Iraq Delays No-Bid Oil Contracts

nytimes.com — Iraq announced that it was opening six key oil production fields to more than 30 foreign companies, while delaying an announcement on a series of no-bid consulting contracts with a handful of Western oil companies. Iraq had been expected to issue its first contracts to foreign oil companies that would provide technical support and help raise Iraqi oil production ahead of awarding lucrative long-tern contracts.Those initial short-term contracts, with Exxon Mobil, Shell, Total, BP and Chevron, are still under negotiation, and will probably be completed in the next month. The reason for the delay was unclear.

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