The Iraqi Oil Minister Hussein Al-Shahristani has said the country will likely drop oil service contracts with foreign companies if they don’t have their proposals finalized by a June deadline and will move forward with the work on its own.
“June is already a bit late… We may drop them if they aren’t signed soon ( […]

ENI’s chief executive Paolo Scaroni said he is “certain” the company will return to doing business in Iraq as soon as it is safe to do so, because it represents such an “opportunity”.
“What we know for sure is that Iraq produces 1.5 million barrels a day and it could be producing 5 million (a day),” […]

The Iraqi Prime Minister Nouri al-Maliki told the European Union yesterday that his nation is “open for business”.
Al-Maliki said that in return for opening its vast oil and gas reserves to investors, Iraq wants EU know-how to rebuild its tattered institutions and industrial base.

Iraq’s government and Kurdish officials will resume talks “soon” to finally try to iron out remaining disputes over the country’s controversial oil law.
Although officials have said drafts of the oil law have been submitted to parliament four times in the past year only to be rejected by the legislature’s oil and gas committee, according to […]

Iraq’s Oil Ministry has approved 35 companies it will allow to bid for soon-to-be announced tenders to develop oil and gas fields.
The largest oil companies in the world — ExxonMobil, Shell, BP, Conoco Phillips, Chevron — all qualified, as did firms of a variety of sizes and nationalities.
The announcement yesterday is a major move that […]