BAGHDAD - After weekend news that Prime Minister Nouri al-Maliki now supports Kurdish oil contracts, investors reacted with exuberance. But in the years-long dispute between Baghdad and the semi-autonomous Kurdistan region, political rhetoric and hopeful speculation have often out-paced real progress toward reconciliation.
Norwegian oil company DNO's shares jumped after Agence France-Presse (AFP) reported that Maliki has agreed to all of the semi-autonomous Kurdistan region's production sharing agreements (PSA) with foreign oil companies. But as politicians start to walk back Maliki's quote, and with few details emerging, it appears the deal is not done.
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