The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
Business is booming at Sulaimaniyah International Airport, with more than 2,000 flights since the beginning of 2010. From January 2010 to the end of August, there were 2,381 flights to and from the airport, Dana Mohammad the media director of the airport, told AKnews. A total of 107,581 passengers have flown through the airport during […]
ShaMaran Petroleum (TSX VENTURE:SNM), the Canadian oil company with operations in Iraqi Kurdistan, has announced a new share placing to raise capital. The Vancouver-based company has agreed to sell, on a non-brokered, private placement basis, an aggregate of up to 111.2 million common shares at a price of Cdn $0.45 per share for gross proceeds […]
Baghdad has increased the stakes in the row that has flared up over the new German/Kurdish gas contract. Last week we reported on the dispute relating to KRG's agreement with German energy giant RWE. Now AKnews reports that the Iraqi oil ministry said last week that it will cut Kurdistan’s fuel share in half as […]
The German government has refused to be drawn into the row over RWE's new gas agreement with the Kustdistan Regional Government. The Iraqi oil ministry has said the agreement is illegal because the country's oil and gas are federal resources to be administered centrally. Asked about the dispute, a spokesman for the German economy ministry […]
Jordan’s Minister for Industry and Trade, Amer al-Hadidi, led a business and investment delegation to the Kurdistan Region following the recent visit of President Masoud Barzani to Jordan. The delegation met President Barzani, Kurdistan Regional Government (KRG) Prime Minister Barham Salih, and several ministers while participating in a joint business forum at Erbil Convention Centre. […]
DNO's shares were up 0.9% in mid-morning trading on the Oslo stock exchange, following the release of July production figures. DNO’s working interest production increased from 23,478 bopd in June to 27,279 bopd in July, and net entitlement production increased from 15,135 to 17,621 bopd. The increase is mainly due to higher deliveries of crude […]
ShaMaran Petroleum, the Canadian oil and gas company, has announced that it has entered into an agreement with Aspect Energy International to acquire a one third stake in General Exploration Partners, a wholly owned subsidiary of Aspect. The Kurdistan Regional Government of Iraq ("KRG") and GEP are parties to a Production Sharing Contract dated November […]
We reported yesterday on the new gas deal between the Kurdistan Regional Government and the German giant RWE. Today, a new row has broken out between Erbil and Baghdad regarding the legality of Kurdish oil and gas contracts. Aswat al-Iraq reports that the Iraqi Oil Ministry, through the State Organization for Marketing Oil (SOMO), claimed […]
Prime Minister Barham Salih today announced the signing of a Cooperation Agreement between the Kurdistan Regional Government and RWE. The RWE Group is a leading European utilities company headquartered in Essen, Germany. It has extensive experience in the building, modernisation, and upgrading of energy infrastructure. Under the agreement, RWE will provide assistance to the KRG […]
Kurdistan Regional Government (KRG)’s prime minister promised Kurdish parliamentarians during a meeting on Wednesday to allow them access to all documents related to the KRG’s controversial oil contracts, exports and revenues, said the head of the major opposition group in Kurdistan parliament. In a meeting intended to mend fences with opposition groups in the parliament, […]
Shares in Heritage Oil, which is actively drilling in Iraqi Kurdistan, were up 1.3% this morning following the announcement of interim results: HERITAGE OIL ANNOUNCES 2010 INTERIM RESULTS Heritage Oil Plc (LSE: HOIL), an independent upstream exploration and production company, announces the publication of its interim results for the six months ended 30 June 2010. […]
Minister of Natural Resources in the Kurdistan Regional Government, Ashti Hawrami, announced on Thursday that his ministry seeks to increase the daily oil production in the region to 3-4 million barrels in the next four years, noting that revenues will increase during this period to $25 billion [30 trillion Iraqi dinars]. “The region has 45 […]
