Kuwait Energy, the Bahrain-based independent oil and gas company, should enjoy higher cash flows in 2015 as production from its Iraqi gas project starts and capital expenditure on development is scaled back, Fitch Ratings said in a statement issued on…
Tag: Iraq
KRG tested by refugees, Baghdad budget squeeze and petrol shortage
The Kurdistan Regional Government (KRG), which is growing in status amid speculation that independence could result from the latest violent events in the rest of Iraq, is being tested by unprecedented economic challenges. At least 600,000 Syrian refugees and internally-displaced…
Baiji industrial complex too important for Baghdad to lose
The government of Iraq, working closely with US military advisers deployed this week at the request of embattled Iraqi Prime Minister Nouri al-Maliki, will act quickly to recapture the Baiji refinery and power complex, security specialists in Dubai have told…
The struggle for mastery of Iraq’s $20tn oil and gas reserves
According to the annual BP Statistical Review of World Energy published this month, Iraq has 150bn barrels of proven crude oil reserves. Its126.7tn standard cubic feet (scf) of natural gas reserves is the equivalent of a further 21bn barrels.…
KRG denies report of cut-price oil and says exports to double “within weeks”
The Ministry of Natural Resources of the Kurdistan Regional Government (KRG) today issued a statement denying a report that it is selling cut-price oil. It described a story by Bloomberg news agency on 19 June about KRG oil as being…
Iraq heading for digital banking revolution, MEED conference told
The Central Bank of Iraq is pressing ahead with a far-reaching programme of reforms that will help the banking industry play a far greater role in financing trade and investment in Iraq, the MEED Kurdistan Projects conference in Erbil was…
Iraqi Kurdistan ranks above most ME countries in peace, stability, politics, business and quality of life
A report by the UK’s Economist Intelligence Unit (EIU) ranks Iraqi Kurdistan above most Middle East nations in terms of peace, stability, the political and business environment, quality of life and human development, senior advisor to the prime minister of…
MEED Kurdistan Projects conference told Iraqi Kurdistan oil output ready for take-off
The long-awaited boom in Iraqi Kurdistan oil production has begun and will reach an initial climax at the end of 2015 when export capacity is forecast to hit 1m barrels a day (b/d), the MEED Kurdistan Projects conference was told…
Erbil Stock Exchange to open in third quarter and aims to list 10 by year-end, MEED meet told
The Erbil Stock Exchange, the first equities market in Iraqi Kurdistan, is due to open in the third quarter of 2014 and hopes to have 10-15 companies listed by the end of the year, Erbil Stock Exchange chairman Abdullah Abdulraheem…
MEED conference told that power demand in KRG region forecast to rise to 10GW in 2023
Rapid economic and population growth in Iraqi Kurdistan will lift annual peak power demand to 10,000MW in 2023 according to a new report completed for the Kurdistan Regional Government (KRG), the MEED Kurdistan Projects conference in Erbil was told this…