Iraqi Law Would Open 'Fair' Bidding for Oil Development
Charleston Gazette › January 23, 2007
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Summary
BAGHDAD, Iraq - A new draft hydrocarbons law will pave the way for "transparent and fair" competition in bids to develop Iraq's oil wealth, the oil minister said Sunday as he sought to restore the confidence of foreign investors.
The new law, if approved, is expected to encourage foreign oil companies with their investment clout and technology to modernize Iraq's oil sector and meet the country's goal of doubling the current crude production of 2.5 million barrels per day by 2010.See the full content of this document
Extract
Iraqi Law Would Open 'Fair' Bidding for Oil Development
Iraq's proven oil reserves stand at about 115 billion barrels, the world's third largest after Saudi Arabia and Iran.
The oil minister, Hussain...See the full content of this document
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