• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 5 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 20 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 9 hours Saudi Arabia turns to solar
  • 6 hours Why is permian oil "locked in" when refineries abound?
  • 2 hours Could Venezuela become a net oil importer?
  • 13 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 9 hours Teapots Cut U.S. Oil Shipments
  • 8 hours Oil prices going down
  • 9 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 1 day "The Gasoline Car Is a Car With a Future"
  • 1 day Sell out now or hold on?
  • 24 hours What If Canada Had Wind and Not Oilsands?
  • 22 hours U.S. Withdraws From U.N. Human Rights Council
  • 10 hours Putin Says 'Fierce' U.S. Politics Hindering Summit With Trump
  • 19 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
Editorial Dept

Editorial Dept

More Info

Trending Discussions

Iraq's Ongoing Oil Resources Power Struggle

Incident: The tit-for-tat conflict over Iraq’s oil resources continues with Iraqi Kurds suggesting they are in talks with “two to three major international companies” to develop oil resources claimed by the Iraqi central government. The Iraqi Kurds say they will announce the results of these talks in about a month.

Bottom Line: This is a direct response to Baghdad’s ongoing talks with BP Plc. over a deal to develop oil in the disputed territory of Kirkuk, claimed by both sides, and its warning to Exxon Mobil that if it continues to work with the Iraqi Kurds it will lose its contracts in southern Iraq.

Analysis: As we have noted in several reports on this urgent issue, the Iraqi Kurds are producing and exporting oil directly to Turkey in contravention of the Iraqi government in Baghdad. Baghdad considers these activities smuggling, but major oil companies have increasingly chosen to work unilaterally with the Kurds, who offer a more attractive investment environment. Last week, Baghdad revealed it was in talks with major BP for a deal to develop a block in Kirkuk, the main flashpoint in the disputed territories, where Iraqi military troops and Kurdish security forces are in a standoff, poised for armed conflict. Also last week, Baghdad once again threatened Exxon Mobil over its operations with the Kurds, but also hinted to the Kurds that a deal with Exxon might be underway that would convince the oil major to quit Northern Iraq in return…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News