In Baghdad, Chevron gets blacklisted by Iraq in regards to deals they made with Kurds over oil.
On Tuesday, The Oil Ministry states “Chevron can only sign deals when they do not work with the Kurds.” Kurds are known as the world’s largest ethnic population that doesn’t have a homeland of its own. They originated from Kurdistan, and moved throughout Turkey, Iran, Iraq, Syria, and Afghanistan.
Apparently, the Kurds have been with Arab-led Government for quite some time, though the governments have the final say in developing oil and gas resources. But the Kurds wants the constitution to require them to not go through Baghdad, even though Baghdad wants to manage its energy resources nationwide.
On Thursday, California’s-based company had taken over India’s Reliance’s 80% of their shares, when exploring oil on two blocks in the North.
Chevron has recently made the decision that they no longer will deal with Baghdad, due to their recent scams. In overall, the Oil and Gas Industry will work further in depth when participating bids, in the Middle East.
The amount per gallon located in Iraq, due to the Kurds large Investment.
“The second largest U.S. energy company Chevron Corp. will be barred from contracts in central and southern Iraq because the Californian company bought stakes in two oil-exploration blocks in the Kurdish region of Iraq.”
“Chevron is the second major western oil company to be banned by the central government in Baghdad from any future deals in the country's lucrative oil and gas sector, following Exxon Mobil Corp. last year.”
Sounds like a democracy to me! Maybe the smaller oil companies will get a chance to sign contracts with Iraq?