The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
By John Lee. WesternZagros Resources has announced that the operator has completed the installation of surface equipment to expand the Sarqala production facility. Current production for the Sarqala-1 well is approximately 9,500 barrels per day of oil, which is in line with the company's first quarter guidance expectations. (Source: WesternZagros)
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraqi Kurdistan faces many Obstacles to Independence Referendum Iraq's Kurdistan Regional Government (KRG) announced May 24 that it had formally informed the United Nations Security Council of its intention […]
By John Lee. Chinese engineering company Norinco International has reportedly signed a contract with Jabal Bazian Co for General Trading [Jabal Jaber Bazian Company for General Trading] for the construction of a new cement plant in Iraq. The $445-million contract covers the plant's production line design, purchasing, construction management, operational work as well as administration […]
By John Lee. The Kurdistan Region of Iraq is to hold a referendum on independence on 25th September. According to BBC News, there was no immediate comment from Iraq's central government, but it has urged Kurds not to hold a referendum. Moves towards outright independence have historically been opposed by the governments of neighbouring Iran, […]
By John Lee. Gulf Keystone Petroleum (GKP) has announced that the Kurdistan Regional Government (KRG) has made a gross payment of $15.0 million ($12.0 million net to GKP) for Shaikan crude export sales in February 2017. (Source: GKP)
By John Lee. Cross-border trade has increased 20 percent in the first three months of this year after authorities installed automatic electronic system in the main border stations in January. The manager of the Kurdistan Region Customs Service told Rudaw: “The automation process has had an immediate and relatively large impact on the overall revenues […]
Tony Hayward (pictured), Chairman of Genel Energy, has given an update on the business at the Company's Annual General Meeting this morning: Genel has a clear strategic focus - maximising the generation of free cash flow from our oil assets, accelerating the recovery of the receivable for unpaid oil sales, and crystallising value from the […]
By John Lee. Genel Energy has announced that Nathaniel Rothschild and Simon Lockett have resigned from the Board. Accordingly, they will no longer stand for re-election at the Annual General Meeting of Genel Energy on 6 June 2017. Rothschild, along with form BP boss Tony Hayward, created the company in 2011 when their investment company […]
By John Lee. A delegation headed by the KRG's Prime Minister Nechirvan Barzani met the board of Rosneft, including CEO Igor Sechin, in St. Petersburg on Thursday. The meeting is said to have centred around cooperation between the KRG and Rosneft in the Kurdish energy sector. In February, the KRG negotiated a deal with Rosneft […]
By Fazel Hawramy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Residents of Iraqi Kurdistan stock up on spirits as Ramadan kicks off While Iraqi security forces were busy clearing the last pockets of Islamic State-controlled areas in Mosul and the wider public in Iraq was […]
The International Finance Corporation (IFC), a member of the World Bank Group, and its partners officially launched the first independent institute of directors in Iraq to promote principles of good corporate governance, boost transparency, and help attract more private investment. The Kurdistani Institute of Directors (KIoD) will be providing corporate governance services in Iraq and […]
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. The spokesperson for Turkmen political parties in Kirkuk tells NIQASH that his people don’t want to be part of Kurdistan, that they do want a semi-independent region and they hope […]
