WesternZagros Resources has issued an update in advance of the company's standard second quarter results which are scheduled for release on 13th August, 2015: Garmian Block Second quarter production from the Sarqala-1 well averaged 5,427 barrels of oil per day ("bbl/d). WesternZagros continues, in accordance with the KRG, to supply this production to the domestic […]
Statement by KRG's Ministry of Natural Resources on attacks on the Kurdistan to Ceyhan oil export pipelines in Turkey Since July 27th, there have been repeated attempted thefts and sabotage attacks on the pipelines that carry crude oil from the Kurdistan Region to Ceyhan (pictured) in Turkey. This has led to an almost complete stoppage […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Erbil-Baghdad Oil Relations Swing between Deal, no Deal Encouraged by more international interest in purchasing its oil, coupled with the apparent failure of the federal Iraqi government to provide agreed-upon […]
Croatia’s Defense Minister, Mr. Ante Kotromanović today received Minister Falah Mustafa, Head of KRG Foreign Relations and his accompanying delegation to exchanges views on the fight against ISIS and mutual military cooperation. Minister Kotromanović expressed his admiration for the bravery of the peshmerga forces in the fight against the ISIS terrorists and stated that, “Fighting […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up more than 7 percent early on Thursday, as the company announced that it had received further payments for its oil shipments. In an operational update issued ahead of the company's Annual General Meeting today, the GKP said it continues to produce at stable rates […]
Minister Falah Mustafa, Head of the KRG Foreign Relations received on Sunday the Kuwaiti Consul General and Vice Chairman of the Board of Directors of the Kuwait Red Crescent Society. The Consul General of Kuwait Dr Omar Ahmed al-Kandari stated that on the 11th of June 2015, the Emir and the Government of Kuwait agreed […]
By John Lee. The agreement between the Kurdistan Regional Government (KRG) and the Iraqi central government agreement on budget and oil exports looks set to collapse. Kurdish MP Ardalan Nouraddin told BasNews that a new agreement will be signed, adding, “the details are yet to be revealed.” Under the December agreement, the KRG was to […]
By John Lee. Oil firms expecting to load Kirkuk crude at the Turkish port of Ceyhan have had to cancel tankers, as the Kurdistan Regional Government ramps up independent oil sales at the expense of sales through the State Oil Marketing Organization (SOMO). According to a report from Reuters, tanker cancellations included Eni’s Seanostrum, Socar’s […]
By John Lee. The Kurdistan Regional Government (KRG) has reacted angrily to a statement from Sharjah-based Dana Gas. Shares in the company jumped 13.7 percent on the Abu-Dhabi stock exchange on Sunday after the company won a ruling in the London Court of International Arbitration (LCIA) in its long-running dispute with the KRG in Iraq […]
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. Masrour Barzani: Kurdish independence would help defeat IS The war against the Islamic State (IS) is continuing full force in Iraq and Syria. And Kurds from both countries remain the most effective […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Dildar Namiq, 24, is eagerly running up and down a flight of stairs in a two-story office, trying to complete paperwork to join Iraqi Kurdistan's armed forces, known as the […]
By John Lee. The Kurdistan Region of Iraq has slashed its transfers of oil to the State Oil Marketing Organization (SOMO). According to the monthly report issued by the KRG's Ministry of Natural Resources, the region supplied SOMO in Ceyhan with 149,778 barrels per day (bpd) in June, a drop of almost two thirds from […]
