Pearl wins $2 billion ruling against KRG

Tankers carrying liquid condensates derived from natural gas leave the Khor Mor facility in Iraqi Kurdistan, January 2013. (JACOB RUSSELL/Metrography/Iraq Oil Report)

An arbitration court ruled the KRG owes the Pearl gas consortium nearly $2 billion for past production, but enforcement will be difficult and more legal battles loom, including KRG counter claims.

  • A worker checks the valve gears of pipes linked to oil tanks at Turkey's Mediterranean port of Ceyhan, which is run by state-owned pipeline company Botas. (UMIT BEKTAS/Reuters)

    Iraq budget moves toward passage

    Despite some spending cuts, MPs across the political spectrum criticize the budget for its unrealistic expectations, but also expect it to pass.

  • An engineer looks out over gas processing facilities at the Khor Mor field, which is operated by the Emirati companies Crescent Petroleum and Dana Gas, in 2013. (JACOB RUSSELL/Iraq Oil Report/Metrography)

    KRG hit with $100 million court order

    Pearl Petroleum can now pursue fuel sales that went partially unpaid when it filed a multi-billion dollar arbitration claim over a larger contractual dispute.

  • Q&A: PKK spokesperson Zagros Hiwa

    PKK spokesperson Zagros Hiwa stands in a cemetery of hundreds of PKK fighters in the Qandil mountains in Iraqi Kurdistan on Nov. 6, 2014. (DANIEL W. SMITH/Iraq Oil Report)

    The PKK does not intend to make further attacks on the pipeline carrying oil from Iraq to Turkey's Ceyhan port, though other Turkish infrastructure remains in the crosshairs.

  • Q&A: Oil Minister Adil Abd al-Mahdi

    Adil Abd al-Mahdi OPEC 6-2015

    On the sidelines of OPEC meetings, Abd al-Mahdi discusses Iraq's record exports, oil company payments, the relationship with Kurdistan, and new projects on the horizon.


More in Politics


More in Security

Absent government, fragile truce holds in Tuz Khurmatu

Peshmerga and Badr Brigades take positions against IS militants in Tuz Khurmatu on Oct. 30, 2014. Cleared of IS militants now, the two groups are part of a protracted power struggle for Tuz. (ALI MUKARREM GARIP/Anadolu Agency/Getty Images)

A deal negotiated between Shia militia and Kurdish Peshmerga leaders, brokered in part by an Iranian official, has for now tempered sectarian violence.