The latest news on Turkey – Iraq business – air Industry, infrastructure & more – brought to you by Iraq Business News
By John Lee. The Turkish Energy Minister Taner Yildiz (pictured) has denied buying crude oil from The Islamic State of Iraq and the Levant (ISIL), pointing out that Turkey is a state of law. According to a report from KUNA, the Minister strongly denied that Turkey's oil refineries processed crude oil coming from ISIL, saying […]
By John Lee. Russia's Gazprom Neft, the operator of the Badra oil field (pictured) in Iraq, has announced that first oil from the field is now being delivered to Iraq’s main pipeline system for transfer to the export terminal in Basra, on the Persian Gulf. Current deliveries from Badra to the pipeline stand at over […]
By John Lee. Turkish officials close to their country's energy policy have announced that a total of 8 million barrels of oil have been exported via the Turkish port of Ceyhan. According to officials, while some buyers have been deterred by legal threats from Baghdad, the number of buyers is in fact increasing. The Kurds […]
By John Lee. Gulf Keystone (pictured: CEO John Gerstenlauer) an independent oil and gas exploration, development and production company with operations in the Kurdistan Region of Iraq ("Kurdistan Region"), today announces its results for the six months ended 30 June 2014. Operational highlights · Gulf Keystone's operations in the Kurdistan Region remain secure and production […]
By Patrick M. Schmidt. In statements made to the Financial Times, Turkish officials have encouraged the United States to allow American businesses to import Kurdish oil. They argued that the United States should support the Kurdish Regional Government (KRG) economically as Islamic State of Iraq and the Levant (ISIL, ISIS) has been able to directly […]
The KRG's Ministry of Natural Resources has said it attaches the highest priority to the safety and security of all oil industry workers and their operations in the Kurdistan Region. MNR remains in constant contact with KRG security forces regarding the deterioration of security on the Region’s borders and it continues to share all relevant […]
By Patrick M Schmidt. Senior Officials in the Turkish ruling party announced that the country would do everything it could to ensure the security of the Kurdistan Regional Government (KRG). The announcement follows reports of Turkish fighter jets on patrol over the region. “As a strategic neighbor the stability and security of the Kurdistan Region […]
By Patrick M Schmidt. While Kurdish security forces battle Islamic State of Iraq and the Levant (ISIL) fighters on the ground, the Turkish Air Force has begun gathering intelligence on the militants’ movement from the air. Following a meeting between Turkish leadership, as many as eight jets were scrambled from Diyarbakir airbase. The Turkish leadership […]
By John Lee. Turkey's Economy Minister, Nihat Zeybekçi, has said the ongoing crisis in Iraq could result in a $3 billion decline in Turkish exports to Iraq by the end of the year. After the Islamic State of Iraq and the Levant (ISIS, ISIL )seized Mosul in June, exports from Turkey began to decline dramatically. […]
By Patrick M Schmidt. For over a week, the oil pipeline from Kurdistan to Turkish port facilities has been shut off. Government officials have stated that all the available storage tanks are full of Kurdish oil and remain in holding for when shipment continues. "The flow has stopped. It's been around a week. The tanks […]
In an interview wtih Al-Monitor's Mehmet Cetingulec, Turkey’s Minister of Economy Nihat Zeybekci said said the Islamic State (IS) is now contacting individual Turkish businessmen to call them back to Iraq: Al-Monitor: The Islamic State is blocking Turkey’s exports to southern Iraq. Are you doing anything to overcome this? Zeybekci: Of our exports, 70% is […]
By Omar al-Jaffal for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After the occupation of the Iraqi town of Mosul by armed groups, including the Islamic State (IS) and the Baath Party — banned by the Iraqi Constitution — prices of food increased significantly, a result […]
