The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
ShaMaran Petroleum has announced that it that it has successfully completed the book build for the equity issue (the "Private Placement") announced on January 19, 2017, on a private placement basis, of common shares of the Company ("Common Shares"). The pricing of the Private Placement was determined during the book-building process to be CAD 0.10 […]
By John Lee. Genel Energy has issued the following trading and operations update in advance of the Company's full-year 2016 results, which are scheduled for release on 30 March 2017. In the statement (see below), the company said it expects a significant drop in production in 2017. Share were trading down 11 percent on Tuesday. […]
Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of $15.0 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil export sales in October 2016. Gulf Keystone and the KRG's Ministry of Natural Resources ("MNR") continue to work towards agreeing the final form of the invoices for May to […]
From Rudaw. Re-published with permission by Iraq Business News. Of nearly 25,000 registered companies in the Kurdistan Region, only around 13,000 of them pay corporate income tax, according to a new report from the Directorate of Taxes and Public Properties in Erbil. General manager of the directorate, Dr. Kamal Tayyib, told Rudaw the systematic tax […]
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, a Security Camera on Every Corner In Iraqi Kurdistan businesses can’t get a license unless security cameras are installed. But locals say cameras are unregulated and an […]
The International Federation of Journalists (IFJ) and its affiliate the Kurdistan Journalists Union (KJU) have condemned the brutal attack on a journalist by armed militia from the ruling party in the Kurdistan Region of Iraq. On 15 January, Iraqi journalist Karwan Haji, working for Afro and Kanky-Lash newspapers, was brutally attacked by armed militia from 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. Power Station Attack First Sign that Iraqi Kurdish Protestors are Ready to use Violence? Just after protests about power cuts, somebody fired rockets at a Chamchamal power station. Is this […]
The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Baku, Azerbaijan from January 15–19, 2017 ahead of the second review of Iraq’s 36-month Stand-By Arrangement (SBA) that the IMF Executive Board approved on July 7, 2016 ( See Press Release No. 16/321). The first review under the SBA was […]
By John Lee. Netherlands-based fruit and vegetable grower Levarht has sent its first air-freight shipment to Iraq, which arrived at Erbil airport. The company said it expects to make weekly shipments of high-quality fruit and vegetables, including soft fruit, tomatoes, bell peppers, herbs, lettuce and potatoes. A spokesperson said that because of the unrest in […]
Oryx Petroleum has given an update on its operations in Iraqi Kurdistan. In December 2016, the Zey Gawra-1 well was side-tracked (referred to in this press release as the “Zey Gawra-1ST well”) and completed in open hole partially penetrating the Cretaceous reservoir in the Zey Gawra field. Production from the naturally flowing well is currently […]
By John Lee. Canada-based Range Energy Resources has announced that it has received loans totalling CDN$1,315,512 (USD 1 million) from non-arm’s length parties to continue to fulfill its obligations to joint venture participants so that the development of the Khalakan Block in the Kurdistan Region of Iraq can continue as well as provide general working […]
By John Lee. A US State Department spokesperson has said that he expects the recent $1-billion loan guarantee provided by the United States to be shared with the Kurdistan Region. Mark Toner told a daily press briefing: "We believe it should be to the benefit of all Iraqis, and that includes the citizens or the […]
