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Iraq threatens to stop crude oil to South
Korea if they proceeds with an oil exploration in
Kurdistan
24.12.2007
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December
24, 2007
SEOUL, -- Iraq warned South Korea it could
suspend crude oil exports if a South Korean
consortium led by a state-run company proceeds with
an oil exploration project in autonomous Kurdistan
region, Yonhap news agency reported on Monday.
The Kurdistan regional government in early November
awarded the South Korean group exploration rights
for an oilfield in the Duhok region of Kurdistan
'northern Iraq'.
The group is led by state-run Korea National Oil
Corp (KNOC) and SK Energy (096770.KS: Quote,
Profile, Research), South Korea's biggest oil
refiner.
Iraq recently informed SK Energy by telephone it
could suspend oil exports to South Korea if the
company continues the project without the permission
of the Iraqi government,www.ekurd.net
Yonhap reported, citing
unnamed sources in South Korea's energy ministry and
energy industries.
South Korea's energy ministry was unable immediately
to confirm the report.
A Foreign Ministry spokesman said there had been a
meeting between government officials and energy
industry representatives on Monday but that the
results of that meeting were not yet available.
Iraq accounted for 5.2 percent of South Korea's
total crude oil imports for the first 10 months in
2007, according to Yonhap.
Reuters
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