Major oil companies are trying to get long term contracts, says this Al-Jazeera report, for a share of Iraq oil fields that were developed years ago. Thus, there is little risk for them. The Iraqi government apparently says such contracts are illegal. But if that’s true, then who are the oil companies signing with?
It’s an attempted oil grab to be sure, aided and abetted by corruption within the country. The Kurds apparently have signed multiple contracts with multiple countries. Do they overlap? Which ones are valid, if any? Most important perhaps is who gets to determine which contracts are valid.
Tip: Juan Cole