A South Korean consortium has won a major oil development project in Iraq's Kurdish region
A South Korean consortium has won a major oil development project in Iraq's Kurdish region.
The news came after the Iraqi federal government halted oil supplies last month to South Korea's top refiner, SK Energy, because of "illegal oil exploration deals" with Kurdish officials.
The consortium, led by state-run Korea National Oil Corp (KNOC) and Samsung Corp (000830.KS: Quote, Profile, Research), is expected to sign a deal with the Kurdistan regional government on Thursday, it said.
Baghdad insists that all oil deals in Iraq must be approved by the central government.