Iraq’s Kurdistan Regional Government (KRG) is to pay IOCs according to their Production Sharing Contracts (PSC) in a bid to boost investor confidence and cut expenses. The region’s economy is suffering as oil revenues tank and this is piling political pressure on the government. The 1 February announcement by the Ministry of Natural Resources (MNR) brings an end to the monthly payments of $75mn that began in September. The KRG will be hoping that the move will reduce expenses and...
KRG Revises IOC Payments Process As Internal Political Strains Grow
Published on Fri, 05 Feb 2016 - Volume: 59 Issue: 05Print
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