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FINANCIAL NEWS
Total has no right to sign oil deals with Kurdistan: Iraq
13 Feb 2012
(MENAFN) Iraq’s Deputy Prime Minister for Energy, Hussain Al Shahristani, said that Total has no right to ink oil contracts with Iraq’s Kurdistan region without gaining the approval of the central government in Baghdad, reported Gulf News.
Al Shahristani added that in case the French comapny inked oil deals with the Kurdistan region without Baghdad’s approval, then the firm would tolerate the full consequences.
He also said that any such deal would have no standing with the Iraqi government.
It is worth noting that the central government of Iraq says that it has control over the country’s oil reserves, however, Kurdistan, which gained its semi-autonomous status in 1991, says it can ink oil deals for fields in its territory.
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