Tensions Rise As Iraq Prepares To Usurp Kurdish Oil Contracts

Tensions are rising between Baghdad and Kurdish officials in the semi autonomous Kurdistan Regional Government in Northern Iraq as Iraq’s Oil Ministry prepares to take control of the Kurdish oil sector, including contracts with foreign companies.  On Saturday, the Iraqi Oil Ministry announced plans to create a new national oil corporation in the Kurdistan region of Iraq, Reuters reported, prompting Kurdish officials on Monday to call on Baghdad to refrain from any “unilateral decisions”, a KRG spokesman told S&P Global…