Iraq’s Oil Ministry is getting ever closer to the first post-Iraq war oil deals…
…with the majors licking their chops at reentering since Iraq’s oil was nationalized in the 1970s. Plus: *Iraq and Europe to develop the gas sector *Rumormill: $$ for Iraq oil law votes? *Austria’s OMV joins SK Energy in having oil supply cut *Tet and the Iraq offensive Iraq's Oil Ministry, in talks with oil majors […]This comes as Baghdad is preparing a first round, though somewhat cloudy in details, of bidding and negotiated contracts to improve its struggling oil sector.
Oil Minister Hussain al-Shahristani told Argus Media on the sidelines of the OPEC meeting in Vienna that all deals would be fully transparent. Work would be carried out by Iraqi workers, he said. There are no legal controls, though, and without it and the re-establishment of the Iraqi National Oil Co. the country's oil sector is moving away from being nationally controlled.
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