September 14, 2011Gulf Keystone confident of Iraq oil law resolution
LONDON, Kurdistan-focused oil firm Gulf Keystone is confident political differences between Iraq and the semi-autonomous region of Kurdistan over an oil law will be resolved by the end of the year.
"It is on the front-burner of business in Baghdad with the Parliament, and local authorities told us they expect it to be resolved by the year end," Chief Executive Todd Kozel said in an interview with Reuters on Wednesday.
Iraq's central government and oil-rich Kurdistan have been at loggerheads for years over legislation that would go a long way towards deciding control of Iraq's reserves.
Oil company confidence in Kurdistan has grown since May when producers began to receive payments for exports after months of haggling between the central and regional governments, suggesting relations between the two had improved.
"I'm so confident it's coming (resolution on the oil law), I don't even contemplate the other," Kozel said.
"Iraq needs oil. Iraq needs revenues to rebuild the country and the only way for them to get it is through oil export and production. It's in the best interests of all Iraqis to resolve the oil and gas law."
http://af.reuters.com/article/commoditiesNews/idAFWLA506720110914
Iraq's central government and oil-rich Kurdistan have been at loggerheads for years over legislation that would go a long way towards deciding control of Iraq's reserves.
Oil company confidence in Kurdistan has grown since May when producers began to receive payments for exports after months of haggling between the central and regional governments, suggesting relations between the two had improved.
"I'm so confident it's coming (resolution on the oil law), I don't even contemplate the other," Kozel said.
"Iraq needs oil. Iraq needs revenues to rebuild the country and the only way for them to get it is through oil export and production. It's in the best interests of all Iraqis to resolve the oil and gas law."
http://af.reuters.com/article/commoditiesNews/idAFWLA506720110914
