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Our Take: Iraq Impasse Tests Investors' Patience

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Supporters of Shiite cleric al-Sadr breach Baghdad's,Parliament,Iraq,Protests,Crowd

The explosion of unrest in Iraq in late August — triggered by powerful Shiite cleric Moqtada al-Sadr’s decision to quit politics — may not have affected oil exports but the reputational damage wrought by the country’s ongoing legislative deadlock is severe. Any expectations that oil and gas projects can move forward in the absence of a functional Iraqi government and federal budget since last year’s disputed parliamentary elections are wishful thinking on the part of investors. And even when the impasse is finally resolved, they could face a familiar foe in resource nationalism.

Topics:
Security Risk , Upstream Projects, Elections, Policy and Regulation, Majors, NOCs
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