The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
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 […]
By John Lee. France's Total is reported to be in talks to sell its 18-percent stake in the Sarsang block in Iraqi Kurdistan, in a move aimed at reducing the company's debt. Bloomberg says the company is working with Jefferies Financial Group on the deal, adding that the holding could be worth as much as […]
KRG Prime Minister Masrour Barzani has presided over the contract signing ceremony between the Ministry of Interior and Germany's Mühlbauer Group to digitalize key public services. During the ceremony, the Prime Minister said that the KRG has no choice but to move forward with technological advancements, recalling the cabinet's agenda on digitalization and commitment to […]
By John Lee. Genel Energy has announced that, following first oil production last week, first liftings have taken place from the Sarta field (Genel 30% working interest). According to a statement from the company, the Sarta-3 well is producing at an initial rate of over 5,000 bopd, with an API gravity of c.27 degrees, in […]
