• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 4 hours One Last Warning For The U.S. Shale Patch
  • 9 hours Oil Slips Further From 2019 Highs On Trade Worries
  • 1 day Once Upon A Time... North Korea Abruptly Withdraws Staff From Liaison Office
  • 22 hours Modular Nuclear Reactors
  • 1 day Poll: Will Renewables Save the World?
  • 7 hours Climate change's fingerprints are on U.S. Midwest floods
  • 2 days Chile Tests Floating Solar Farm
  • 7 hours Telsa Sales in Europe
  • 7 hours 3 Pipes: EPIC 900K, CACTUS II 670K, GREY OAKS 800K
  • 8 hours Read: OPEC THREATENED TO KILL US SHALE
  • 4 hours The Political Debacle: Brexit delayed
  • 2 days China's Expansion: Italy Leads Europe Into China’s Embrace
  • 2 days New Rebate For EVs in Canada

Kurds Helping Baghdad Save Face Over Oil Independence Battle

Bottom Line: There is a great amount of confusion as to the recent steps the Iraqi Kurds have taken with Turkey towards oil and gas independence from the Iraqi central authorities in Baghdad. This story can be spun in different ways—but what appears to be the reality is that the Kurds are getting what they want, and helping Baghdad maintain its dignity from the losing side of this battle.

Recommendation: The Turkey-KRG energy deal is a done deal—despite the official, purposeful “confusion.” Baghdad cannot stop this momentum, and the Turks and the Kurds are keen to let Baghdad restore some of its lost dignity over the issue by affording it some sense of control, which is now the only way to resolve the crisis without a conflict.

Analysis: The big news last week was that the Kurds in the semi-autonomous Kurdistan Regional Government (KRG) finally signed a landmark energy agreement with Turkey. As usual, this announcement came with varying interpretations and predictably varying statements from officials in Ankara, Erbil and Baghdad. Some said no such agreement was actually signed; others that it was a done deal; still others that parts of the agreement have been signed off on while other parts have yet to be resolved. The deal—in whatever state it is in currently—will allow the KRG to independently export its crude oil directly to Iraq by the end of this year, via a new pipeline built for that purpose. The affirming and denying…




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