Iraq Says Reserves Right to Sue Over Oil Exports

Source: Reuters 1/10/2013, Location: Middle East

Iraq has the right to take legal action against oil companies which export crude without dealing with the central government, including confiscating cargoes and filing lawsuits against sellers, buyers and transporters, the state-run SOMO company said.

The statement made no reference to any company, but it was released after Genel Energy said Iraq's autonomous Kurdistan region had given permission for the company to deliver some crude directly by truck to Turkey.

Baghdad says only the central government has authority to export crude and sign oil deals. But Kurdistan has increasingly signed contracts with foreign oil majors as part of a broader dispute over contested oilfields.

For more information about related Opportunities and Key Players visit Iraq Projects


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