Gulf Oil and Gas accountACCOUNT

Iraq Bans Kurdish Firm Kar Group from Operating Kirkuk Oilfields

Source: Reuters 1/8/2018, Location: Middle East

Iraq’s parliament voted to ban Kurdish engineering firm Kar Group from operating Kirkuk’s oilfields, following Iraq’s recapture of the Kurdish-held oil region in October.

The Kurds have withdrawn from most Kirkuk oilfields since October but the vote came after lawmakers said the Kar Group refused to cooperate with Iraq’s state-run North Oil Co. (NOC) and hand back the Khurmala oilfield.

The Kurds claim Khurmala is located inside the official boundaries of the semi-autonomous Kurdish Regional Government KRG. Kar Group could not be immediately reached for comment.

Parliament also authorised NOC to take over production and export operations at the field. That will potentially increase Iraq’s oil production and crude exports, although it was unclear by how much.

In addition, parliament requested the Iraqi central bank to track down cash deposited at banks outside Iraq that had been generated from Kurdish oil exports. It asked the central bank to draft a detailed report on the names of banks used to deposit the cash.

Iraqi government forces captured the Kurdish-held oil city of Kirkuk on Oct. 16 last year, and took over the northern region’s oilfields, in retaliation for a Kurdish referendum on independence which was widely opposed by Turkey, Iran and Western powers.

The move to ban Kar Group follows financial restrictions imposed by Baghdad in retaliation for the Kurdish referendum, including a ban on direct international flights to and from the Kurdish region and closing the border crossings.

Kirkuk crude sales have been halted since Iraqi forces took back control of the fields in October.

Kar Group had been operating some of the Kirkuk oilfields since Kurdish forces took control of the city in 2014, when the Iraqi army collapsed in the face of Islamic State.

Oil & Gas Companies News in Iraq >>

Saudi Arabia >>  1/16/2019 - McDermott International, Inc.has been awarded a sizeable* contract from Daelim Saudi Arabia Company Ltd. for engineering, procurement and construction...
Saudi Arabia >>  1/15/2019 - L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro, in consortium with Subsea 7 has won yet another award for two projec...

Oman >>  1/14/2019 - Eni and the state company Oman Oil Company Exploration and Production (OOCEP) have entered into an Exploration and Production Sharing Agreement (EPSA)...
Saudi Arabia >>  1/7/2019 - TechnipFMC (FTI), in consortium with MMHE (Malaysia Marine and Heavy Engineering Sdn Bhd), has signed a Long-Term Offshore Agreement with Saudi Aramco...

Saudi Arabia >>  12/27/2018 - Lamprell has received a letter of intent ('LOI') from International Maritime Industries Company ('IMI'), the Saudi maritime joint venture in which Lam...
Saudi Arabia >>  12/27/2018 - In March 2018, Saudi Aramco participated in the Saudi-U.S. CEO Forum held in New York to promote bilateral business and cooperation between the two co...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Iraq Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Iraq >>

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.