Media reports from Seoul say a Korea National Oil Corp.-led consortium has signed oil contracts with Iraq's Kurdistan Regional Government. The contracts were not verified by the KRG, which typically issues announcements when oil contracts are signed, Ben Lando reports for United Press International. It has signed more than 20 production-sharing contracts since 2004, despite [...]

Mr. President, said Sen. Carl Levin, D-Mich., I am deeply concerned by the apparent lack of a clear and consistent U.S. policy on the entering into of oil deals in Iraq in the absence of Iraqi national hydrocarbon legislation. Unfortunately, that legislation, which would ensure equitable distribution of oil revenues among the Iraqi people and [...]