Failed Oil Policies Lead to New Opportunities in Iraq

By Zaid Al-Ali, for 1001 Iraqi Thoughts. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

20 Years of Failed Oil and Gas Policies Lead to New Opportunities in Iraq

Back in 2003, the Kurdistan Regional Government (KRG) adopted an independent oil policy that was based on weak foundations and self-serving foreign advice.

20 years later, that policy now appears to be unravelling.

The balance of forces has now firmly tilted in Baghdad's favour, and a series of court decisions have undone much of the KRG's position.

Most recently, an arbitral decision issued by the International Chamber of Commerce may very well prevent the KRG from exporting any significant quantities of oil without Baghdad's explicit approval.

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