Legal dispute beween the KRG and Baghdad could put all oil projects involving International Oil Companies at risk. A lack of legal clarity has been at the centre of this ongoing dispute since the fall of Hussein in 2003. The KRG’s huge oil and gas reserves are the ultimate oil frontier in Iraq, but a very risky one. Future of IOCs operating in northern Iraq hangs in the balance The long-running dispute over how oil flows are handled in the semi-autonomous region of Kurdistan in northern Iraq – administered by its government (the KRG, in Erbil) – and how the region is rewarded by the Federal Government of Iraq (FGI) in Baghdad for its co-operation in this regard has taken a series of dramatic legal twists in the past week or so. The outcome of these developments will have significant, and potentially catastrophic, implications for the exploration, development, and […]