Taking a chance in Kurdish Iraq
The KRG referendum result and subsequent Iraqi army offensive against the Kurds underline how risky it is for companies involved in the export and sale of Kurdish crude
The long-standing energy issues on which Erbil and Baghdad disagree essentially relate to the differing interpretations on the part of the Kurdish Regional Government (KRG) and the Federal Government of Iraq (FGI) over provisions of the Iraqi Constitution. In short, the KRG claims that it's entitled under the Constitution to enact its own oil and gas legislation, passing Law No 22 of 2007, the KRG Oil and Gas Law, under which the regional government granted itself powers to enter into production-sharing contracts (PSCs) with international oil companies (IOCs). The FGI asserts that the KRG Oil and Gas Law and the PSCs entered into by the KRG are unconstitutional and therefore invalid. The Bag
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
