Chevron, Reliance Sign Kurdistan Oil Deal
From Wall Street Journal
Chevron Corp. has signed a preliminary deal with Indian conglomerate Reliance Industries Ltd. that would see the U.S. company take stakes in two oil exploration blocks in the Kurdish region of Iraq, two people familiar with the matter said Thursday.
Such a deal would make Chevron the second major western oil company to enter the Kurdish region, following Exxon Mobil Corp. last year. Chevron”s move boosts the position of the Kurdish Regional Government, which has long fought with the Iraqi central government over who has the right to grant oil exploration rights to foreign companies.