Baghdad outlines plan for takeover of Kurdistan oil sector

KRG Prime Minister Masrour Barzani (proper) receives Iraqi Prime Minister Mustafa al-Kadhimi (left) in Erbil on September 10, 2020. (Picture credit score: Kurdistan Regional Authorities)

ERBIL/BAGHDAD – Iraq’s Oil Ministry is proposing the creation of a Kurdistan Nationwide Oil Firm underneath federal possession as a way of implementing a landmark court docket ruling that invalidated the authorized foundations of Kurdistan’s oil business.

In a letter dated March 24, signed by Oil Minister Ihsan Ismaael and confirmed as genuine by two Oil Ministry officers, the Oil Ministry additionally orders the KRG to provide copies of all oil and fuel contracts signed between the semi-autonomous area’s authorities and exterior events over the previous 18 years, in addition to statements of associated revenues.