The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
By John Lee. Reuters reports that oil exports from Iraqi Kurdistan have halved to around 100,000 bpd in recent days. An Iraqi oil official said on Monday that the Kurdistan Regional Government had told Baghdad's State Oil Marketing Organization (SOMO) that exports were reduced because operators were "facing some technical problems that will take some […]
By John Lee. General Exploration Partners (GEP) has signed a purchase and sale agreement to sell 53.2% of its participating interest in the Atrush Block to Abu Dhabi National Energy Company PJSC (“TAQA”). In conjunction with the sale, Aspect Energy International, LLC will divest itself of any interest in GEP, leaving ShaMaran Ventures B.V. (a […]
By Roman Zagros. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Recently tensions between Baghdad and Iraqi Kurdistan have run high, complete with a military stand-off. The crisis seems to have been defused now. But if it […]
By John Lee. Reuters reports that LUKoil, Russian’s biggest non-state oil producer, which is believed to be considering buying ExxonMobil's stake in the West Qurna-1 oil field, has bought oil from Kurdistan in defiance of Baghdad. Baghdad has long insisted it has the sole right to export oil, but LUKoil's Geneva-based trading arm Litasco has […]
Ukraine’s Foreign Minister Gryshchenko Kostyantyn on his first visit to the Kurdistan Region met with President Masoud Barzani, Prime Minister Nechirvan Barzani, and government ministers in Erbil. Mr Kostyantyn came to the Kurdistan Region as part of his visit to Iraq and arrived in Erbil from Baghdad. President Barzani and Foreign Minister Kostyantyn discussed ways […]
The Kurdistan Region President and Prime Minister last week met with France’s Ambassador to Iraq, Mr Gauer Denys, and a French business delegation representing major French companies and business associations. In his meeting with the delegation, President Masoud Barzani said that the Kurdistan Region is eager to enhance economic relations with French companies and thanked […]
A senior delegation from the Kurdistan Regional Government discussed ways to further strengthen bilateral relations with the UK at a meeting with Britain's Minister for the Middle East, Alistair Burt. Falah Mustafa Bakir, Head of the KRG Department of Foreign Relations, and Professor Serwan Baban, Minister of Agriculture and Water Resources, met Mr Burt while […]
By John Lee. The chief executive of French energy giant Total, Christophe de Margerie (pictured), has said that it is not clear if Iraq wants the company to withdraw from the Halfaya oilfield due to its dealings in Iraqi Kurdistan. Total recently acquired a 20 percent interest in the Taza oil exploration block there from […]
By John Lee. Vast Exploration has announced that along with its consortium partners, Niko Resources and Groundstar Resources, it has entered into a relinquishment and termination agreement with the Kurdistan Regional Government to surrender their collective interests in the Qara Dagh Block (pictured). Vast acquired a working interest in the block under a production sharing […]
By John Lee. The Abu Dhabi National Energy Company (TAQA) is said to be in advanced talks to buy a stake in the Atrush Block in Iraqi Kurdistan. The Atrush Block is operated by the joint-venture company General Exploration Partners (GEP) which holds an 80 percent working interest in the Block. Aspect Holdings, LLC through […]
By John Lee. Shares in Afren closed down 1.8 percent on Tuesday following the company's interim management statement. Afren gave the following update on its operations in Iraqi Kurdistan: Barda Rash Having commenced an extensive testing programme at the BR-1 well in July 2012 and establishing oil rates in excess of 6,000 bopd of 28° […]
By John Lee. Prime Minister Nechirvan Barzani and a delegation of senior officials from the Kurdistan Region concluded a two-day visit to the Islamic Republic of Iran yesterday to promote greater cooperation in economic and trade relations. With the volume of trade between the Kurdistan Region and Iran estimated to be around $8 billion this […]
