The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
WFP Iraq partners with the Department of Information Technology at the KRG towards improving social protection for the people The United Nations World Food Programme (WFP) signed a Letter of Understanding (LoU) with the Kurdistan Regional Government, Department of Information technology (KRG-DIT) to formalise their collaboration on improving and reforming the Social Protection System in […]
By John Lee. Fitch Ratings has said that Iraq's government debt is set to fall steeply as a share of GDP in 2022, bringing it to pre-Covid-19 pandemic levels. It adds that while this is positive for the sovereign's creditworthiness, the decline may not be sustainable, as it partly reflects political tensions that have constrained […]
By John Lee. Iraq has recalled its Charge d'Affairs from Ankara for consultation, and suspended the appointment of a new Iraqi ambassador to Turkey, following a airstrike on a tourist resort in Zakho, in Iraqi Kurdistan. At least eight civilians were killed in the attack, including several children. The Iraqi Cabinet also directed the Ministry […]
By Douglas A. Ollivant for War on the Rocks. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Barzani Goes to Baghdad: Trouble in the Kurdish Oil and Gas Sector A recent Federal Supreme Court decision in Iraq has put a legal stake in the […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Local farmers face difficulties competing with imported goods Local farmers in the Kurdistan Region struggle to make profit with their produce as the markets are flooded with imported goods. Click here to read the […]
By John Lee. Fitch Ratings has assigned the Kurdistan International Islamic Bank (KIIB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's "weak franchise, unstable business model and operations in the highly volatile operating environment of Iraq". More here. (Source: Fitch Ratings)
By John Lee. The Iraqi Ministry of Oil has confirmed reports that three major US-based oilfield services companies have informed the Ministry that they will refrain from entering into new projects Iraqi Kurdistan. It says that Schlumberger, Baker Hughes and Halliburton have made the commitment to comply with the Federal Supreme Court ruling that oil […]
By James Jeffrey, Matthew Amitrano and Bilal Wahab for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The KRG Turns Thirty: The Future of U.S.-Kurdish Relations in Iraq Three experts evaluate the KRG's oil and gas industry […]
By John Lee. Schlumberger has reportedly announced its withdrawal from Iraqi Kurdistan, as a result of the Federal Supreme Court ruling that oil contracts signed with the Kurdistan Regional Government (KRG) are unconstitutional. Sources told the official Iraqi News Agency that the US-based oilfield services company "sent a letter with an official document to the […]
By Michael Knights, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Necessary U.S. Role in Fixing the Baghdad-Kurdistan Energy Dispute On February 15, 2022, Iraq's Federal Supreme Court ruled that the 2007 oil and gas […]
By John Lee. Dana Gas has said that following the incident on the 22nd of June, two further small rockets landed within the Khor Mor Block in the Kurdistan Region of Iraq on Friday and Saturday, respectively. It says there were no injuries or damage. In a statement to the Abu Dhabi Stock Exchange, the […]
From the Kurdistan Regional Government: Like citizens across the Kurdistan, I have been deeply troubled by the repeated terror attacks on our people and public infrastructure in recent months. The cowards behind the attacks have resorted to terror tactics because they have lost the court of public opinion in the rest of the country. Rather […]
