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Iraq 's economy is taking new action with its oil reserves[/size]
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one hour ago
Iraq 's economy is taking new action with its oil reserves[/size]
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one hour ago
Iraq will exclude secondary oil products such as liquefied petroleum gas and dry gas from the revenues of foreign oil companies in the new contracts expected to be awarded in June, which means reducing corporate fees from production, an Iraqi oil ministry official said on Thursday.
Iraq's oil producers are currently receiving government fees linked to increases in production including crude and by-products.
Iraq has called on foreign companies to compete for contracts to explore and develop oil reserves in 11 new areas as the OPEC member seeks to boost its production capacity.
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