The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
The Prime Minister of Iraqi Kurdistan, Nechirvan Barzani, has received Iran’s new ambassador to Iraq, Mr. Iraj Masjedi, accompanied by Iran’s Consul General in Erbil. Recalling old relations between Kurdistan Region and the Islamic Republic of Iran, Ambassador Masjedi expressed his wish to further develop the ties between Erbil and Tehran. He expressed his readiness […]
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. In Iraqi Kurdistan, locals often trust the local exchange counter more than big banks. But a recent rash of fraud on the informal money market has seen savings lost and […]
The US Department of State has awarded the construction contract for the new US Consulate Complex in Erbil to BL Harbert International of Birmingham, Alabama. The new Consulate Complex will include a Chancery, Marine residence, housing, support facilities and facilities for the community. The architect for the project is EYP of Albany, New York. (Source: […]
By John Lee. The Kurdistan Region of Iraq is to export potatoes to Russia. According to a report from Basnews, production has exceeded demand, allowing 500 tons of the product will be exported to Russia this year. Speaking at the opening of a factory to produce fried potato chips, the KRG's Minister for Agriculture, Abdulsattar […]
DNO, the Norwegian oil and gas operator, today announced resumption of appraisal drilling at the Peshkabir discovery on the Tawke license in the Kurdistan region of Iraq following extended testing of the Cretaceous and Jurassic reservoirs in the Peshkabir-2 well. The Company spud the Peshkabir-3 well on 8 July as part of a fast track […]
By John Lee. The number of tourists visiting the Kurdistan Region of Iraq over the Ramadan holidays has doubled since last year to 243,000 people. The income generated is estimated at $73 million. Nawroz Mawlud, the minister for Municipalities and Tourism told Rudaw that about 70 percent of the tourists came from southern and central […]
By John Lee. Norway's DNO has reported receipt of $40.66 million from the Kurdistan Regional Government (KRG) as payment towards April 2017 crude oil deliveries to the export market from the Tawke license. The funds, to be shared pro-rata by DNO and partner Genel Energy, include $34.10 million towards monthly deliveries and $6.56 million towards […]
By John Lee. The Abu Dhabi National Energy Company PJSC (TAQA) has started oil production at its Atrush Block in the Kurdistan region of Iraq. Oil started flowing through the Atrush Central Processing Facility on 3rd July which has the capacity to handle up to 30,000 barrels of oil per day. The TAQA-operated Atrush Block […]
By John Lee. A Canadian court has reportedly ordered the seizure of a cargo of crude oil from the Kurdistan Region of Iraq (KRI). The Iraqi Oil Ministry requested the seizure of the 721,915-barrel cargo on the "Neverland" oil tanker claiming that it has been unlawfully misappropriated by the Kurdistan Regional Government (KRG). The move […]
By John Lee. Gulf Keystone Petroleum (GKP) confirmed today that a gross payment of $15.0 million ($12.0 million net to GKP) has been received from the Kurdistan Regional Government (KRG) for Shaikan crude oil export sales in March 2017. (Source: Gulf Keystone)
By John Lee. According to a report from Rudaw, more than 140,000 tourists have visited the Kurdistan Region for the Ramadan holidays, an increase for the second year in a row. These interim figures are only for four days — Friday until Monday. Final figures will be released next week. Eid al-Fitr, which marks the […]
By John Lee. Public strategy firm Mercury has been chosen to lobby on behalf of Sulaymaniyah-based PAM Media in the United States. PAM Media is a production company that produces advertisements for commercial products or services; it is owned by Nalia Media Corporation (NMC), which also owns NRT TV. Documents lodged with the US Senate […]
