Iraq blacklists Chevron

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Chevron Reuters. The Chevron corporate logo is displayed at a Washington DC.

Iraq says it has blacklisted the US oil giant Chevron Corp. from signing future oil deals in the country's center and south after it secured an agreement with the northern Kurdish self-rule region in defiance of Baghdad.

On Thursday, the California-based company said it had taken over India's Reliance's 80 percent share to explore for oil in two blocks in the north. Chevron has no deals with Baghdad.

The Kurds have been at loggerheads with the Arab-led government over who has the final say in developing oil and gas resources. Baghdad wants to manage its energy resources nationwide, but the Kurds say the constitution does not require them to go through Baghdad.

Tuesday's Oil Ministry statement says Chevron can sign deals only when it terminates work with the Kurds. - Sapa-AP

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