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Iraq’s Oil Ministry Prepares to Sign Oil Contracts

HeadlineDec 07, 2007

UPI is reporting Iraq’s oil ministry is preparing to sign deals for the country’s largest oil fields even though the Iraqi government has failed to pass an Iraq oil law. BP, Shell, Exxon Mobil, ConocoPhillips and other oil companies are all attempting to win contracts in Iraq. Executives from BP and Shell are expected to be meeting soon with Iraq’s oil minister. Under Iraqi law, the oil ministry can sign service contract deals on its own. But any production-sharing contracts would need parliamentary approval.

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