The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
Following a significant upgrade in the gross reserves of the Tawke oilfield in the Kurdistan Region of Iraq, Genel Energy plc today announced that it is to embark along with its partners, on a plant and pipeline upgrade which will significantly increase the production capacity of the field. The London-listed Anglo-Turkish company said that the […]
Gulf Keystone provided an update on Monday morning on its ongoing exploration and appraisal programme in the Kurdistan Region of Iraq, which includes the Shaikan block, a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels calculated on the P90 to P10 basis with a mean value […]
The Sunday Times reports that Genel Energy Plc will announce a deal this week to buy a 40 percent share in Longford Energy's Chia Surkh oil field in northern Iraq. According to the report, the deal would be worth $70 million, and Genel, run by the former CEO of BP, Tony Hayward, declined to comment. […]
Authorities in Iraqi Kurdistan are planning to build 12 dams in the semi-autonomous region in an attempt to save about 20 billion cubic meters of water per year, according to a report from AKnews. Currently, there are three main dams in the Kurdistan Region, two in Sulaimaniya province, and one in Duhok province, but these […]
More than 40,000 tourists entered Iraqi Kurdistan Region for the New Year celebrations, roughly four times as many as the previous record, AKnews reports. The press secretary for the Kurdistan General Tourism Board, Nadr Rosti, told the news agency that in 2011 more than 10,000 tourists visited Kurdistan during the New Year. But in the […]
The Netherlands’ Deputy Head of Mission to Iraq, Mr Lars Tummers, today announced that the Dutch government has decided to station a diplomat in the Kurdistan Region. In his meeting with the Kurdistan Regional Government’s Head of Foreign Relations Minister Falah Mustafa, Deputy Tummers said that the Dutch Foreign Ministry has decided to upgrade its […]
In an effort to enhance cooperation and trade relations with the Kurdistan Region, the Swedish Minister of Health and Social Affairs, Mr Göran Hägglund, visited the region with a business delegation this week. During his visit, Sweden announced that it will upgrade its diplomatic presence from an honorary consulate to an Embassy Office. The visit […]
In Iraqi Kurdistan, locals are enjoying a property boom. As demand outstrips supply, buying off-the-plan is more popular. But if this housing bubble bursts, the region could face severe economic and political consequences, according to this article from Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of […]
The Middle East Association, in partnership with UK Trade & Investment and the Kurdistan Regional Government, will be leading a Trade Delegation to Iraqi Kurdistan in the spring of 2012, visiting Erbil and Sulaymaniyah. Mission Participants will have the opportunity to meet government ministers, senior business leaders, and the local Chambers of Commerce. The Kurdistan […]
As the US military withdrawal continues, many are worried at the possibility of increased militancy over the coming year in Iraq. Levels of violence rose over the past week with the highest number of casualties recorded in six months. As warned, terrorists targeted Shi’ah worshippers gathering to commemorate Ashura, with a number of attacks in […]
Speech by KRG Minister Herish Muharam, Chairman of the Kurdistan Investment Board, to “Iraq – Untapped Opportunities” Conference in London. Ladies and Gentlemen, I’m very pleased to participate in this important conference on the untapped opportunities in Iraq. As the Chairman of the Kurdistan Board of Investment, it’s my pleasure to be speaking to you, […]
Russian news agency RBC Daily reports that Lukoil, Russia’s second-largest oil producer, is looking to expand its business in Iraq through buying part of ExxonMobil's 60% stake in the West Qurna 1 field. If the deal goes ahead Lukoil would hold 37.5% of the business. It is already in partnership with Norway's Statoil in the […]
