The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
Deloitte report on Oil and Gas review in the Iraqi Kurdistan Region - Q1 to Q3 of 2020 The KRG's Regional Council of Oil and Gas Affairs has published a report containing verified statistics covering the Kurdistan Region's oil exports, consumption and revenues for period 1 January 2020 to 30 September 2020. The report, available […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed the day up more than 5 percent on Wednesday, after the Kurdistan-focused oil producer provided an operational and corporate update to the markets. Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "I am pleased to report that throughout 2020, Gulf Keystone successfully managed the challenging […]
ShaMaran Petroleum has announced that the January 2021 interest payment due on its 12% senior unsecured bonds due 2023 (ISIN: NO 001082645.6) has been timely made to all Bondholders. In addition, ShaMaran said the Atrush field total cumulative crude oil production has exceeded 40 million barrels. The Atrush field is located 85 km northwest of […]
By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG), Masrour Barzani, has nominated Dr. Kamal Atroshi to the post of Minister of Natural Resources, a position which includes responsibility for the oil and gas portfolio. A statement from KRG spokesperson Dr. Jotiar Adil said, "It is our hope that the Kurdistan Parliament […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Erbil hotel and restaurant owners protest ban on New Year celebrations Hotel and restaurant owners in Erbil protested on Sunday against the Kurdistan Regional Government (KRG) Ministry of Interior's decision to ban New Year […]
Wave of arrests of journalists covering protests in Iraqi Kurdistan Reporters Without Borders (RSF) condemns a wave of press freedom violations in northern Iraq's autonomous Kurdistan Region, where at least 10 journalists have been arrested while covering peaceful protests during the past week, one has been placed in pre-trial detention and a regional TV channel, […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Price hikes at Sulaimani market following dinar devaluation Traders in Sulaymaniya (Slemani) say the devaluation of the Iraqi dinar is driving up prices for local shoppers. Click here to read the full story. (Picture […]
Dana Gas has announced the production of sales gas from Pearl Petroleum's Khor Mor Gas Plant in the Kurdistan Region of Iraq (KRI) reached a new record level of 430MMscf/d on 15 December 2020. Fourth quarter's average gas production as of 15 December 2020 is 400MMscf/d, an 8% increase on Q4 2019's average production of […]
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. Iraq, Turkey agree to cooperate on counterterrorism, trade Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Mustafa al-Kadhimi committed to enhanced cooperation on terrorism, trade and energy, although […]
By John Lee. Genel Energy has received notice from the Kurdistan Regional Government ('KRG') that override payments, whereby Genel receives 4.5% of monthly Tawke gross field revenues, will resume with the January 2021 invoice, to be paid in February 2021. Assuming the prevailing oil price, this translates into over $5 million of additional cash proceeds […]
By John Lee. Oryx Petroleum Corporation has announced that it has changed its name to Forza Petroleum Limited. 2021 Budgeted Capital Expenditures Budgeted capital expenditures for 2021 are $51 million and dedicated exclusively to the Hawler license area. The planned work program involves drilling five new wells into proven, producing reservoirs and reservoirs still being […]
By John Lee. Russia's Gazprom Neft has produced its four-millionth tonne (32-millionth barrel) of oil since starting commercial development of the Sarqala field in the Kurdistan Region of Iraq (KRI). Three wells are now in operation at this field, with daily production running at about 3,100 tonnes (24,000 barrels) per day. Limitations arising under the COVID-19 pandemic notwithstanding, Gazprom […]
