The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
By John Lee. Shares in Genel Energy closed Thursday up more than 4 percent after the company issued the following trading and operations update in advance of the Company's full-year 2019 results, which are scheduled for release on 17 March 2020. The information contained herein has not been audited and may be subject to further […]
KRG cabinet discusses reform agenda and public-private partnerships KRG Prime Minister Masrour Barzani and Deputy Prime Minister Qubad Talabani on Wednesday chaired a meeting of the cabinet to discuss the Kurdistan Regional Government’s ambitious reform agenda and the implementation of public-private partnerships. Prime Minister Barzani welcomed the cabinet’s support for the government's reforms, which will […]
Genel Energy has announce an update on activity at the Taq Taq field (Genel 44% working interest), as testing of the TT-34 well is nearing completion. The well has produced from all zones tested, at a maximum combined flow rate of over 3,900 bopd with 28/64" choke. With the inclusion of test production, gross production […]
By John Lee. Chevron has reportedly removed all of its American oil workers from Iraqi Kurdistan as a security precaution, following the killing of Iranian Quds Force leader Qasem Soleimani and Iraqi militia commander Abu Mahdi al-Muhandis. The company currently has interests in the Sarta and Qara Dagh blocks. (Sources: Reuters, CNN)
By John Lee. Court filings in the United States have reportedly shed new light on corruption in Iraq. Louis Auge, of EU Reporter, writes that two members of Iraq’s Communications and Media Commission (CMC) recieved houses in London in return for their role in the expropriation of over $800 million from French telecom firm Orange […]
The first ever Leading Brands Iraq award ceremony was hosted at Rotana Hotel Erbil, Iraq. Popular brands of consumer goods in Iraq have received their awards in a ceremony attended by representatives of the Iraqi central government and the KRG, delegates of leading brands as well as academics and media. Kurdmax TV recorded the event […]
By Dana Taib Menmy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. What is the fate of Baghdad-Erbil’s oil-for-budget agreement amid ongoing protests? The Kurdistan Region of Iraq has vast proven oil and gas resources; however, mismanagement, corruption and ruling parties’ monopoly on power have brought […]
By John Lee. ShaMaran Petroleum has reported that the Atrush Field continues to perform "exceptionally well". Average production for the month of November was 43,360 bopd. The CK-15 well is now online and wells currently are undergoing normal-course maintenance. The Company reiterates its Atrush 2019 average daily production guidance of between 30,000 and 35,000 bopd […]
By John Lee. The Kurdistan Regional Government (KRG) has delayed payments to oil producers by several weeks. In statements to the markets on on Thursday, Genel Energy, Gulf Keystone Petroleum (GKP) and Shamaran Petroleum said that payments relating to invoices for oil production in August and September, which were due to be paid in November […]
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. Oil trail reveals Turkey funding Syrian Kurdish rivals At the Halifax Security Forum, an annual event attended by high-powered government officials, business titans and assorted other movers and shakers […]
KRG Prime Minister Masrour Barzani and Deputy Prime Minister Qubad Talabani has today chaired a cabinet meeting to discuss the draft Reform Bill, a central pillar of the Kurdistan Regional Government’s agenda. Developed as a joint initiative involving all parties in the government, the Reform Bill includes a series of measures designed to provide more […]
Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has produced its three-millionth tonne of oil since starting commercial production at the Sarqala field in the Kurdistan Region of Iraq (KRI). Total cumulative production at the Sarqala field has reached three million tonnes, or 23 million barrels of oil, as at December 2019. Daily liquid hydrocarbon production at this asset is currently running at 4,000 […]
