Business | Oil & Gas
No deal on Kurdish contracts, says Iraq minister
Iraq's central government has not reached a deal with the Kurdish regional authorities to recognise contracts the Kurds signed with foreign oil companies, a senior Iraqi Oil Ministry official said on Wednesday.
Baghdad: Iraq's central government has not reached a deal with the Kurdish regional authorities to recognise contracts the Kurds signed with foreign oil companies, a senior Iraqi Oil Ministry official said on Wednesday.
"The Iraqi Oil Ministry considers the contracts signed by the Kurdish regional authorities as illegal and void," the senior official said.
Unconfirmed reports of such a deal had caused share prices in Norwegian oil firm DNO to soar.
The official said the Kurdish contracts remained the main stumbling block to agreeing a draft national oil law that will open up the country's energy sector to foreign investment.
Share this article
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
Shaikh Mohammad reaffirms UAE unity
Vice-President quashes talk of discord and reassures investors on the strength of Dubai's economy
-
Pizzazz on the palm: A Nikki Bisiker project
Bright, bold and ultra glam are the top notes of this apartment in The Palm Jumeirah's beautiful marina
-
flydubai starts service to Sudanese capital
Dubai's first low cost airline, celebrated its eighth inaugural flight in less than six months


