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Iraq mulls asking aggressive bidders to rebid

Vienna, September 10, 2009

Iraq is considering inviting the most aggressive bidders to rebid for some of its giant oilfields after it failed to award deals at an auction in June, the country's oil minister has said.

'The two or three companies who made the best offers will be invited to another round -- that is one option. I cannot say if we can make a decision by the end of this month but we have to make a decision soon,' Hussain al-Shahristani said.

A BP-led consortium was the only foreign group to strike a deal in the June auction, which was the first since the US-led invasion in March 2003.

The minister was speaking ahead of an OPEC meeting in Vienna. – Reuters




Tags: Oil | Iraq | Vienna | Auction | Bidders | Rebid |

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