Iraq Delays 4th Energy Auction

Reuters reports on Wednesday that Iraq has delayed its 4th energy bidding round by more than a month.

Originally scheduled for 7-8 March, the auction for the 12 new gas and oil exploration blocks will now be held on 11-12 April.

Abdul-Mahdy al-Ameedi, director of the oil ministry's contracts and licensing directorate, told Reuters:

"We have decided to push back the bidding process in order to give companies more time to consider the final contract model and also in response to requests by many firms to postpone the auction."

(Source: Reuters)

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