U.S. administration ban Oil contracts before Iraqi oil law:
U.S. administration banned the 6 major Western companies implementing no bid contracts signed with the Iraqi government for the oil fields located in the centre and south in violation of current laws and before passing the oil and gas law by Parliament. The ban also includes the implementation of 18 contracts signed by the Kurdistan Regional Government with oil companies for investment and exploration within the KRG administrative region and within the disputed areas in Kirkuk in addition to the contract to invest in a field located in Mosul. The ban was imposed after Prominent membes of the Democratic Party urged the U.S. administration to prevent the execution of these contracts considering them illegal. While Hussein Shahrastani said yesterday that the Ministry of Oil has decided to adhere to service contracts, not PSA . Earlier, the Iraqi Oil Ministry said it will announce on the thirtieth of this month the fields which will be involved in the contracts with Shell , Chevron, and other Western companies in addition to the granting of contracts to 40 foreign companies in short-term arrangements for oil extraction which was hoped to be signed next Monday. Meantime, the latest round of talks between Iraqi Prime Minister Nuri al-Maliki and President of the Kurdistan Regional Government failed to reach a settlement over the draft oil which has been stalled in parliament since early this year. The central government refused to accept the demand that the province takes the power to sign contracts and wants this to be the exclusive right of the central government.
