The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
By Amberin Zaman, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Massoud Barzani vows to fight corruption with same dedication as KRG has fought IS These are critical times in the quasi-independent Kurdish entity in Iraq better known as the Iraqi Kurdistan Region, or […]
By John Lee. Kurdistan's Qaiwan Group has secured two loans totalling $105 million to refinance part of the firm's investment in the 442-MW Bazian Power Plant (pictured). According to a report from Trade Arabia, Deutsche Bank has arranged an eight-year $75-million buyer credit, along with the Dubai branch of Lebanon's Bankmed. The finance is being […]
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 13.46 million from the Kurdistan Regional Government for February 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. Gulf Keystone Petroleum (GKP) has announced that a gross payment of $7.5 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil exports in February 2016. This gross payment comprises the Company's monthly contractual revenue entitlement under the Shaikan Production Sharing Contract for crude oil exports in February […]
By John Lee. Genel Energy plc has announced that the Taq Taq field partners have received a gross payment of $12.6 million from the Kurdistan Regional Government ('KRG') for oil sales during February 2016. Genel's share of the gross Taq Taq payment is $6.9 million. As agreed with the KRG, sales into the local market […]
By John Lee. Iraq Oil Report, citing Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi], says Baghdad has stopped oil exports through the Kurdish region, to put pressure the Kurdistan Regional Government to resume talks about sharing oil revenues. Sources confirmed to Reuters that the state-run North Oil Company (NOC) has stopped pumping oil […]
By John Lee. In a speech to the fourth annual Sulaimani Forum, held by the American University of Sulaimani, KRG Prime Minister Nechirvan Barzani explained the current situation in Kurdistan Region, focusing on the internal political conditions, the war against ISIS, the economic crisis and Kurdistan Region’s relations with Baghdad. He was particularly critical of […]
Oryx Petroleum Corporation has announced its financial and operational results for the year ended December 31, 2015. All dollar amounts set forth in this news release are in United States dollars, except where otherwise indicated. 2015 Financial Highlights: Total revenues of $20.5 million on working interest sales of 588,200 barrels of oil (“bbl”) and an […]
The American University of Duhok has been officially opened in a ceremony held on Tuesday. The ceremony was attended by Kurdistan Region President, Masoud Barzani, Prime Minister Nechirvan Barzani, Chancellor of Kurdistan Region Security Council and Honorary President of the American University of Duhok, Masrour Barzani, a number of foreign diplomatic representatives and KRG and […]
By John Lee. KRG Minister Falah Mustafa met with Russian Ambassador to Iraq Mr. Ilya Morgunov and Russian Consul General in Kurdistan Mr. Viktor Simakov on Sunday to discuss strengthening bilateral ties and challenges facing Kurdistan and the wider region. Minister Mustafa and Ambassador Morgunov reviewed ways of strengthening bilateral cooperation between the Russian Federation […]
The Kurdistan Regional Government has hosted a special session for the KRG Minister of Interior and Mayor of Shingal to brief diplomats and representatives of UN agencies and INGOs based in Erbil on the needs of the city. At the outset of the meeting, Minister Falah Mustafa, Head of KRG Foreign Relations called for a […]
By John Lee. Gulf Keystone Petroleum (GKP) has confirmed that the gross payment of US$15 million was received from the Kurdistan Regional Government on 4 March. Following the payment, the Company's current cash position is US$56 million. (Source: GKP)
