Iraq aims to establish new oil company in Kurdistan region ...Kuwait

Iraq's federal government aims to establish a new oil company in the Kurdistan region, the oil ministry said on Saturday. The aim of the new company will be to enter into new service contracts with oil firms currently operating there under the Kurdistan Regional Government (KRG), according to a statement. Oil minister Ihsan Ismael said on May 7 that the ministry would start implementing a February federal court ruling that declared the legal foundations of the Kurdistan region's oil and gas sector unconstitutional. Iraq then wrote to international oil firms operating in the semi-autonomous region requesting they sign new contracts with state-owned marketer SOMO rather

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