By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for April of 97,574,813 barrels, giving an average for the month of 3.252 million barrels per day (bpd), slightly less than the 3.259 bpd exported in March. Exports from the southern terminals totalled 96,900,433 barrels, with 674,380 barrels exported from Kirkuk. Revenues for the month were $4,612,815,000, […]
By John Lee. Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of $15.0 million ($12.0 million net to GKP) has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil export sales in January 2017. (Source: GKP)
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 46.15 million from the Kurdistan Regional Government (KRG) as payment towards January 2017 crude oil deliveries to the export market from the Tawke field. The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include USD 38.70 million toward […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for March of 101,031,675 barrels, giving an average for the month of 3.259 million barrels per day (bpd), slightly less than the 3.271 bpd exported in February. Exports from the southern terminals totalled 99,504,916 barrels, with 1,526,759 barrels exported from Kirkuk. Revenues for the […]
By John Lee. Iraq's Ministry of Oil announced exports of 91.6 million barrels for February, earning revenue of $4.5 billion. This equates to 3.271 million barrels per day (bpd), and an average oil price of $49.127 per barrel. The southern ports of Basra acconted for 90.8 million barrels, which brought in $4.46 billion, while Kirkuk […]
By Omar Sattarfor Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. On March 2, a military force affiliated with the Patriotic Union of Kurdistan (PUK) led by former President Jalal Talabani seized the North Oil Company in Kirkuk province. The military […]
By John Lee. DNO ASA, the operator of the Tawke field, and its partner Genel Energy, have announced that they have received a payment of $35.45 million from the Kurdistan Regional Government (KRG) as payment towards November 2016 crude oil deliveries to the export market from the Tawke field. The payment reflects full settlement of […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 8.41 million from the Kurdistan Regional Government as payment towards June 2016 crude oil deliveries to the export market from the Tawke field. The payment completes settlement of the total invoiced amount for June 2016 of USD 38.41 million, […]
Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of $15.0 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil export sales in October 2016. Gulf Keystone and the KRG's Ministry of Natural Resources ("MNR") continue to work towards agreeing the final form of the invoices for May to […]
By Ibrahim Malazada for Al Monitor. Any opinions here are those of the author, and do not necessarily reflect the views of Iraq Business News. On Dec. 14, the Kurdistan Regional Government (KRG) rejected the federal budget for 2017. The government’s statement read, “The budget does not serve the KRG,” and stressed its refusal to […]
By Padraig O'Hannelly. The Kurdistan Regional Government’s Minister of Natural Resources, Dr Ashti Hawrami (pictured), has defended the KRG's treatment of oil companies in the Region. This follows criticism by the head of Norwegian oil and gas operator DNO, which operates the Tawke block, at CWC Group’s Kurdistan-Iraq Oil & Gas Conference in London. Executive […]
By John Lee. According to a report from Reuters, commodities giant Glencore will likely fall short of its target of raising $550 million to pre-finance the purchase of Kurdish oil. Industry sources told the news agency that investors are exercising caution despite the 12 percent bond yield, and that Glencore has received investor commitments for […]
