On 13 October, at a meeting in London, Iraq’s oil minister, Hussein Shahristani, put eight oil and gas fields, representing about 40% of Iraq’s known oil reserves, up for grabs.
According to press reports, foreign oil companies were told they will be allowed to access up to 49% of each field; and, rather than receiving a flat fee for pumping the oil, they can bid for a share of the extra revenue they generate.
The oil ministry has reportedly said that contracts could run…