Iraq threatens to bar RIL

Iraq on Thursday threatened to blacklist Reliance Industries (RIL) from future oil contracts after the company struck a deal with the Kurdish regional government for two blocks without Baghdad's approval.

"Our position is very clear. Any company that signs contracts with the Kurdish regional government without approval of the central government, they will compromise chances of getting future opportunities in Iraq," its Oil Minister Hussain Al-Shahristani said.
Hussain, who is here to attend the OPEC ministerial meeting ahead of the summit level talks among member countries, said that Baghdad had "conveyed this to all the companies that have recently signed production sharing contracts... That has also been conveyed to Reliance Industries."

Reliance Industries (RIL) had last week signed the contract for the blocks Rovi and Sarta in northern Iraq with the autonomous Kurdish Regional Government (KRG). The blocks, measuring 517 and 607 sq km respectively, have almost 80 per cent oil bearing structure.


Courtesy:timesofindia.indiatimes.com
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