Posts Tagged by Iraqi Kurdistan
Exxon Scouts Already in Erbil
| January 29, 2012 | Filled under Other News |
Despite objections from Baghdad, ExxonMobil already has personnel on the ground in Iraqi Kurdistan, according to Reuters. Whiel the company has kept silent on its exploration agreement with the Kurdistan Regional Government (KRG), one central government regards as illegal, one Western industry source in Erbil told the news agency: “They [Exxon] are definitely here and they are definitely assessing…
Genel announces its intention to increase the production of oil field in Kurdistan
| January 11, 2012 | Filled under Other News |
BAGHDAD – Babinaoz (Reuters) – Genel Energy Inc. said it plans to pump more oil by 2012 by expanding its oil installations in her field region of Iraqi Kurdistan. The company was founded last year after buying a private company chief executive, former BP. BP Tony Hayward Genel Energy, the Turkish company said it aimed to raise the production field…
Stocks of Oil Firms in Kurdistan Hit New Highs
| November 15, 2011 | Filled under Other News |
Investors from Dubai to London bought into oil and gas companies with exposure to Iraqi Kurdistan, sending share prices soaring on hopes of lucrative drilling contracts. UAE oil and gas companies with stakes in Kurdistan were given a further boost by financial results that revealed strong profit growth on the back of increased production in northern Iraq. The surge…
Iraq Turning into a Peaceful Democratic State
| September 26, 2011 | Filled under Other News |
New York, Iraq is striving to build a democratic State anchored in peace and the rule of law, with all communities living in harmony, irrespective of their sectarian, ethnic or factional affiliation, the country’s President, Jalal Talabani, told the General Assembly. “This is the basis for the path which we are moving on and continually implementing,” Talabani told the annual…
Lazy Iraqi NGOS at Risk From Tough New Law
| May 29, 2011 | Filled under Other News |
A new law in Iraqi Kurdistan hopes to separate worthwhile NGOs from those who simply provide an excuse for recreation and a venue for drinking tea. Once when young Kurdish men wanted to relax, to drink tea and to enjoy themselves in a clubhouse of their own, they would establish a non-governmental organization, or NGO. Once the organization was licensed, the…
Greater Profit In Transparent Oil Deals
| April 16, 2011 | Filled under All Dinar Trade Articles |
Ben Lando, a journalist and expert on Iraq’s oil and gas sector, says that Kurdish officials should give more details of this industry’s dealings to their citizens. He also attributes the reluctance of foreign oil companies to come to Iraqi Kurdistan to their fear of being consequently blacklisted by the Iraqi government. Lando is the head writer of the website Iraq…
Golden Era for Iraqi Kurdistan
| April 5, 2011 | Filled under All Dinar Trade Articles |
ERBIL, Iraqi Kurdistan: More than 23 tons of gold were brought into Iraqi Kurdistan last year through the regional capital’s airport alone, according to the government, and economics observers say this is an indication of the improving socioeconomic status of the people in the semiautonomous region. Bakir Aziz, head of the Directorate for the Control of Precious Metals and Gemstones…
Northern Iraq’s Budding Chinatown
| February 25, 2011 | Filled under All Dinar Trade Articles |
As foreign investment increases in Iraqi Kurdistan, cultural boundaries are being broken. While Ling Ling stacks hot and spicy prawn crackers and dried black beans with ginger onto the shelves of, to her, a familiar looking Chinese market, her wider surroundings of northern Iraq are more foreign. Ling, from Anhui province in eastern China, has been managing the shop there for…
IRAQ 2011 BUDGET PASSED ~ APPROVES $82.6 BILLION BUDGET FOR 2011
| February 21, 2011 | Filled under All Dinar Trade Articles |
* Iraq budget projects $13.4 billion deficit * OPEC producer looks to oil revenue to repair war damage By Suadad al-Salhy BAGHDAD, (Reuters) – Iraq’s parliament gave final approval on Sunday to an $82.6 billion budget for 2011 based on an average oil price of $76.50 per barrel and 2.2 million barrels per day in crude exports. The deficit was projected…
Rebuilding Iraq
| January 15, 2011 | Filled under All Dinar Trade Articles |
The news that the World Bank had agreed to insure an investment by a Turkish company in Baghdad was a long-awaited breakthrough in Iraq, a country which is recently best known for its political stalemate. The US$5 million guarantee will insure the Karo Dis Ticaret ve Sanayi’s investment in a factory 17km south-east of Iraq’s capital against expropriation, war and civil…
Estimates From Iraqi Oil Field Released
| August 14, 2010 | Filled under All Dinar Trade Articles |
The state-run Korea National Oil Corporation announced the results yesterday of its first oil discovery expedition at the Bazian field in northern Iraq. After 10 months of work drilling 3,847 meters (12,621.4 feet) into the earth from October 2009 to August this year, the KNOC estimated a maximum 970 barrels of crude oil and 3 million cubic meters of natural gas…
Gas surge fuels profits at Dana
| August 12, 2010 | Filled under All Dinar Trade Articles |
By Tamsin Carlisle – Dana Gas has swung to a second-quarter operating profit as it benefited from higher gas prices and increased production. Although the Sharjah company’s net earnings fell 92 per cent to Dh33 million (US$8.94m), its underlying profit for the quarter after one-off items was Dh47m, compared with a Dh15m loss for the second quarter of last year. Revenue…
Iraq’s North Rebounding as Tourist Destination
| August 6, 2010 | Filled under All Dinar Trade Articles |
By Rebecca Bundhun/ UAE– Iraq has been off the radar as a tourist destination for years, with the brutal regime of Saddam Hussein, the subsequent war and insurgency making it a no-go area. But there are hopes that in trying to rebuild its shattered economy, the country could pave the way for tourism to a destination that is as rich in…
In Erbil, the capital of Iraqi Kurdistan, minarets are now outnumbered two to one by cranes. New shopping malls, hotels and blocks of flats are being built at an extraordinary rate. On a recent visit I heard many people, from politicians to shopkeepers, making comparisons with Dubai in the aftermath of the Gulf war – by which they mean an oil-based economy preparing to diversify into a business and tourist destination.
Kurdistan is using large-scale retail therapy to deal with its grief at the genocides its people suffered under Saddam Hussein. At Silopi, on the Iraqi-Turkish border, we queued to have our passports stamped alongside car transporters loaded with shiny new Hummers, BMWs and Toyotas. The main road through the centre of the university city of Sulaymaniyah is a pristine eight lanes of brand new Tarmac, and here, even more than in Erbil, the skeletons of skyscrapers at various stages of completion dominate the skyline.
Of course, all this development is a good thing. Kurds who fled the genocides in the late 1980s are now returning from Germany and the US and bringing with them more cosmopolitan attitudes. Erbil’s wealthy suburb of Ainkawa boasts Chinese, Italian and German cuisine. On the streets of Sulaymaniyah schoolgirls and female students wear skirts that show a little leg; some even uncover their shoulders.
In Duhok, another university town further north, teenagers spend their evenings playing air hockey and paint-balling. People here do not celebrate the fall of Saddam’s regime – “it’s just not a big deal”, they tell me – but a two-nil win by FC Barcelona over Real Madrid is the cause of almost-fanatical street celebration that keeps everyone, myself included, up until three or four in the morning.
As in Dubai, urban planners are reclaiming…(more story)
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