It’s a deal

Iraqi Oil Ministry announces an agreement has been reached for three remaining oil deals, all to be signed by end of January.

BAGHDAD - Iraq has reached a deal with the remaining foreign oil companies awarded development deals in a December auction that held out on the terms.

Sabah Shabeeb al-Sa'idi, chief of the legal department in the Iraqi Oil Ministry's Petroleum Contracts and Licensing Directorate, said a consortium led by the Chinese National Petroleum Corp. has agreed to the terms for Halfaya; Lukoil for West Qurna Phase 2; and Gazprom for Badra.

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