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Parliamentary committee rejects deal struck between Rosneft, Erbil

Rosneft's investments in Kurdistan

The parliamentary oil and energy committee has expresses its strong rejection of the deal Rosneft, Russian oil company, signed with Kurdistan Region last month.
In an official statement, MP Ali Ma’arig, head of the committee, said that the deal struck between Rosneft and Erbil is illegal and illegitimate.  
The deal was signed following a decision issued by the parliament in September that limited the power of signing oil contracts and exporting oil to the federal government, he noted. 
The federal Oil Ministry is the only official and legal body authorized under the law and parliament’s recent decision to sign oil contracts and export oil, he further stated.
Ma’arij also called for rescinding the contract, adding that the contract is an infringement of Iraq’s sovereignty. 
On October 20, Rosneft agreed to take control of Kurdistan’s main oil pipeline, boosting its investment in the autonomous region to $3.5 billion. 
Rosneft’s investment has come amid a crisis in Kurdistan’s relations with the central government in Baghdad since the region held an independence referendum in September.

Last Modified: Wednesday، 15 November 2017 11:40 AM