Posted on 02 February 2012.
There has been a welcome outbreak of pragmatism in Iraq in recent days.
While the fact that ExxonMobil will apparently be allowed to take part in the auction for the fourth round oil licences was not entirely unexpected, some will see it as a climb down on the part of Baghdad.
Others, such as Hess Corp, which was barred in September as a result of its contracts in Iraqi Kurdistan, will be left in little doubt that some oil companies are more equal than others.
But this should not lead to any complacency, as tensions between the factions still remain high.
What this all means for the long-awaited hydrocarbon law remains to be seen.
Dr. Mark A. DeWeaver
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