Finance
Genel Energy eyes up Bina Bawi oil field stake
17/05/2012 11:02ERBIL, May 17 (AKnews) - Genel Energy is expanding its operations in the Kurdistan Region and is trying to buy a 23-percent stake in the Bina Bawi concession by acquiring A&T Petroleum for $175m (203bn IQD), said former BP chief executive and head of Genel Energy Tony Hayward.Genel produces 40,000 barrels per day (bpd) of Kurdish crude in...
First energy conference aims to develop energy sector in Kurdistan
16/05/2012 18:54ERBIL, May 16 (AKnews) - The first energy conference in Erbil aims to develop the Kurdistan Region's energy sector.The one-day conference is set to kick off on Sunday in Erbil’s Sad Abdullah Convention Hall.The conference is expected to be attended by representatives from dozens of foreign and local energy companies, among them 150 Turkish...
Gazprom set to pump oil from Badrah field early next year
16/05/2012 17:16WASIT, May 16 (AKnews) - Russia’s Gazprom Neft is expecting to export the first barrel of oil to the global market from the East Badrah oil field, Wasit province, early next year.The first export rate is expected to be 15,000 barrels per day (bpd).Project director for the Middle East at Gazprom Alexander V Kolomatsky said during a visit to...
Iraqi official praises Kurdistan investment experience
16/05/2012 12:40BAGHDAD, May 16 (AKnews)- The investment in Iraq is low comparing to what has been accomplished in the Kurdistan Region, said deputy governor of the Central Bank of Iraq. Mudhar Mohammed said "unfortunately, we, …. under the auspices of the federal government, are not good at investment process… and are not aware of its...
KRGs oil production could easily reach 300,000 barrels per day, says minister
14/05/2012 16:01
ERBIL, May 14 (AKnews) - The Kurdistan Region's Minister of Natural Resources Ashti Hawrami revealed with confidence that the region's oil production capacity could easily reach 300,000 barrels per day (bpd). In an interview with Iraq Oil Report Hawrami said annual income from that much oil and at today's prices could replace a lot of cash from...
Arab and foreign companies participate in Karbala economic conference
14/05/2012 15:25
ERBIL, May 14 (AKnews) - Nine Arab and foreign countries are participating in a two-day international economic conference in Karbala.The conference - which was opened by Iraq's Education Minister Ali al-Adeeb - was organized by the University of Karbala and is attended by many researchers, academics and experts.Over the two days the gathering...
UAE investment delegation to visit Kurdistan Region this week
14/05/2012 15:11
ERBIL, May 14 (AKnews) - An investment delegation from the UAE will visit the Kurdistan Region at the end of this week, said the chairman of Kurdistan's Chambers of Commerce and Industry.Dara Jalil Khayat said the 20-member delegation from Ajman, which includes officials, investors, university tutors and merchants, is set to visit the region...
Iraq and Iran form committees to boost trade
14/05/2012 10:08
ERBIL, May 14 (AKnews) - Iraq and Iran have agreed to form joint committees in the fields of air, land and sea transportation as part of efforts to boost trade relations between the two countries.Iraq's Transport Ministry said in a statement on its website that the formation of the committees came after a meeting between administrative agent for...
Northern Irish business delegation arrives in Erbil
14/05/2012 09:45ERBIL, May 14 (AKnews) - An 18-member delegation of Northern Irish business people arrived in Erbil yesterday, marking the first time that such a group has visited the Kurdistan Region.The delegation will stay three days in the Kurdistan Region and meet with Kurdish business people, investors and officials, said Dara Jalil Khayyat, head of...
Erbil to host construction and industrial exhibition next week
14/05/2012 09:32
ERBIL, May 14 (AKnews) - A construction and industrial exhibition will be held in Erbil from May 21 to 24 in the Sami Abdulrahman Park Exhibition Center.Director of the exhibition Latif Arf said 165 companies from 20 countries have confirmed their participation in the exhibition, including new members like Bulgaria, Australia and Sweden....