As the government of Iraqi Kurdistan reiterates that the oil deals it has signed with foreign companies this year are legal and says most of the returns would be shared with the rest of Iraq, the New York Times wades into the debate with an interesting Op-Ed. The Times says: “The quickening pace of oil … Read More
Iraq Oil Law
Iraqi Kurds Sign Four New Oil Deals
The Kurdish regional government in northern Iraq has announced four new oil exploration deals with international energy companies. The news is likely to upset the central government in Baghdad and the US. Both have been pressing the Kurds to hold off negotiations until Iraq’s controversial Oil Law is passed, but it seems the Kurds are … Read More
Kurd Oil Deals Condemned
And so the debate about Iraq’s oil wrangles on. The New York Times reports that a senior US State Department official in Baghdad has said the first American oil contract in Iraq – that of the Hunt Oil Company of Dallas with the Kurdistan Regional Government, was at “cross purposes” with the stated United States … Read More
Iraqi Oil Law “Passed by End of the Year”
Iraq’s parliament will re-start negotiations next month on the country’s controversial oil law, according to Khaled al-Attiya, the deputy speaker. Attiya said the parliament would take its time to discuss the draft oil law, but he expected it to pass before the end of the year. Attiya, a senior member in the ruling Shi’ite Alliance, … Read More
Iraqi Kurds Demand Oil Minister’s Resignation
The increasingly bittter issue of who controls Iraq’s oil shows no sign of abating. The Kurdistan Regional Government has now demanded Baghdad’s oil minister be sacked, following his remarks that oil contracts signed by the regional government are “illegal” Oil Minister Hussein al-Shahristani should quit rather than “interfere in the internal affairs” of the Kurdish … Read More
Iraq: Kurd Oil Deal “Illegal”
Just days after American company Hunt Oil agreed a deal to explore in the Kurdistan region of Iraq, the deal has run into trouble. At the weekend, the Dallas oil company, with its close White House ties, became the largest U.S. energy company to explore for oil in Iraq since the war began. But the … Read More
Iraq: Major Hurdles to Pass Oil Law
Iraq’s parliament must overcome major disagreements before it can pass Iraq’s controversial oil law, Iraqi officials have admitted. Abdul-Hadi al-Hasani, deputy head of Iraq’s parliamentary energy committee, said the new rules would pass before the end of the year — but only after significant amendments to the draft Baghdad approved in July after months of … Read More
Lack of Iraqi Oil Law “Keeps Investors Away”
Iraqi government officials have presented detailed plans for exploiting the country’s vast oil reserves at the “Iraq Oil, Gas, Petrochemicals and Electricity Summit” held in Dubai. But they have admitted that the absence of the controversial oil law regulating the industry is a bigger obstacle than security to attracting foreign investment.