By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has appealed to the United States Congress for immediate action to help resolve halted crude oil exports from the Kurdistan Region of Iraq (KRI). The export halt, affecting over 400,000 barrels of oil per day, has lasted more than 10 months and is […]
By John Lee. UK-listed Genel Energy has said that it has cut all non-essential activity and significantly reduced spend, while developing a new source of income through domestic sales in the Kurdistan Region. Meanwhile, an arbitration hearing into the termination of the Miran and Bina Bawi production sharing contracts (PSCs) is scheduled to start in […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG to brief oil producers on talks with Baghdad The natural resources ministry of the Kurdistan Regional Government (KRG) has invited international oil companies working in the Region to meet on Wednesday to discuss […]
By John Lee. The Turkish Foreign Minister, Hakan Fidan, and the Deputy Prime Minister and Foreign Minister, Fuad Hussein, met in Ankara on Tuesday, accompanied by high-level security and military officials from both countries. Talks covered issues related to counterterrorism, security, and water resources, with both sides committing to continue developing relations. The meeting included […]
The International Finance Corporation (IFC), part of the World Bank Group, is supporting Sama Al-Manar and Manar FZCO, subsidiaries of Türkiye-based Tiryaki Agro, in developing a new state-of-the-art agro-industrial complex in Iraq's Umm Qasr Port, including a soybean crushing plant and warehouses, which will help bolster food security, create jobs, and diversify the country's economy […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading down around 5 percent on Wednesday afternoon following an update from the company. It said that local market demand remains difficult to predict, and while discussions are ongoing, there is still no official timeline for the reopening of the Iraq-Turkey Pipeline (ITP). Full statement […]
By John Lee. UK Export Finance (UKEF), the UK's export credit agency, has announced that it has secured £226 million [$285 million] in financing for the Iraqi government to develop over 350 kilometers of drainage infrastructure as well as 15 kilometers of stormwater and wastewater lifting stations near Hillah city. Upon completion, the project is […]
By John Lee. The United Nations Educational, Scientific and Cultural Organization (UNESCO) has awarded Turkish-based ARFADA YENİ TİCARİ EKONOMİK SOSYAL DANIŞMANLIK HİZMETLERİ LİMİTED ŞİRKETİ a contract for "Final External Project Evaluation of Reviving Mosul & Basra Old Cities projects (phases I &II)." The contract value is $36,250. According to UNGM: "The External Final Evaluation shall aims […]
By John Lee. On Sunday, senior officials from the Iraqi Federal Government in Baghdad met with KRG Prime Minister Masrour Barzani and his team to discuss the resumption of oil exports via the Iraqi-Turkish Pipeline (ITP) the Turkish port of Ceyhan. Deputy Prime Minister for Energy and Minister for Energy Affairs and Oil, Hayan Abdul-Ghani, […]
By John Lee. Canadian oil development and exploration company ShaMaran Petroleum has announced that it restarted operations at its Atrush field in Iraqi Kurdistan this week, selling oil to a local refinery via pipeline. In its statement for the nine months nine months ended 30th September, the company said it remains focused on cost control […]
By Ezgi Akin for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Turkey extends mandate for military operations in Syria, Iraq The Turkish parliament's extension of the mandate for another two years comes amid rising tensions between Turkey and the United […]
By John Lee. According to state-run Iraqi News Agency (INA), Iraq's Ambassador to Ankara announced yesterday (Thursday) that Turkey has agreed to resume oil exports via the Iraq Turkey Pipeline (ITP). It quotes Majid Al-Lajmawi as saying, "Turkish side agreed to immediately resume oil exports from the Iraqi-Turkish oil pipeline." This follows a statement to […]
