Lukoil, Pakistan winners in underwhelming fourth bid round

Russian giant Lukoil and Iraq newcomer Pakistan Petroleum (PPC) won operator rights to explore two blocks expected to contain oil on the second and final day of Iraq's fourth contract licensing round.Thursday saw increased competition for the blocks offered – only one block was awarded Wednesday – but Lukoil was the biggest of major international oil companies to place a bid.The relatively low 25 percent award rate is being attributed to service contracts terms that are atypical, esp...