The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
By John Lee. Iraq’s Ministry of Oil has said it will try to retake full control of all Kirkuk oilfields that were administered by the North Oil Company (NOC) before the Islamic State group (IS, ISIS, ISIL, Daesh) entered Iraqi territories, and "before the Peshmerga forces seized some oil wells during the previous government.” It […]
Gulf Keystone Petroleum has issued the details of the payments made to governments for the year ended 31 December 2015, as required under the Disclosure and Transparency Rules of the UK Financial Conduct Authority. Basis for preparation Total payments below £86,000 made to a government are excluded from this report as permitted under the Regulations. […]
In his meeting with the KRG Minister of Foreign Relations, Ambassador of Ukraine to Iraq Mr. Anatolii Marynts announced the decision of the government of Ukraine to open an honorary consulate in the Kurdistan Region in a near future. The Ambassador expressed his government’s desire to further broaden ties with the Kurdistan Region in various […]
Mr. Dominique Mas, the new Consul General of the Republic of France to the Kurdistan Region, was received today by the Head of the Department of Foreign Relations, Minister Falah Mustafa. Minister Bakir congratulated Mr. Mas and assured him that the Kurdistan Regional Government (KRG) stands ready to extend to him all the necessary support […]
By John Lee. The Korea National Oil Corporation (KNOC) is to withdraw from the Sangaw South oil field project in Iraqi Kurdistan. A spokesman for the company told Reuters that exploration results were "uneconomic." A Korean consortium headed by KNOC holds 60 percent of the project, with half of that owned by KNOC. KNOC has […]
The Kurdistan Regional Government (KRG) has published its monthly production and export revenue overview for August 2016. During the month it exported 412k bpd from the Turkish port of Ceyhan, down from the previous month’s figure, at an average price of $32.44 per barrel, bringing in revenue of $414 million. Please click here to view or […]
By John Lee. Trading sources have told Reuters that Baghdad's State Oil Marketing Organization (SOMO) and Kurdistan have resumed joint exports of crude oil from the giant Kirkuk oil field. The field normally delivers 150,000 barrels per day via the Turkish port of Ceyhan (pictured). Exports have been suspended since March in a dispute over […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Falling oil prices over the past year has caused a cash crisis in oil producing countries, including Iraq. The fall in oil revenue has exacerbated a political disagreement between federal government leaders in […]
By John Lee. The State Oil Marketing Organization (SOMO) has reportedly blacklisted three tankers involved in shipping crude oil from Iraqi Kurdistan. The company, part of the Ministry of Oil, said it would no longer allow the ships Maran Centaurus, Four Smile and SN Olivia, which had been shipping Kurdish oil, to enter Iraqi ports […]
By John Lee. Iraq would reportedly consider selling crude through Iran if talks with Iraqi Kurdistan on an oil revenue-sharing agreement fail. Deputy Oil Minister Fayadh al-Nema told Reuters that Iraq's State Oil Marketing Organisation (SOMO) plans to hold talks with the Kurdish Regional Government (KRG), possibly this week. He said "If the negotiations come […]
The United Nations Development Programme (UNDP) and the Governorate of Sulaimaniyah signed an agreement to rehabilitate the main water network for Sulaimaniyah City which provides safe drinking water for more than one million people. “The Governorate and people of Sulaimaniyah have generously welcomed and supported displaced and refugee families,” said UNDP Resident Representative and UN […]
KRG Board of Environment and Mine Agency brief diplomats on their needs The Department of Foreign Relations today hosted a special session for the KRG Board of Environmental Protection and Improvement and the Iraqi Kurdistan Mine Action Agency (IKMAA) to brief diplomats on their activities, challenges, and needs. Minister Falah Mustafa, Head of the KRG […]
