The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
By John Lee. Shares in Genel Energy plc were trading lower in Friday after the company said negotiations were continuing regarding the Bina Bawi field in Iraqi Kurdistan. In a statement, the company said: "Extensive documentation was received in mid-April from the Kurdistan Regional Government ('KRG') following the commercial understanding reached in September 2019. The […]
By John Lee. Baghdad is said to have stopped payments to the Kurdistan Regional Government (KRG). Writing for Argus Media, Rowena Edwards says central government will also seek to recover payments made since the start of the year, in the absence of KRG transfers of crude oil, which were part of the as-yet-unsigned 2020 budget. […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up around 10 percent on Thursday morning, following the company's announcement of its results for the year ended 31 December 2019. Jón Ferrier (pictured), Gulf Keystone's Chief Executive Officer, said: "2019 saw a step change in activity at Shaikan; we delivered production and controlled expenditures […]
By Alice Bosley and Patricia Letayf, Co-Founders of Five One Labs. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Start-Ups will Overcome Coronavirus - And Be More Important Than Ever Over the past months, coronavirus has changed the world as we know it. […]
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. An official Kurdish delegation arrived on Sunday in the Iraqi capital Baghdad to discuss oil production. "The delegation, led by the Kurdistan government's Finance Minister, Awat […]
By John Lee. Russia's Gazprom Neft has reportedly said it will not reduce investment in its projects in Iraqi Kurdistan, despite a request from the Kurdistan Regional Government (KRG) to do so. Reuters reports that following a slump in oil prices, oil producers have been asked to reduce their investments, which governments often have to […]
By John Lee. The coronavirus pandemic has reportedly led to thousands of new jobs to truck drivers in the Kurdistan Region. According to a report from Rudaw, while the Ibrahim Khalil border crossing between Turkey and Iraqi Kurdistan has been closed to tourists and truckers alike, freight is being transferred to local truck drivers to […]
Newly trained women in Ninewa produce face masks to combat spread of COVID-19 in Iraq In January 2020, UNDP and Kurdistan Human Rights Watch (KHRW) collaborated to train sixty women on sewing and tailoring in Ninewa over the course of a ten-day workshop. At the time, these women could not have foreseen how their newly […]
By John Lee. IFC, a member of the World Bank Group, is investing over $26 million in a new 161-bed hospital in Erbil in the Kurdistan Region of Iraq. The facility will increase the availability of quality healthcare services and help address gaps in the country's healthcare infrastructure. The $92 million Seema Hospital project is […]
Gulf Keystone Petroleum (GKP) has issued providing an operational and corporate update: Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "In these challenging times, we remain focused on the safety of our people and have adapted our operations to ensure their continued welfare. With the associated economic backdrop compounded by a delay in payments, we […]
Genel Energy plc has updated its oil reserves and resources across its portfolio. Bill Higgs (pictured), Chief Executive of Genel, said: "Genel's producing assets are profitable even at an oil price of $30/bbl and this, coupled with our robust balance sheet, supports investment in growth and the payment of a material dividend. The reduction of […]
DNO ASA, the Norwegian oil and gas operator, today announced a 30 percent or USD 300 million reduction in its 2020 budget to shore up its balance sheet in the face of unprecedented market convulsions and plunging oil prices triggered by the coronavirus pandemic. Steps have already been taken to suspend most discretionary drilling and […]
