Iraqi Oil; More Risk Than Reward?
The Kurdistan region of Iraq has been considered the Holy Grail of oil exploration for around a decade now. Oil companies of all sizes have struggled to get their hands on acreage within the region, where oil literally seeps out of the sand. Until a few weeks ago oil production from the region was restricted, as oil could only be moved out of Kurdistan by truck, or sold into the domestic market at a significant discount to Brent. However, a newly…