Kurdistan-focused oil and gas companies are suffering, but hanging on
Times are tough in the Kurdistan Region of Iraq. The low oil price has added to the Kurdistan Regional Government's financial woes. As a result, Kurdistan-focused companies have suffered from a lack of payments from the KRG, and recent reserve downgrades along with low oil prices have increased the strain. Yet, we expect the Kurdistan-focused IOCs, with the possible exception of Gulf Keystone, to survive in the short-term. However, more will struggle if the climate doesn’t improve over the coming two to three years.