Tag Archives | Kurdistan News

The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.

Heritage switches to Mid East

Heritage Oil, this month will sell its Ugandan operations for $1.35bn after more than a decade of development work. writes Miles Johnson in the Financial Times The cash will be used to pay investors a special dividend of between 75p and £1 per share, and to delve into fresh projects in Africa and the Middle […]

ArcelorMittal Plans Steel Plant in Kurish Iraq

The world's biggest steel maker ArcelorMittal said Tuesday it plans to build a 130-million-dollar steel plant in Kurdish northern Iraq in partnership with the Turkish company Dayen. ArcelorMittal "signed a memorandum of understanding to establish a joint venture with Turkish partner Dayen to build a steel mini-mill with electric furnace in Sulaimaniyah," a city in […]

MOL Makes Discovery in Akri-Bijeel Block in Kurdistan

Hungarian oil and gas group MOL has made a discovery in Akri-Bijeel Block in Kurdistan Region of Iraq. The testing results are promising, it said in a statement on 10 March, Portfolio Hungary reported. According to the official announcement: “Gulf Keystone is pleased to announce that Kalegran Ltd., a 100% subsidiary of MOL Hungarian Oil […]

Hungary's Kurdistan Well Hits Oil

Hungarian oil and gas group MOL(MOLB.BU) announced on Tuesday that it had discovered oil in the Akri-Bijeel Block in the Kurdistan Region of Iraq where they conduct tests jointly with Gulf Keystone Petroleum, reports Reuters.. MOL,which owns an 80 percent share, said its exploration well tested 3,200 bbl/day oil and also associated gas. It said […]

Kurdistan Postpones Budget

The Kurdistan parliament’s chairmanship decided on Tuesday to postpone discussing the region’s 2010 budget until the end of the coming parliamentary elections. “The parliament decided today (March 2) to resume discussing the 2010 budget after the end of the coming elections,” Ismail Kalali told Aswat al-Iraq news agency. (Aswat Al Iraq)

Kurdistan Attracts $12 Billion Investment

According to a report from Reuters, Iraqi Kurdistan's investment body says the region has attracted more than 12 billion US dollars from local and foreign investors in non-oil sectors over the last three-and-a-half years, mainly in housing. Of this $12 billion, $3.1 billion was from foreign sources, and this would been higher had a $6 […]