Iraq seeks plan B after auction

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Iraq said yesterday its state oil companies would manage and exploit two gasfields and possibly one oilfield that failed to attract acceptable bids from foreign companies in the country’s first post-war oil and gas licensing round.

Baghdad also rejected further offers it received after the close on Tuesday of a televised auction of service contracts for work on six of the country’s biggest oilfields and the two gasfields.

“The offers from the foreign companies were rejected by the government,” said Ali al Dabbagh, a government spokesman. “If they want the oilfields they have to match the prices offered by the ministry of oil.”