Oil Policy

Iraqi Oil Minister Abdul Karim Luaibi (r) talks to reporters at the 159th meeting of the OPEC Conference in Vienna on June 8, 2011. Iraq's planned production increase and upcoming exploration blocks bidding round will challenge Saudi Arabia for primacy of the cartel. (JOE KLAMAR/AFP/Getty Images)

4th bid round delayed, Exxon still qualified

The fourth bidding round is now scheduled for May 30-31, as the model contract evolves and IOCs get time to respond.