The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
Sales and cash-flow were up at Norwegian oil producer DNO in the second quarter of 2010, but its shares are down 0.8% this morning on the Norwegian bourse. The company, which has significant operations in Iraqi Kurdistan, issued the following statement: DNO International ASA achieved an EBITDA of NOK 171 million [$27.8m] from total sales […]
An Iranian trade center was opened on Wednesday in the Kurdistan Region’s second largest city of Sulaimaniya, with Iran’s assistant trade minister and local officials in attendance, according to AKnews. It is the second Iranian trade center in Kurdistan and it includes wholesale and retail sections for agricultural, technology, housing, and food products. Around 45 […]
ShaMaran Petroleum Corp. (TSX VENTURE:SNM) has announced that the Company has entered into an agreement with the Kurdistan Regional Government of Iraq ("KRG") to amend the Pulkhana Block 10 and the Arbat Block Production Sharing Agreements ("PSC"). The amendments relieve the Company of its contractual requirement to allot 150 million common shares of ShaMaran for the […]
Dana Gas PJSC, the Middle East’s largest regional, private sector, natural gas company, has announced its financial results for the quarter ended 30th June 2010. Revenue from the sale of hydrocarbons increased to AED 428 million, with gross profit reaching AED 179 million. These figures represent increases of 41% and 84% respectively, compared to the […]
Gulf Keystone has announced the results of further testing of the Mus (1,627m to 1,667m) section of the Jurassic on its Shaikan-1 discovery well. Final, stable, production rates during this week's re-test, using a much improved test setup versus the original 2009 test, were measured at 1,250 bopd with an API gravity of 19.7 degrees […]
Based on a proposal from RAK Petroleum PCL and after consultation with other shareholders, the Board of DNO International recommended to the General Meeting (AGM) on 17 June 2010 that Dr. Zalmay Khalilzad and Ms. Shelley Watson be elected as new members of the Board of Directors. DNO has received the following statement from Dr. […]
Shares in Gulf Keystone rose 15% on Tuesday, following a 're-organisation of interests' in Iraqi Kurdistan - rumours also continue to circulate regarding a possible bid for the company from China. Gulf Keystone confirms that certain Production Sharing Contract ("PSC") amendments were approved and executed by the Kurdistan Regional Government (KRG) and all the other […]
Shares in WesternZagros Resources were up 4% in early trading, following an update on it's operations in Iraqi Kurdistan. The company reports that it has recovered an additional 1655 metres of drill string at the Kurdamir-1 well, with approximately 800 metres remaining in the well bore. The current operations have proven to take longer than […]
BPS Drilling has plans to open its operational office in the City of Erbil, located in the Kurdish Region of Iraq. BPS will open an operational office in the capital city of Erbil along with secure storage space to support its drilling operations. The company plans to include a full well test/early production facility as […]
Sterling Energy, the AIM listed independent oil & gas, exploration & production company with interests in the Middle East and Africa, has given an update on its activities at the Sangaw North exploration well, in Iraqi Kurdistan: Operations at the Sangaw North #1 exploration well have been halted following a failure of drilling rig equipment. […]
An additional 13 agricultural silos are to be build in the Kurdistan Region by the end of 2013, lifting the storage capacity up to one million tons, said an official source on Sunday, as reported by AKnews. Before Saddam Hussein’s fall in 2003, there were two silos in the region with a storage capacity of […]
The Kurdistan Regional Government has signed a trade contract with the Republic of Belarus, AKnews reported on Sunday. Last week a Belarusian delegation including the representatives of the Belarus trade and foreign ministries arrived in the Region. Speaking to AKnews, Fida’eddin Gardi, a member at Erbil Chamber of Commerce and Trade, told AKnews the contract […]
