• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 9 mins Iran downs US drone. No military response . . Just Destroy their Economy Completely. Can Senator Kerry be tried for aiding enemy ?
  • 1 hour The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 3 hours Emissions Need To Be Halved To Avoid 3C Warming
  • 2 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 4 hours Coal Boom in Asia is Real and a Long Trend
  • 9 hours Summit in Pyongyang: China's Xi Says World Hopes North Korea-U.S. Talks Can Succeed
  • 19 hours Solar Panels at 26 cents per watt
  • 11 hours Pioneer CEO Said U.S. Oil Production would be up to 15 mm bbls/day NOW if we had the pipelines. Permian pipelines STARTING Q3
  • 5 hours Huge UK Gas Discovery
  • 1 day The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 1 day Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 1 day US to become net oil exporter in November: EIA
  • 22 hours US Shale Drilling lacks regulatory body.
  • 23 hours Ireland To Ban New Petrol And Diesel Vehicles From 2030
OPEC Aims For $60-$70 Oil

OPEC Aims For $60-$70 Oil

Equatorial Guinea’s Oil Minister Obiang…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Erbil-Baghdad Rivalry Colors All Oil and Gas Contracts, Iraqi MP Says

Oil installation

The Erbil-Baghdad rivalry will impact any future oil contract the Kurdistan Regional Government (KRG) signs with multinational fossil fuel companies, according to an Iraqi MP who spoke to Rudaw.

MP Arez Abdulla, who sits on Baghdad’s oil and gas committee, says the Iraqi government often pressures Kurdistan into making concessions that are unfavorable to Erbil.

“Due to the disputes between Erbil and Baghdad, the KRG sometimes goes along with conditions put forward by foreign oil firms, but if the issues are solved, the Kurdistan Region can much easier impose its conditions on the companies,” Abdulla said on Friday.

Baghdad’s policy towards oil companies that do not consult with the federal government before working with the KRG has long been direct blacklisting. In 2012, Iraq banned Chevron Corp. from pursuing new projects in the country after the U.S.-based firm signed a deal with Erbil, the capital of the semi-autonomous region of Kurdistan.

“If countries like Russia and the US have economic conditions in Kurdistan, they will indeed have a stronger presence in the Kurdistan Region and protect it,” the lawmaker said, referring to the KRG’s growing ambitions to become independent from Iraq.

Lately, Kurdistan seems to be stuck in a bit of legal trouble. A lawsuit by Dana Gas seeks $26.5 billion in reparations from the KRG for postponed oil and gas projects.

Related: OPEC’s Conundrum: Higher Prices Or Market Share

A November 2015 ruling by a U.K. arbitration court decided Dana and its partners the victors of a $2 billion settlement for delayed payments from Kurdistan. The delays have hurt corporate bottom lines and prevented timely repayment of sizeable energy sector loans, the consortium, named Pearl, argues.

The legal body also substantiated additional accusations of purposeful tampering with Pearl’s work on fields in Kurdistan, though damages have yet to be awarded.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Naomi on June 02 2017 said:
    President Trump is supplying tanks, artillery, helicopters, and other heavy weapons to the Kurds. Baghdad received the same supplies. Baghdad gave their supplies to ISIS and ran. Do not expect the Kurds to behave like Arabs. President Trump can depend upon Kurds to be loyal.

Leave a comment

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