The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
The Kurdistan Regional Government (KRG) today publishes the monthly crude oil export report for April 2016. The report details: All oil export volumes through the KRG-Ceyhan crude oil pipeline; all crude oil cargoes lifted from Ceyhan by the buyers; and the revenues received on account by the KRG during the month. The Kurdistan Regional Government […]
WesternZagros Resources has announced the resumption of crude oil production and sales from the Sarqala-1 well in the Kurdistan Region of Iraq. Sales are to be in accordance with the payment mechanism for crude oil sales announced by the Ministry of Natural Resources of the Kurdistan Regional Government on February 1, 2016 based on the […]
By John Lee. Shares in DNO, the Norwegian oil and gas operator, closed up more than 10 percent on Wednesday as the company announced the startup of an active drilling program at its flagship Tawke field in the Kurdistan region of Iraq. The company said it will boost investments on the back of seven consecutive […]
By John Lee. Indian Ambassador to Iraq, Mr. George Raju yesterday visited the KRG Department of Foreign Relations to discuss the opening of Indian consulate general in Erbil. Ambassador Raju announced the decision of the government of India to open its consulate general in Erbil, capital of Kurdistan Region. He said that India realizes the […]
In its Q1 Financial Report, Dana Gas reports that its production has fallen 16 percent in Iraqi Kurdistan: KURDISTAN REGION OF IRAQ - RESERVES UPDATE As reported previously Dana Gas and Crescent Petroleum, joint operators of Pearl Petroleum Company Limited ("PPCL"), estimate that P50 total geologically risked resources of petroleum initially in-place (PIIP) of the […]
By John Lee. In a Management Report released to the markets, Gazprom gave the following update on its operations in Iraq: The Badrah field (pictured) (30% held by Gazprom Neft Group): In 2015 production was 1.4 million tons of oil, a level sufficient for the project to pay back. The Garmian block in Iraq (Kurdistan) […]
By John Lee. Dimitris Tsitsiragos, the Vice President of the World Bank's private sector investment arm, told Reuters on Thursday that the bank had arranged $375 million in financing for an Iraqi power company. The International Finance Corporation (IFC) will provide a debt and equity package of $250 million, with another $125 million from Lebanon's […]
Erbil marks the launch of its Provincial Development Strategy 2016-2018 with a breathtaking audiovisual performance at the historic Citadel At an official ceremony at Erbil's historic Citadel, the Governorate of Erbil launched its Provincial Development Strategy. The ceremony was presided over by H.E. Prime Minister of the Kurdistan Regional Government, Mr. Nechirvan Barzani, and attended […]
Ministerial meeting assesses reforms in building systems for the Kurdistan Region of Iraq The progress achieved under the project Establishing a Building Control Regime for the Kurdistan Region of Iraq (KR-I), funded by the United Nations Development Programme (UNDP) and implemented by the United Nations Human Settlements Programme (UN-Habitat), was discussed in a ministerial meeting […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The ongoing reform push by Iraq's Prime Minister Haider al-Abadi has brought about a sense of unity in the Kurdish ranks, unseen for the past couple of years. When Abadi […]
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 20.11 million from the Kurdistan Regional Government for March crude oil deliveries to the export and local markets from the Tawke field under the payment arrangement announced earlier this year. The funds, to be shared pro-rata by DNO and partner Genel Energy […]
By John Lee. The UAE government is set to start work on two new hospital projects to serve Syrian refugees and displaced Iraqis in Kurdistan. The projects, which will include an eye treatment centre, are being carried out with the help of Emirates Red Crescent (ERC). The ERC has already opened a number of new projects […]
