The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG will see 20 billion dinars monthly from new corporate tax on internet and telecom companies: official The Kurdistan Regional Government (KRG) will attempt to bring in nearly 20 billion dinars [approx $13.7 million] […]
By John Lee. US Consul General Robert Waller has met with Ahmed Qadir [Ahmad Kadir Ismail Al Majidi], Chairman of HewaHolding, which owns the Fatburger and The Coffee Bean and Tea Leaf franchises in Erbil. While visiting Erbil's Majidi Mall, they discussed the company's future plans to expand and bring other American brands to the […]
In response to [Tuesday's] sentencing of Iraqi Kurdish freelance journalists Sherwan Amin Sherwani and Guhdar Zebari to six years each in jail, the Committee to Protect Journalists (CPJ) has issued the following statement: "Today's sentencing of journalists Sherwan Amin Sherwani and Guhdar Zebari is not only unfair and disproportionate, but it also proves that the […]
Genel Energy has issued an update on oil reserves and resources across its portfolio. Bill Higgs (pictured), Chief Executive of Genel, said: "The quality of our reserves is the foundation of our resilient business model, providing us with low-cost production that can generate cash for many years to come. "Drilling at Sarta this year has […]
Gulf Keystone Petroleum (GKP) has provided a Competent Person's Report ("CPR") update on the Shaikan Field in which it has an 80% working interest. The CPR, an independent third-party evaluation of the Company's reserves and resources as at 31 December 2020, was prepared by ERC Equipoise ("ERCE"). Jon Harris, Gulf Keystone's Chief Executive Officer, […]
DNO ASA, the Norwegian oil and gas operator, has announced it replaced 87 percent of 2020 production through additions to its proven (1P) reserves notwithstanding reduced activity in the wake of low oil prices. In the Kurdistan region of Iraq, the Company replaced 111 percent of last year's production through additions to 1P reserves. Yearend […]
DNO ASA, the Norwegian oil and gas operator, has announced the acquisition of ExxonMobil's 32 percent interest in the Baeshiqa license in the Kurdistan region of Iraq, doubling DNO's operated stake to 64 percent (80 percent paying interest), pending government approval. The Company plans to continue an exploration and appraisal program on the license while […]
Dana Gas PJSC, the Middle East's largest regional private sector natural gas company, today announced its Preliminary Unaudited Financial Results for the full year ended 31 December 2020. The Company reported a Net Profit of $36 million (AED 131mm) versus $88 million (AED 322mm) in 2019, excluding one-off non-cash impairments and other income. Including these […]
DNO ASA, the Norwegian oil and gas operator, today reported interim 2020 revenues of USD 615 million, down a third from a year earlier in the wake of weak oil prices triggered by the pandemic and global economic contraction. Net production totaled 95,100 barrels of oil equivalent per day (boepd), down nine percent, as the […]
Ministry of Health Kurdistan, UNFPA open COVID-19 isolation unit at Soran maternity hospital The Ministry of Health of the Kurdistan Regional Government through the Directorate of Health in Erbil, with support from UNFPA opened a COVID-19 isolation unit at the Soran Maternity hospital in Erbil on 3 February 2021. The isolation unit has the capacity […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG raises electricity rate by 20% The Kurdistan Regional Government's (KRG) Ministry of Electricity is increasing the price of national electricity by 20 percent, the spokesperson told Rudaw on Monday. Click here to read […]
By John Lee. At least 24 Iranian traders have set up shop in Dohuk this week alone, according to a report from AP. Pressure as a result of sanctions on Iran are causing Iranian businesses to look more to Iraq for customers. Click here to read the full report from AP. (Source: AP)
