US Cautions Oil Firms On Kurdish Investments

Law360, New York (August 21, 2012, 6:36 PM EDT) -- The U.S. Department of State on Monday reminded U.S. oil companies of the legal risks of bypassing Iraq's central government when planning deals in the northern Kurdish region, a shortcut that has iced Exxon Mobil Corp. and Chevron Corp. out of the Halfaya oil field.

State Department spokeswoman Victoria Nuland said during a press briefing that while U.S. oil companies can decide to make investments in any region, they should be aware of the consequences they may be subject to in Iraq.

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