By John Lee. Genel Energy plc has announced that its subsidiary, Genel Energy Miran Bina Bawi Limited (GEMBBL), has been ordered by the London Court of International Arbitration (LCIA) to pay the Kurdistan Regional Government (KRG) a total of $26.87 million in recoverable costs. The ruling follows a claim brought by the KRG in December […]
By John Lee. Gulf Keystone Petroleum (GKP) has published details of its payments to governments for the year 2024: Introduction This report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ('Gulf Keystone') for the year ended 31 December 2024 as required under Disclosure and Transparency […]
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has said its member companies will not resume crude oil exports via the Iraqi-Türkiye Pipeline (ITP) until the Government of Iraq (GOI) guarantees contract sanctity and payment for past and future exports. Full statement from APIKUR: Designated International Oil Companies (IOCs), along with […]
By John Lee. Following laying of the foundation stone by Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani, construction has officially begun on the 40-metre road project in Soran. The five-kilometres-long highway will feature three lanes in each direction, alongside a 2.5-metre-wide pedestrian pavement on both sides. A key highlight of the project is a […]
By John Lee. The United States has pushed the Iraqi government to finalise an agreement with international oil companies (IOCs) to resume crude oil exports through the Iraq-Turkey Pipeline (ITP). At the daily press briefing on Wednesday, State Department spokesperson Tammy Bruce told reporters: "We're urging the Iraqi Government to reach an agreement ... with […]
From The Conversation. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi Kurdistan faces a deepening economic crisis as unpaid wages pile up Public sector workers in Iraqi Kurdistan, a semi-autonomous region of northern Iraq, have endured irregular and delayed salary payments for more […]
By John Lee. Representatives from the Association of the Petroleum Industry of Kurdistan (APIKUR) member companies met with officials from the Government of Iraq (GoI) and the Kurdistan Regional Government (KRG) on March 6 to discuss the resumption of oil exports through the Iraq-Türkiye Pipeline. APIKUR reiterated that its member companies are ready to restart […]
By John Lee. US National Security Advisor Mike Waltz held a call with Iraqi Prime Minister Mohammed S. Al-Sudani on Sunday, reaffirming Washington's commitment to strengthening bilateral relations with Baghdad. Mr. Waltz extended Ramadan greetings and expressed concern over recent flooding in Baghdad. Discussions focused on economic cooperation, with Prime Minister Al-Sudani outlining his government's […]
The Ministry of Education of the Kurdistan Regional Government (KRG) has installed solar power systems in 81 schools across the governorates of Erbil, Slemani, Duhok, Halabja and Kirkuk. Saman Siwayli, spokesperson for the ministry, stated that the initiative aims to ensure schools have uninterrupted 24-hour electricity, eliminating reliance on power generators. To further expand the […]
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has said its member companies are ready to restart oil exports from Iraqi Kurdistan once agreements are in place. In a statement on X, the association called for written sales and lifting agreements with Baghdad and Erbil ensuring payment transparency and protection from […]
By John Lee. The Federal Ministry of Oil has confirmed the completion of procedures for resuming the export of oil produced in the Kurdistan Region through Ceyhan Port (pictured), in accordance with the mechanisms outlined in the Budget Law and its amendments and within Iraq's OPEC production quota. In a statement on Saturday, the Ministry […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq imports over 50 kilograms of gold daily: Ministry Iraq's Development Road has Erbil's "complete support," President Nechirvan Barzani said in Baghdad on Saturday, despite objections that it bypasses the Kurdistan Region. Click here […]
