The Iraqi oil ministry has reportedly walked away from negotiations over the Ratawi gas hub after a former Petrofac executive pleaded guilty to charges of bribery. A report in Al-Rai newspaper said that the deal was struck between the two sides on Monday and would see the company pay $450 million for its stake in the project.
The Iraqi oil ministry has reportedly walked away from negotiations over the Ratawi gas hub after a former Petrofac executive pleaded guilty to charges of bribery. While the scandal was citied, there is no sign that the ministry is taking action against the company’s projects in the country, or that it has been placed on a formal blacklist according to a report on an Iraqi website.