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Thursday, 2 July 2009

Iraq rejects foreign oil deals

Iraq on Wednesday said it has rejected further offers from foreign companies to work in the country's oil and gas sector and pledged that some sites will instead be solely exploited by state-owned firms.

The cabinet made its decision after reviewing new offers from international bidders, government spokesman Ali al-Dabbagh told AFP, a day after being widely snubbed by energy companies unhappy about the terms on offer.

"The offers from the foreign companies were rejected by the government," Dabbagh said.

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