ERBIL - The consortium managing the only producing natural gas field in Iraq's autonomous Kurdistan region is taking the Kurdistan Regional Government (KRG) to court, alleging overdue payments that are likely to total over $2 billion. The dispute threatens to send an uncharacteristically chilling signal to foreign companies that have generally lauded the KRG's Ministry of Natur
Read MoreNot since Jahangir Amuzeger’s study Managing the Oil Wealth: OPEC Windfalls and Pitfalls (2001) has there been an authoritative study of OPEC. This time Dr. Chalabi’s study is from inside the organisation and for the first time we get an opportunity to see the truth about the workings of OPEC as he sets about chronicling its history. From its beginning in 1960, when Standard oi
Read MoreStorm clouds threaten Iraq’s striking oil revival, By Guy Chazan When it comes to the world’s rising oil powers, none has risen quite as quickly – and with such profound implications for global crude markets – as Iraq. Ravaged by decades of war and sanctions, Iraq’s oil industry is making a remarkable recovery. Production has rebounded strongly thanks to big investments by wes
Read MoreDownload Prior to the 2003 regime change no private sector gas projects had been implemented in Iraq and gas prices were heavily subsidized, both nationally and in a regional context**. However, since 2007, two major gas projects have been signed, the first in Kurdistan by the Ministry of Natural Resources (MNR) and the second in Basra province by the Ministry of Oil (MoO). In
Read MoreDownload PDF 1-Introduction The Middle East is in a state of turbulence, politically as well as in terms of its position with regard to Energy, and Iraq would seem to be an apparent case of this turmoil. The Kurdistan Regional Government (KRG) has begun to export crude oil directly to world oil markets through Turkey. The KRG began exporting its own very light oil, or condens
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