Central control enshrined in 4th bid round contract

The contracts offered in this week's exploration block auction will bind companies to recognize Baghdad as Iraq's sole oil authority and prevent them from signing deals with Iraq's Kurdistan Regional Government (KRG).Two new clauses, one each inserted into the two contractual documents in the fourth licensing round, to be held May 30-31 at the Oil Ministry in Baghdad, give the ministry legal weight to cancel deals if the signatory then signs an oil deal with either the KRG or another local g...