Big Oil Begins Bidding on Contracts In Iraq

June 30, 2009

Iraq (ChattahBox) – Oil executives from Russia, Britain, the US, and China were present today as bids opened for the vast oil fields in Iraq, in what is thought to be the most important economic step for the country in decades.

Among the winning bids was BP, who, after much protest, finally agreed to receiving $2 per barrel, a cut from their asked $3.99 a piece.

There are still five fields left for bidding, and each one will need to be authorized by both the oil minister, and Parliament before drilling can begin.


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