Am I right in saying if and when WZR starts to produce its condensate discovery it will abide by local prices that are determined by the government?
In other words, oil price of Basrah crude being.... +/-2$/bbl would be a good indicator.
Or do IO juniors get to sell their portion of the oil at EU/US rates?? ie 70-90$/bbl...
Bit confused by a comment made by a colleague.