Iraq's Oil Ministry Denounces Kurdistan's Energy Agreements with U.S. Companies
(MENAFN) On Tuesday, Iraq's Oil Ministry rejected recent energy agreements between the Kurdistan Regional Government (KRG) and U.S. companies, deeming them a violation of Iraqi law.
In a statement, the ministry asserted that the deals, valued at billions of dollars, contravened decisions made by the Federal Supreme Court.
"The ministry affirms the invalidity of these contracts based on the Iraqi Constitution and the decisions of the Federal Court," the statement said.
While Iraq seeks to boost gas investments and meet rising domestic electricity needs, the ministry reiterated that oil and gas resources belong to all Iraqis and must be managed by the federal government.
KRG Prime Minister Masrour Barzani took to social media on Tuesday, announcing that "a new phase of Kurdistan-U.S. ties begins" with the signing of "two multi-billion dollar deals with HKN Energy and WesternZagros Resources."
The development underscores ongoing disputes between Baghdad and the semi-autonomous Kurdistan Region over control of the nation's energy resources.
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