The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
Genel Energy plc has announced that it has received an override payment of $7.05 million from the Kurdistan Regional Government (KRG). The payment represents 4.5% of Tawke gross field revenues for the month of November 2017, as per the terms of the Receivable Settlement Agreement. Taken together with the monthly entitlement payments for Taq Taq […]
By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Future Forward Project Manager, Heartland Alliance for Human Needs Project Officer (Communications with Communities), IOM - International Organization for Migration A Deputy Head of Mission, Première Urgence Internationale (PUI) A Deputy Health Coordinator in Erbil, Première Urgence Internationale (PUI) MEAL Coordinator, Première […]
By John Lee. Genel Energy has announced the completion of competent person's reports ('CPRs') relating to the oil reserves and resources at Taq Taq, Bina Bawi, and Miran. McDaniel and Associates have updated the CPR relating to the Taq Taq field (Genel 44% working interest, joint operator). RPS Energy Consultants Ltd. ('RPS'), as part of […]
By John Lee. Erbil’s mayor has reportedly warned hotel and motel operators against taking advantage of the increased numbers of tourists by driving up prices and breaking contracts: Nabaz Abdulhamid told Rudaw: “Any hotel or motel owner that hikes up the prices and revokes the signed contracts will be punished severely.” In the past three […]
A spokesperson for the Ministry of Transportation in the Kurdistan Region reiterated that the Ministry has not received any formal approval from Iraqi PM Haider al-Abadi to lift the ban on international flights from the airports in the region. Asked whether Baghdad was trying to delay resolving the issue with Erbil, Omed Mohammed said that […]
By John Lee. Iraq's Oil Ministry has announced that it has signed an agreement to build a 70,000-bpd oil refinery near Kirkuk. The statement said the refinery would be built by "Rania international company", which Reuters refers to as Ranya International, which it says is based in Iraqi Kurdistan. The plant will produce high octane […]
DNO ASA, the Norwegian oil and gas operator, today announced a 50 percent hike in 2018 spending in the Kurdistan region of Iraq to USD 250 million net to the Company on the back of higher revenues and regular export payments. Annual 2017 revenues stood at USD 347 million, up 72 percent from 2016, bolstered […]
The International Federation of Journalists (IFJ) has denounced the multiple media freedom violations in the Iraqi Kurdistan region documented in a new report by IFJ affiliate the Kurdistan Journalists Syndicate. The 2017 annual report of media freedom violations, published by the KJS’ Committee for the Defense of Press Freedom & Rights of Journalists, reveals that […]
By John Lee. Iraq’s Communications and Media Commission (CMC) has reportedly ordered several Kurdish communication companies to stop providing landline services. According to a report from Rudaw, the CMC ordered that all companies licensed by them should cut communications with companies that are not licensed, including Fast Link, Newroz, Link Tech, Wego/7net-layer, Nawant, Kurdtel, Tishknet […]
By John Lee. Nearly 1 million acres (400,000 hectares) of land in the Kurdistan Region have reportedly been rendered barren due to drought. Faruq Ali, Director of Crop Production at the Ministry of Agriculture and Water resources, told Rudaw: “Due to the lack of rainfall during this year’s plantation season, I predict that nearly 60 […]
Genel Energy has issued a trading and operations update in advance of the Company's full-year 2017 results, which are scheduled for release on 22 March 2018. The information contained herein has not been audited and may be subject to further review. Murat Özgül, Chief Executive of Genel, said: "A strong final quarter of 2017 completed […]
Genel Energy has announce that it has agreed with the Kurdistan Regional Government (KRG) a 12 month extension to the schedule for satisfying the conditions precedent ('CPs') contained within the Gas Lifting Agreements ('GLA's) for the Bina Bawi and Miran fields signed in February 2017. The revised date by which the CPs are to be […]
