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To: Dennis Roth who wrote (169118)6/1/2012 7:57:56 AM
From: Dennis Roth1 Recommendation  Respond to of 206099
 
Iraq Fails to Entice Bidders for Most Oil, Gas Blocks
bloomberg.com

excerpts:

...Three of the 12 blocks were awarded, two for oil and one for gas. Russia’s OAO Lukoil and Inpex Corp. of Japan won a joint bid to explore for crude in southern Iraq, the head of the Oil Ministry’s licensing department, Abdul Mahdy Al-Ameedi, said in Baghdad today, the final day of the auction. Pakistan Petroleum Ltd. won rights to an eastern gas block, he said...

...“Expectations were low going into this as the terms were so fundamentally unsuitable, but I am slightly surprised by how bad the turnout was,” Samuel Ciszuk, a consultant at KBC Energy Economics in Walton-on-Thames, U.K., said yesterday...