| Analysis | 5 December 2011 |
New stability and prospects for Kurdish oil and gas
By Friedbert Pflüger and Arash Duero
ExxonMobil has become the world's first major international oil company to venture into Iraqi Kurdistan. ExxonMobil's bold move may be seen as a validation of investor confidence in Iraqi Kurdistan's economic progress. It may even signify that the Kurdistan Regional Government (KRG) is inching closer to reaching an agreement with the central government in Baghdad on the long-standing dispute over the ownership and revenue sharing of the region's hydrocarbon resources. It is high time for European policymakers and businesses to start engaging themselves with Iraqi Kurdistan - as the US, Turkey, Japan and Korea are already doing.
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