The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
Russia's Gazprom Neft has commissioned a third production well at its Sarqala field in the Kurdistan Region of Iraq (KRI) Potential production at this new well is estimated at 12,000 barrels per day. Cumulative daily oil production at the field following the commissioning of the Sarqala-3 well has increased by 25 percent reaching 35,000 barrels. […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading up more than three percent on Thursday morning after the company proposed issuing $50-million in dividends this year. The company, which produces oil at the Shaikan field (pictured) in Iraqi Kurdistan, issued the following statement as part of its 2018 Full Year Results: Financial […]
By John Lee. Iraq's Communications and Media Commission (CMC) has reportedly ordered operators to block calls between their customers and Korek users in a dispute over number portability. According to Rudaw, the regulator told mobile network providers that Erbil-based Korek had failed to meet its “contractual obligations” to allow customers to keep their phone number […]
By John Lee. UK-based recruitment agency SSK Recruitment is reported to be looking to open an office in Erbil. Bdaily quotes Managing director Adam Smith as saying: “With all the uncertainty surrounding Brexit, we decided to focus on building relationships in the Middle East. "The margins are significantly higher in the Middle East than here […]
By John Lee. Shares in Genel Energy were trading down four percent on Wednesday morning after the company announced its audited results for the year ended 31 December 2018, in which it wrote down its Miran asset by $424 million. Despite this, Genel says it can now initiate "a material and sustainable dividend policy", with […]
By John Lee. A Turkish airline will start new services from Diyarbakir and Gaziantep to Erbil from 21st March. AnadoluJet, a subsidiary of Turkish Airlines, plans to offer three flights per week to each location. (Source: AnadoluJet)
Shares in Gulf Keystone Petroleum (GKP) were trading up 3 percent on Monday after the company provided an operational and corporate update on its operations in Iraqi Kurdistan. Analyst Peel Hunt has reportedly re-issued its "Buy" rating during the morning. Operational Operational activity continues at the Shaikan Field (pictured) to complete the debottlenecking programme in […]
By Dana Taib Menmy for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. In a bid to control armed violence and high crime rates, the Kurdistan Regional Government has given gun owners six months to register their arms and give up their heavy weapons. KRG […]
KRG Prime Minister Nechirvan Barzani received Jordanian Minister of Industry, Trade, and Supply Dr. Tariq al-Hammouri, Jordanian Ambassador to Iraq Montaser Oklah, Consul General of The Hashemite Kingdom of Jordan to the Kurdistan Region Haitham Abu Alfoul, and their accompanying delegation. Minister al-Hammouri highlighted historical relations between the Kurdistan Region and Jordan and expressed willingness […]
Pearl Petroleum Company Limited, the consortium led by Crescent Petroleum and Dana Gas of the UAE, has signed a new 20-year Gas Sales Agreement (GSA) with the Kurdistan Regional Government (KRG) to enable production and sales of an additional 250 MMscf/day that the consortium aims to produce by 2021 as part of their expansion plans […]
By Alexander Southworth, Iraq Britain Business Council (IBBC). Exploring Tech in Iraq: ‘Hackasuly – Promoting Tech Literacy for a New Generation of Iraqis’ “Education is the most powerful weapon which you can use to change the world”. In a country which has seen its fair share of weapon misuse over the last few decades Mandela’s […]
By John Lee. Genel Energy has announced that approval has been given by the Kurdistan Regional Government (KRG) regarding the acquisition of stakes from Chevron in the Sarta and Qara Dagh (pictured) blocks, in the Kurdistan Region of Iraq. According to a statement from the company, the acquisitions have now closed and Genel therefore has […]
