No-Bid Oil Contracts In Iraq For Select Companies
What a shock! Only American-chosen countries get contracts in Iraq, as we are advising the Iraq oil ministry.
A total of 46 companies, including the leading oil companies of China, India and Russia, had memorandums of understanding with the Oil Ministry, yet were not awarded contracts.
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The first oil contracts for the majors in Iraq are exceptional for the oil industry.
They include a provision that could allow the companies to reap large profits at today’s prices: the ministry and companies are negotiating payment in oil rather than cash.
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