• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 3 hours China sends warplanes thru Taiwan airspace. Joe's reponse . . . .
  • 10 mins Biden suspends oil and gas drilling on Federal Lands for 60 days for review.
  • 2 hours Joe Biden's Presidency
  • 22 hours Navalny Poisoning Weakens Russo German Relations
  • 17 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 8 hours Minerals, Mining and Industrial Ecology
  • 22 hours Here it is, the actual Complaint filed by Dominion Voting Machines against Sydney Powell
  • 1 day Will Empire be brazen about stealing OIL from Venezuela?
  • 45 mins Biden's Green Energy Policy
  • 46 mins Jim Rickards: Brace for a Great Escape from the Dollar and a Flood of Money into Gold and Bitcoin
  • 2 hours 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers
  • 14 hours GENERAL NORMAN SCHWARZKOPF: The Third Tour
  • 2 days So Is COVID a Media Hoax or Not?
Oil Majors Are Eyeing A Suriname Offshore Boom

Oil Majors Are Eyeing A Suriname Offshore Boom

Suriname is quickly becoming a…

IHS Predicts A Record Year For Renewables In 2021

IHS Predicts A Record Year For Renewables In 2021

This year, renewable installations are…

How will Baghdad React as Gazprom Neft Sign New Oil Contracts with KRG?

Baghdad has long now claimed that only it has the authority to issue oil and gas contracts to energy companies that wish to work in Iraq, even going so far as to revoke existing licenses and refuse to do business with any who go against this.

Yet still the autonomous region of Kurdistan receives oil majors wishing to treat with just them when in pursuit of licenses to explore and drill in northern Iraq. Industry insiders say that this is because the Kurdistan Regional Government (KRG) offers more favourable production sharing agreements than the central government in Baghdad.

This has been highlighted by the recent announcement by Masoud Barzani, the president of the KRG, who told the news agency Interfax that Gazprom Neft, the oil division of the world largest energy company Gazprom, has just signed new oil production agreements.

Related article: Could Iraq Blow its Oil Opportunity?

This announcement is bound to aggravate Baghdad and put tension on the relationship between the two governments which had been experiencing a period of calm just recently.

Barzani stated that they “are satisfied with Gazprom Neft's work in the region. New agreements have been reached with this Russian company in recent days.”

Last August Gazprom Neft acquired its first two blocks in Kurdistan.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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