Iraq launches historic oil and gas auction - guardian.co.uk

By
Viraj
on June 30, 2009 5:16 AM | | TrackBacks (0)
BAGHDAD, June 30 (Reuters) - Iraq will auction off eightgiant oil and gas fields on Tuesday in its first major tendersince 2003, giving oil firms a foothold in a country that mayhold some of the world's largest untapped energy reserves.

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Private jets flew representatives from leading global firmslike Exxon Mobil and Total into Baghdad, acity still ringed by blast walls and gripped by violence, toplace their bids for the 20-year development contracts. The companies are wading into a morass of controversysurrounding the deals, which some Iraqi lawmakers condemn asillegal and which even some within the state-run oil industryhave criticised for selling Iraq's vast oil wealth short.

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This page contains a single entry by Viraj published on June 30, 2009 5:16 AM.

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