The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 21.45 million from the Kurdistan Regional Government for exports from the Tawke field under a new payment arrangement announced on 1 February 2016. The payment, to be shared pro-rata by DNO and partner Genel Energy plc, includes USD 17.99 million toward the […]
By John Lee. The Kurdistan Regional Government (KRG) has announced that it will pay only partial salaries to all government employees except security personnel, as it struggles with an economic crisis due to low oil prices. In a statement, it said the decision was taken "in order to ensure the continued distribution of part of […]
By John Lee. Shares in Genel Energy were trading up 10 percent on Friday morning after the compay announced that the Taq Taq field partners have received a gross payment of $16.3 million from the Kurdistan Regional Government for oil exported through the Kurdistan Region of Iraq-Turkey pipeline. Genel's share of the gross Taq Taq […]
The Kurdistan Regional Government (KRG) has published its monthly export report for January 2016. The KRG exported 18,656,131 barrels of crude oil (an average of 601,811 barrels per day (bpd)) in the month of January through the Kurdistan pipeline network to the port of Ceyhan in Turkey. Of this amount, fields operated by the KRG […]
Kurdistan Region President Masoud Barzani says that the time has come for the people of Kurdistan to make a decision through a referendum on their future. In a statement this week, he also criticized those who have made hostile statements about the holding of a referendum in Kurdistan. “In the last few days, a number […]
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. When the Iraqi Kurds come to Washington, it is often to ask for guns to fight the Islamic State (IS). Now they are pleading for cash, warning that their campaign against the jihadis is threatened […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up 28 percent on the London market this morning, after the Kurdistan Regional Government's Ministry of Natural Resources clarified its export payment plan for foreign oil companies. Other companies with exposure to Iraqi Kurdistan, includingn Genel Energy and DNO, also saw their shares rise significantly. […]
By John Lee. An explosion on Friday has damaged a section of the pipeline that supplies gas for about half of the electricity generation in Iraqi Kurdistan. The KRG's Interior Ministry said an investigation was underway to find the cause of the explosion near the district of Shwan. The pipeline feeds gas from the Khor […]
Text of speech by Prime Minister Nechirvan Barzani at the conference held today to announce the roadmap for reform and modernisation of the Ministry of Finance and Economy and debate the current financial crisis in the Kurdistan Region: Dear Distinguished Guests, Good morning to you all. I would like to thank representatives of foreign countries, […]
With no let-up to the war in Syria, UN, humanitarian and development agencies in Iraq have appealed for $298 million in ongoing assistance for nearly 250,000 Syrian refugees in Iraq. The appeal was made at the launch of the Iraq chapter of the Syria Regional Refugee and Resilience Plan (3RP) in Erbil today, attended by […]
Under the ongoing Warm Winter 2015-2016 campaign in several countries, and with a budget of QR 11 million, Qatar Red Crescent Society (QRCS) has completed a large-scale winterization project in Al-Anbar Governorate. The $494,000 (QR 1.8 million) project is aimed at alleviating the suffering of internally displaced Iraqis who fled the fighting in the governorate. […]
Prime Minister Nechirvan Barzani yesterday received a delegation from the European Union Mission to Iraq led by Mr. Constantinos Vardakiz, acting Head of the EU Mission to Iraq and Head of the EU Office in the Kurdistan Region, along with representatives assigned to the Kurdistan Region by EU member states. The EU delegation noted with […]
