By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. What are the prospects of a permanent solution for governing relations between the Iraqi Kurdistan Regional Government (KRG) and the federal government in Baghdad? This is a question without an answer in […]
By John Lee. The Iraqi government has reportedly engaged the law firm Vinson and Elkins to target buyers of the crude oil which they say is being illegally exported from Iraqi Kurdistan. A anonymous Iraqi source told Reuters: “This is not a game. Anyone who buys this oil is doing something illegal ... We will target […]
By Denise Natali for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. As al-Qaeda continues to terrorize parts of Iraq, another battle looms over the country: control over Iraqi hydrocarbons and revenues. The Kurdistan Regional Government (KRG) is pressing ahead with its plans to […]
Kurdish ministers have reportedly walked out of a cabinet session in protest at the country’s draft 2014 budget. Reuters reports that the draft budget requires the Kurds to export 400,000 bpd, well above the region’s current export capacity, and says Baghdad will deduct any shortfall from the 17 percent share of state revenues to which […]
The tragedy of sectarian violence continues in Iraq, but the country still presses ahead with its development, and foreign companies continue to seize opportunities to contribute to the country’s growth and prosperity. This week in our newsletter, we have details of a Russian company's first oil output at an Iraqi oilfield, a Danish company exploring […]
The KRG Ministry of Natural Resources (MNR) gives public notice of the commencement of the sale of its first shipment of crude oil exported via Kurdistan Region’s new pipeline through Turkey to the Port of Ceyhan (pictured). MNR anticipates the sale of the first parcel of two million barrels of exported crude oil to occur […]
By John Lee. Turkish Energy Minister Taner Yildiz (pictured) said today that Kurdish oil has started flowing to the Turkish port of Ceyhan via the new pipeline, but it will not be shipped to world markets without agreement from Baghdad. According to Reuters, the Minister said he hopes a deal allowing exports to begin can […]
By John Lee. Iraqi Oil Minister Abdul Kareem Luaibi [Elaibi] (pictured) said on Saturday that he is optimistic Baghdad will soon come to an understanding with Turkey over a contested oil-export agreement with the Kurdistan Regional Government (KRG). According to a report from the Wall Street Journal, he said Turkey understands that it can't enter […]
By John Lee. The Deputy Prime Minister for Energy, Hussain al-Shahristani (pictured), has said that Iraq is keen to see oil shipped via pipeline from the Iraqi Kurdistan, but any exports must be approved by Baghdad. Turkey and the KRG signed a multi-billion-dollar energy deal last month, but Reuters reports that the Iraqi central government is […]
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Have Baghdad and Ankara agreed to resolve the Kurdish oil issue? Has Baghdad agreed with Erbil to settle the dispute that broke out after the latter concluded a contract to independently […]
By John Lee. Credit Suisse has upgraded Genel Energy as a result of what it described as “irreversible progress” towards achieving large scale oil exports via Turkey. Believing that the Iraqi Kurdistan oil play is now lower risk, analyst Thomas Adolff says that progress has been very impressive since 2011 and "we treat recent events - […]
By Mehmet Nayir for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Turkey’s energy diplomacy has borne results. The oil crisis was resolved when Baghdad was offered a measurement station and revenue payment guarantees. In this regard, a trilateral Baghdad-Ankara-Erbil mechanism will be set […]
