Iraq: Iraq to Exclude Oil By-Products from Companies' Profit in New Contracts

Mar 29, 2018 | Reuters
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Iraq will exclude oil by-products such as liquefied petroleum gas and dry gas from foreign oil companies’ revenues in new contracts expected to be awarded in June, an oil ministry official said. The decision will effectively reduce the companies’ fees from production. Oil producers in Iraq currently receive a fee from the government linked to production increases, which includes crude and oil by-products.