The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
By John Lee. Iraqi Oil Minister Abdul Kareem Luaibi [Elaibi] has issued a stern warning to the KRG over their attempts to export large quantities of crude oil to Turkey, describing it as "a red line". "The Kurds are under obligation to ferry all the oil they produce to the national export systems," said the […]
By John Lee. Iraq has again told Exxon Mobil that it must choose between working in its southern oilfields or in Kurdistan. Reuters reports that Oil Minister Abdul Kareem Luaibi [Elaibi] expects the company to make a final decision within a few days, adding: "We made it clear to Exxon in the last meeting that the […]
By John Lee. Iraqi Kurdistan's energy minister, Ashti Hawrami, is reported as saying that the KRG has awarded Chevron a stake in the Qara Dagh oil block (pictured). Jay Pryor, Chevron's Vice President for business development, met with Kurdistan President Mr Masoud Barzani at the World Economic Forum in Davos, reports Steel Guru. During the […]
By John Lee. Genel Energy has announced that closing has taken place on its acquisition of the remaining 49 per cent participating interest in the Miran exploration block in the Kurdistan Region of Iraq. On 12 November 2012, Genel Energy announced that Heritage Oil issued the Exchange Repayment Notice signifying its intention to repay the […]
By John Lee. Prime Minister Nouri al-Maliki held talks with ExxonMobil chief Rex Tillerson (pictured) on Monday. AFP reports that the meeting was the first between the two since the firm signed an oil exploration agreement with Kurdistan in October 2011, a move which angered Baghdad, which has said the company must choose between its deals with […]
President of Iraqi Kurdistan, Masoud Barzani, hosted foreign diplomats and representatives of international organizations based in Erbil last week to discuss the latest political and economic developments in Kurdistan and in Iraq and to reflect on 2012. The annual gathering, attended by Minister Falah Mustafa Bakir, Head of KRG Department of Foreign Relations, touched on […]
Genel Energy has issued the following trading and operational update in advance of the Company's 2012 full year results, which are scheduled for release on 28 February 2013. Information contained within this release is un-audited and may be subject to further review. Tony Hayward (pictured), Chief Executive said: "2012 saw a strong production performance and […]
By John Lee. The American University of Iraq, Sulaimani, invites nominations and applications for the position of President. AUIS is a private, non-profit higher education institution founded in 2007 to provide a student-centered American-style education that embodies the philosophy, standards, and teaching practices of the American higher education model. AUIS admits all qualified students regardless […]
By John Lee. Reuters has reported that BP will undertake work to arrest declining production at the Kirkuk oilfield, in a move that has outraged the Kurdistan Regional Government. Abdul Mahdy al-Ameedi, head of the oil ministry's Petroleum Contracts and Licensing Directorate (PCLD), told The Wall Street Journal that a request has been sent to […]
The Kurdistan Regional Government has issued a strongly-worded statement challenging the policy of the Federal Government and the Ministry of Oil: The Kurdistan Regional Government is proud of the achievements of its oil and gas industry since the fall of the former regime in 2003. It expects the federal government of Iraq to be proud […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Kurdish military officials and the Iraqi central government are currently trying to defuse an armed confrontation over a disputed northern territory. Kurdish military officials said the forces of Nouri al-Maliki, Iraqi prime minister, […]
Iraq's State Oil Marketing Organization (SOMO) has issued a statement suggesting it will take legal action against companies exporting crude oil without dealing with the central government, including the confiscation of cargoes and the filing of lawsuits against sellers, buyers and transporters. The statement reads as follows: "In accordance with the provisions of Laws No. […]
