No More Iraqi Oilfields for Foreign Companies: Prime Minister

Reuters reports Prime Minister Nuri al-Maliki as saying that there will be no further deals with foreign oil companies for the development of Iraq’s oilfields.

“I told the oil minister during a cabinet meeting that we will never sign any more contracts with foreign oil companies”, Maliki told supporters at a rally in the southern oil hub of Basra, weeks before a parliamentary election on March 7. “We will depend on our national companies in developing our oilfields.”

This will disappoint some companies that had accepted tough terms in previous bids, in the hope of getting more lucrative contracts once they had established a presence in the country.

(Source: Reuters)

One Response to No More Iraqi Oilfields for Foreign Companies: Prime Minister

  1. lonnie September 25, 2010 at 9:17 am #

    great oil contracts have been signed, now when does the rv of the money take place if Iraq is to as great as or greater than Sadia Arbia.