Middle East Economic Survey


No 39


Kurds Suspend DNO Operations Amid Escalating Shares Scandal

The Kurdistan Regional Government (KRG) in northern Iraq on 21 September suspended all operations of Norwegian oil firm DNO with immediate effect for up to six weeks, amid an increasingly acrimonious furore surrounding the sale last October of a 175.5mn Norwegian krone (NOK $30mn) block of shares, amounting to 4.8% of the company, to an account owned by the KRG. KRG Oil Minister...