Iraq opts for long term oil deals, ditches no-bids

Iraq won't award temporary oilfield services contracts to international companies before a bidding round aimed at bringing in foreign expertise to boost crude production, Oil Minister Hussain al-Shahristani said, Bloomberg News reports. Iraq will instead go ahead with new long-term exploration contracts before approving a new energy law, he said. The country pre-qualified 35 U.S., European and Asian companies for a new exploration licensing round.

Reuters has more.