KRG hit with $100 million court order
Pearl Petroleum can now pursue fuel sales that went partially unpaid when it filed a multi-billion dollar arbitration claim over a larger contractual dispute.
An engineer looks out over gas processing facilities at the Khor Mor field, which is operated by the Emirati companies Crescent Petroleum and Dana Gas, in 2013. (JACOB RUSSELL/Iraq Oil Report/Metrography)
A British court has ordered the Kurdistan Regional Government (KRG) to pay gas consortium Pearl Petroleum $100 million for condensates and liquefied petroleum gas (LPG) produced at the Khor Mor gas field.
If the KRG doesn't settle up or apply to appeal within 21 days, the government, and potentially its senior officials, could be held liable.
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