The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
By Amberin Zaman for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Family power grab in Iraqi Kurdistan raises fears of intra-Kurdish violence Talabanis strip their cousin of all powers amid a power struggle in the Kurdistan Regional Government's Patriotic Union […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today announced that the Kurdistan Regional Government has approved the Company's acquisition of ExxonMobil's remaining 32 percent interest in the Baeshiqa license, doubling DNO's stake. In parallel, commerciality has been declared on the license with plans submitted for fast-track development including early production from previously […]
By Saman Dawod for Al-Monitor. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi Kurdistan water crisis blamed on climate and Iran Iraq's Kurdistan Regional Government (KRG) has asked citizens to ration water. Click here to read the full story.
DNO ASA, the Norwegian oil and gas operator, has reported operating profit of USD 61 million in the quarter ending 30 June 2021, its second consecutive profitable quarter since the onset of the COVID pandemic. Revenues totaled USD 184 million, up USD 14 million from the previous quarter, as higher oil and gas prices more […]
The Council of Ministers of the Kurdistan Region of Iraq has approved Soran and Zakho as autonomous administrations, in a meeting led Prime Minister Masrour Barzani. Prime Minister Barzani cited the size and significance of both districts as reasons to grant them autonomy, and proposed that self-governance would ease the workload of people in those […]
KRG receives share of federal budget, ends salary cuts Prime Minister Masrour Barzani on Sunday led a meeting with the Kurdistan Region's Economic Council to address the resumption of full salary pay for government employees. Prime Minister Barzani reiterated that the KRG pays salaries from available revenue, and that they can do so more reliably […]
By John Lee. Dana Gas PJSC announced that its H1 2021 collections from the Kurdistan Region of Iraq (KRI), and Egypt have increased 106% year-on-year to $185 million (AED 678m), the highest level in more than five years. Dana Gas, which owns a 35% stake in Pearl Petroleum, saw its share of collections from sales […]
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's Kurdistan Region detects first case of Delta Variant Several Middle Eastern governments have instituted measures aimed at mitigating the spread of COVID-19 variants recently. Click here to read the full […]
The ninth cabinet of the Kurdistan Regional Government (KRG) started 27 multisectoral projects from March 2020 to June 2021, as it reaches the 2nd anniversary since its foundation. The KRG invested $332 million on housing projects, developed a $250 million wheat marketing project, distributed $2.56 billion worth of business licenses, and completed the MED Steel […]
By Amberin Zaman for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Talabani family feud at center of power struggle in Iraqi Kurdistan party The apparent takeover of the Iraqi Patriotic Union of Kurdistan party by Bafel Talabani is more family […]
By John Lee. ShaMaran Petroleum has announced that it has signed an agreement with a subsidiary of French major TotalEnergies S.E. to acquire its affiliate (TEPKRI Sarsang A/S) holding an 18% non-operated participating interest in the Sarsang Production Sharing Contract in the Kurdistan Region of Iraq for an initial consideration of USD 155 million plus […]
By John Lee. Construction has reportedly begun on a $340-million steel factory in Erbil. According to Kurdistan24, the plant will produce 750,000 tons of steel annually, some of which will be produced from scrap. It is expected to open in February 2022. More here. (Source: Kurdistan24)
