Iraq has begun enforcing legislation that prevents foreigners from owning a majority stake in any Iraqi company, casting new uncertainty on an already difficult investment climate.
In his dual capacity as oil minister and INOC president, Ihsan Ismaael is moving key management authorities and oversight of state oil companies to the newly formed company.
Erbil has now received $138 million payments in both July and August, as a fragile political deal revives financial flows that had been stalled since October 2020.
The French president's second trip to Iraq in less than a year could potentially help push a massive energy deal across the finish line for TotalEnergies.
The former Peshmerga leader and PUK politburo member reflects on the priorities and crises facing the Kurdistan Region of Iraq.
Officials on both sides say a July financial transfer was a one-off deal, as political and technical disputes hold up further federal budget payments for Kurdistan.
Iraq’s oil chief discusses negotiations with Total and Chevron, arbitration with Exxon, the future of INOC, several gas project updates, and budget talks with the Kurdistan region.
Security forces in Sulaimaniya were mustered on behalf of respective party leaders as negotiations continue.
The budget transfer relieves some financial pressure on Erbil, though regular payments going forward are hardly assured.
Iraq's covid-19 infection rate has peaked for a third time, to a record high, putting dire pressure on an overloaded health care system.
