The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
By John Lee. GE Gas Power has signed an agreement with Taurus Arm, owner of the 500 megawatts (MW) Bazyan [Bazian] Power Plant, to provide parts, repairs, and services for two 9F.04 gas turbines at the facility for a period of 16 years. The turbines were supplied by GE to Taurus Arm in 2021 under […]
TotalEnergies has completed the divestment of its 18-percent interest in the onshore Sarsang oil field in the Kurdistan region of Iraq, to ShaMaran Petroleum Corp., a company listed in Canada and Sweden and focused on oil exploration and development in Kurdistan, for a firm consideration of $ 155 million. An additional contingent consideration of USD […]
By John Lee. The Kurdistan Regional Government (KRG) has announced a new tendering process for medicines. According to a statement from the KRG, the new system will stabilise the price of 230 different medications. KRG Prime Minister Masrour Barzani commented: "Through transparent contracts, we will provide our citizens with better quality medicine at a lower […]
KRG Prime Minister Masrour Barzani on Sunday visited the Kurdistan Regional Government's Department of Information Technology (DIT). After reviewing the work of the Department, Prime Minister Barzani inaugurated the government's Central Data Center, a sophisticated and protected system that provides information in all different sectors, and helps elevate the work of KRG institutions. Prime Minister […]
By John Lee. According to a report from Reuters, oil production in Iraqi Kurdistan could almost halve by 2027 if there is no new exploration or major investment in the sector. Click here to read the full report. (Source: Reuters)
By John Lee. The US's newly-appointed Consul General in Erbil has said that existing contracts between international oil companies (IOCs) and the Kurdistan Regional Government (KRG) must be respected. Consul Irvin Hicks Jr. made the comment following a meeting with the KRG's Minister of Natural Resources, Kamal Muhammed Salih, on Wednesday. In a statement issued […]
From the Kurdistan Regional Government: The Kurdistan Regional Government strongly condemns the letter issued on 23 August 2022, by Iraq's State Oil Marketing Organization (SOMO) that threatens legal action against buyers and traders of crude oil produced in the Kurdistan Region. SOMO's letter is nothing more than another drip in a stream of disinformation published […]
By John Lee. Three companies have reportedly stopped operations at Kurdistan's Khor Mor gas field following rocket attacks. According to Reuters, the companies are Texas-based Exterran, and Turkish subcontractors Havatek and Biltek. The field is operated by Pearl Petroleum, a consortium led by UAE-based Dana Gas and Crescent Petroleum. More here. (Source: Reuters)
By John Lee. The Kurdistan Regional Government (KRG) has launched a digitised driving licence system. In a press release this week, KRG Prime Minister Barzani is seen renewing his own driving license using the new system. Prime Minister Barzani praised the Ministry of the Interior and the company in charge of implementing the new process, […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will oil dispute with Baghdad shift dynamics within Iraqi Kurdistan? In Iraq, the federal government and the authorities in the Kurdistan region are locked in a serious and multipronged dispute over the country's […]
By John Lee. As part of reform efforts by the Kurdistan Regional Government's ninth cabinet to improve the delivery of public services and foster economic development in the Kurdistan Region, Prime Minister Masrour Barzani (pictured) has announced the government will allocate 736.7 billion dinars [$505 million] for the years 2022 and 2023 in cash and […]
The Kurdistan Regional Government's Ninth Cabinet has implemented several projects and authorized numerous others since assuming office on July 27, 2019. In the past three years, the Cabinet has authorized the implementation of 206 investment projects with a total budget of $11,629,355,000 in different areas of the Kurdistan Region. Crucially, of those 206 projects, 202 […]
