Genel Energy has announced first oil production from the Sarta field (Genel 30% working interest), less than 21 months after the acquisition of the stake was completed. Production has begun at Sarta with first oil flowing from the Sarta-3 well into the Early Production Facility. The Sarta-2 workover operation is on track to be completed… Read More
Kurdistan News
Chinese Firm Wins $210m Construction Contract in Erbil
By John Lee. The China Machinery Engineering Corporation (CMEC) has announced that it been awarded the contract to build the Harir cement plant in Erbil. According to a stock exchange filing, the contract is valued at approximately $210 million, and the project is expected to be completed within 30 months. (Source: CMEC)
Management Buyout at Intellect Code
By John Lee. Erbil-based Intellect Code, which specialises in advertising, marketing and market research, has announced the acquisition of 100 percent of the company’s shares by Ahmed Gorani, who is the current CEO of the company. A statement from the company said that Mr Gorani bought the shareholdings of his partners Mohamed Emad and Waleed… Read More
GKP Shares Rise as Workover Completed
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading up 5 percent on Monday morning as the company announced that the planned workover on the SH-12 well has been completed safely. Jón Ferrier (pictured), Gulf Keystone’s Chief Executive Officer, said: “We continue to successfully manage the challenging macro backdrop and make operational progress…. Read More
Will Biden Avoid the Barzani Trap in Iraq?
By Michael Rubin, resident scholar at the American Enterprise Institute, for 1001 Iraqi Thoughts. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will Biden Avoid the Barzani Trap in Iraq? There has never been a U.S. president-elect more well-versed in Kurdish affairs than Joe… Read More
KRG to Prioritise Private Enterprise
By Padraig O’Hannelly. A major conference has heard that Iraqi Kurdistan will prioritise a shift towards private enterprise and a more efficient public sector. In his keynote speech to CWC/GFEn‘s Kurdistan Iraq Economic Forum (KIEF) conference, held online, Kurdistan’s Deputy Prime Minister, Qubad Talabani (pictured), said: “We must create an environment to let the private sector… Read More
More than 16,000 Ghost Workers removed in Kurdistan
By Padraig O’Hannelly. The Kurdistan Regional Government’s (KRG) biometric registration program is claimed to have removed more than 16,000 ‘ghost workers’ from the state’s payroll. Addressing the CWC/GFEn‘s Kurdistan Iraq Economic Forum (KIEF) online conference, Kurdistan’s Deputy Prime Minister, Qubad Talabani, said: “Building on phase one of our biometric registration program, where every wage-earner was enrolled,… Read More
KRG Opposes new Federal Budget Bill
By John Lee. The Kurdistan Regional Government (KRG) has expressed concerns and signaled its opposition to legislation put forward by the Iraqi parliament on Thursday that it says would once more cut the Kurdistan Region’s share of the federal budget. The Council of Ministers issued the following statement: “The Kurdistan Regional Government commends the Kurdistan… Read More
KRG DPM Talabani to Speak at Virtual Kurdistan Iraq Economic Forum
Kurdistan’s Deputy Prime Minister HE Qubad Talabani to Speak at the Virtual Kurdistan Iraq Economic Forum Inaugural Conference set to navigate the economic future Kurdistan and Iraq Conference will include online sessions available live and on demand for all attendees Delegates will gain insights into the latest policy and project announcements, crucial for successful investment… Read More
Barzani visits Europe seeking Trade and Investment
KRG Prime Minister Masrour Barzani on Monday headed to Europe to meet with senior European officials to discuss the benefits of increased trade with the Kurdistan Region and to strengthen diplomatic ties. The Prime Minister will lead a government delegation visiting several European countries as part of the Kurdistan Regional Government’s roadmap to diversify its… Read More