Iraq Oil Report

The Kurdistan Regional Government of Iraq announced Tuesday morning it has signed four additional production sharing contracts and deals for two new oil refineries.
Two of the PSCs have been named: one to Heritage Energy Middle East Ltd., a wholly owned subsidiary of the Canadian firm Heritage Oil & Gas; the other to Perenco Kurdistan Ltd., wholly owned subsidiary of private French firm Perenco S.A.
The other two PSCs will be announced soon, according to the KRG statement.
The Iraq Ministry of Oil has called nearly all of such contracts the KRG has signed illegal, continuing a bitter row between the central and regional governments which is likely to affect the federal oil legislation, the strength of Baghdad’s government and the future of Iraq.
Heritage and the KRG signed a joint-venture for a 20,000 barrels per day oil refinery.
The Taq Taq Operating Company, owned by Addax Petroleum and Genel Enerji, will pay for and build a second 20,000 bpd refinery.

More on this later today at the Iraq Oil Report.