The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
According to a report from AKnews, the Belarusian government is planning to build a factory to make tractors, trucks, and agricultural machinery in Iraqi Kurdistan. A delegation of Belarusian investors and businessmen, led by the Belarusian Industry minister, announced the plan on Wednesday at a meeting with Erbil's governor, Nawzad Hadi. The foreign delegation made […]
According to a report from Press TV, Iran and Iraq's Kurdistan may agree a visa waiver scheme to facilitate cross-border travels as part of a program of increased cooperation between the two sides. To facilitate cross-border travel for both Iranians and the citizens of the Kurdistan region in northern Iraq, and to encourage trade and […]
Shares in Heritage Oil fell 17% this morning following their announcement of a major gas find in Kurdistan. [UPDATE: the shares ended the day down 29%] While the discovery is very significant, the market was hoping for oil rather than gas, leading to a share sell-off. The full text of the announcement follows: Heritage Oil […]
Further to our report last week that oil exports from Iraqi Kurdistan will resume at the start of February, the Kurdistan Regional Government (KRG) has issued a statement confirming the agreement, and addressing the conflict with Baghdad over the budget. The full statement is shown below: Kurdistan Region Prime Minister Barham Salih (pictured) this week […]
The spokesman for the Kurdistan Region’s investors said the UK government is planning to issue two-year visas for businessmen from Iraqi Kurdistan, adding that the British government also seeks to open a branch of its banks in the Region as well as introducing assurance [insurance] and consultancy companies. According to the report from AKnews, the […]
The Iraqi oil ministry has agreed with its Kurdish counterpart to pay exploration costs and expenses to the foreign firms working in the Kurdistan Region of Iraq, according to a report from Reuters. Spokesman Asim Jihad told the agency that the State Oil Marketing Organisation (SOMO) will be responsible for payments to the companies, which […]
The number of reconstruction and housing projects undertaken by the Kurdistan Regional Government (KRG) rose by 24 in 2010, with a value increased by $83m. According to the KRG Ministry of Reconstruction and Housing, in 2010 some 368 projects were completed in the three provinces. The overall value of the projects funded by the ministry […]
Overview Levels of violence fell last week, but the past 48 hours have seen three suicide attacks in the central provinces, killing dozens and injuring over 200. As with the recent spate in assassinations in the centre of the country, the main target of the suicide bombers were state employees and members of the Iraqi […]
Reuters reports that Iraq's semi-autonomous Kurdish region of Iraq has agreed with Baghdad to resume oil exports from the start of February, the Kurdish prime minister Barham Salih (pictured) said, taking the two sides closer to resolving bitter disputes over oil and land. Around 40 companies, such as Norway's DNO, have invested in Kurdistan, but […]
In a recent interview on EU's energy security with World Security Network Foundation (WSN), former Austrian Chancellor Dr. Wolfgang Schüssel (pictured) said that Europe should also diversify sources of energy supply by looking, for instance, to the Kurdish Region of Iraq. Europe is heavily dependent on Russia for its energy supply, especially natural gas, which […]
Vast Exploration and Groundstar Resources have issued an update on the drilling progress of the Qara Dagh - 1 Exploration Well. Since the last update on December 13, 2010 the well has been drilled down to 2,522 meters, and over the past several days, an intermediate 9 5/8 inch casing string has been successfully set […]
A delegation of companies from Northern Ireland has just completed its first trade mission to Kurdistan and deemed it an excellent introduction to the region that may lead to business in the future. Seventeen companies from Northern Ireland, which is one of the autonomous regions of the UK, spent five days in Erbil and met […]
