sued to seize a tanker loaded with crude oil from Iraqi Kurdistan -- the United Kalavryta (pictured) […]
KRG continues direct oil export despite sabotage attempt on pipeline In August, direct oil export from Kurdistan Region continued despite sabotage and attempted theft on the export pipeline inside Turkey borders, which occurred on 27 July and extended to the first week of August. According to the Kurdistan Regional Government, KRG, Ministry of Natural Resources […]
By Simon Kent. The Kurdish Regional Government (KRG) has released a statement saying it has put aside $75 million to pay three IOCs, Genel Energy, DNO and Gulf Keystone. The announcement follows payment disruption to the IOCs from the ongoing Baghdad--Erbil revenues and exports dispute. Additionally, the KRG has pledged regular payments, welcome news to the […]
By Simon Kent. Carlson Rezidor, the international hotel group with over 1,300 hotels in over 100 countries, has announced that it has finalized a deal for a new hotel, 3kms from Erbil International Airport. According to Gulf News, the 260-room hotel will be located in the Western suburbs and contain an all-day dining restaurant, speciality restaurant, lobby bar, […]
Further to the Ministry of Natural Resources communiqué of August 3, 2015 regarding payments to the exporting international oil companies (IOCs) in the Kurdistan Region, the Kurdistan Regional Government has confirmed that the Kurdistan Regional Council for Oil & Gas Affairs expects the first tranche of regular payments to be made available to the exporting […]
By John Lee. The United Nations has condemned the execution by the Iraqi Kurdistan Regional Government of three people convicted of murder and kidnapping - the first use of the death penalty in the region in seven years. Rupert Colville (pictured), Spokesperson for the UN High Commissioner for Human Rights, said in a statement: "We […]
By John Lee. The KRG’s Ministry of Natural Resources (MNR) has issued a statement which it claims will "set the record straight on oil export and revenue:" The full text of the statement is shown below: In 2014, Dr. Maliki’s government cut the entire Kurdistan budget creating a financial crisis for the people of the […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Making It Up As They Go Along: The Long, Troubled History of Iraqi Kurdistan's Presidency The Iraqi Kurdish President's term expired yesterday. And the political actors in the semi-autonomous, northern […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, set record production levels from the Tawke field in the Kurdistan region of Iraq during the second quarter of 2015 with output averaging 153,346 barrels of oil per day (bopd). A total of 118,037 bopd, representing 77 percent of field production, was delivered to […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. With A Little Help From Your Friends: US, Iran and Turkey All Getting Involved in Kurdish Presidency Problem The current Iraqi Kurdish presidency officially ended yesterday. Massoud Barzani, who heads […]
By John Lee. Sabotage and theft from pipelines has cost the Kurdistan Regional Government (KRG) an estimated $501 million (584 billion Iraqi dinars) since the start of July, the KRG's Ministry of Natural Resources said in a statement: "Persistent theft and attempted theft from the Iraq-Turkey crude oil pipeline in the southeast of Turkey continues […]
