Iraq's move to rush oil bidding could deter some firms

Iraq's move to rush oil bidding could deter some firms:

"Iraq is opening more of its untapped oil and gas resources to foreign developers, hoping to boost revenues after its costly war with the Islamic State group, but analysts say the rushed bidding process — now timed to precede national elections — could draw a lukewarm response.

Last month, Oil Minister Jabar Ali al-Luaibi unexpectedly moved the date to receive bids from late June to April, meaning the bidding would be held before May 12 national elections. Some believe Al-Luaibi, who is campaigning for a seat in parliament, moved up the date for political reasons.

Al-Luaibi hopes to represent the oil-rich southern province of Basra as a member of the Victory Alliance, which is led by Prime Minister Haider al-Abadi, who is running for re-election."



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