Iraq Oil Forum

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Iraq Watch

It took just hours for Iraq's first bid round to produce a sole winner -- BP and China's CNPC for Rumaila -- and seven rejects. Big Oil and top national oil companies walked away from the auction block empty handed and frustrated by Iraq's insistence on paying them as little as $1.90 per barrel for their cutting edge technology and expertise. Baghdad saw BP/CNPC's promise of a massive production increase at $2/bbl as a triumph. The award of Rumaila alone had allowed Iraq to more than meet the aim of the first bid round without giving away the country's oil on the cheap. And now Iraqi technocrats are pushing ahead with a second bid round, which features 10 discovered, but undeveloped oil fields -- including the treasured Majnoon, West Qurna-2, East Baghdad and Halfaya. A road show in August in Istanbul is being planned. But bidders from round one want closure. The coming weeks are expected to see an Iraqi panel of experts reviewing... read more

Articles of Interest

Bidders Balk At Iraq's Service Fee Demands

Petroleum Intelligence Weekly (Monday, July 6, 2009)

Iraq to Speed Up Second Bid Round

International Oil Daily (Thursday, July 2, 2009)

BP Rescues Iraq Bid Round From Failure

International Oil Daily (Wednesday, July 1, 2009)

Iraq Gets Ready For Big Oil Gamble

Petroleum Intelligence Weekly (Monday, June 29, 2009)

Iraqi Oil Minister Seeks to Allay Concerns on Eve of Bid Round

Oil Daily (Friday, June 26, 2009)

The Iraq Oil Debate

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Current Discussion Topics

Does the Shell deal offer Iraq the best option for exploiting flared and southern gas in general?

Do the bidding parameters and criteria ensure fair competition in the petroleum licensing round?

Does it make sense to launch a second licensing round so soon after the first one?