Russia’s Gazprom Neft rebuffs proposal from Iraqi Kurdistan to cut investments – ZAWYA

Russia’s Gazprom Neft rebuffs proposal from Iraqi Kurdistan to cut investments – ZAWYA

Russia's Gazprom Neft rebuffs proposal from Iraqi Kurdistan to cut investments. Gazprom Neft said the Iraqi Kurdistan government had asked oil producing companies, including Gazprom Neft Middle East, to reduce investments.. Following a slump in oil prices several countries have asked oil producers to cut investments, which governments often have to partially reimburse as part of their contractual arrangements.. Last week sources told Reuters that Iraq had asked all international oil companies to cut the budgets of developing oilfields by 30% as the fall in oil prices has hit government revenues..