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Iraq's no-bid contracts delayed

Sandy Young's picture
Posted July 1st, 2008 by Sandy Young

Yesterday, the widely anticipated announcement of the winners to Iraq's no-bid contracts was delayed. Today's New York Times reports that Iraq's oil minister, Hussain al-Shahristani made the announcement at a news conference in Baghdad. Click here to read the entire article.

Expectation was that Iraq would award the contracts to a handful of western oil companies. Instead Iraq invited foreign companies to bid for contracts to develop key oil production fields.

The Financial Times in London reports that:

Iraq's oil minister, specified conditions that illustrate the extreme political sensitivity of allowing western oil companies into Iraq, where many people believe the US-led invasion of 2003 was designed to seize control of the country's resources. Click here to read the entire article.

 

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