Friday, October 20, 2017

Iraqi Oil Ministry Warns Foreign Companies against Contracts with Kurdistan

Iraqi Oil
Baghdad warned international companies that signing contracts without coordinating them with the authorities constituted "gross interference in Iraq's internal affairs, the violation of its national sovereignty and a clear violation of international norms," according to a Iraqi Oil Ministry announced in a statement.

​According to the statement, the ministry and the government have the right to apply to local or international courts for the protection of national interests, Sputnik reported.

The ministry stressed that contracts concluded with the Iraqi Kurdistan region's separatist administration rather than with federal authorities are illegal and the state is not obliged to comply with them.
 [farsnews.com]
 20/10/17
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Related:

  • Russian state-owned oil giant Rosneft says it has signed a production-sharing agreement with Iraq’s autonomous Kurdistan region worth up to $400 million.


The October 18 announcement comes at a time of high tensions in the oil-rich Kurdish region after officials there last month held an independence referendum that the federal government in Baghdad has refused to recognize.

Rosneft said it would pay up to $400 million for 80 percent in the production-sharing deals for five oil blocks, although half of the amount could come in the form of crude oil pumped from the facilities.

Rosneft said a "conservative" estimate put recoverable oil reserves in the five blocks at some 670 million barrels.
 [media.gr]
 19/10/17

1 comment:

  1. Iraqi security forces on Friday announced they had taken control of a Kurdish-held town in the northwestern part of the disputed province of Kirkuk; however, media outlets in the autonomous Kurdistan region have denied it.

    The statement comes two days after Iraq's Prime Minister Haidar al-Abadi announced the end of an operation to impose security and protect all people in the oil-rich Kirkuk city, which had been de facto administered by Kurdish authorities since they ousted the IS from the city in 2014.
    efe/epa

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