Middle East Economic Survey

VOL. LII

No 43

26-Oct-2009

Baghdad Bidding Rounds Threaten World Oil Order

Baghdad will make awards for the over 35bn barrels  of oil reserves on offer in its second upstream bidding round on 11-12 December, Iraq’s Ministry of Oil announced at an Istanbul road show. Together with fields awarded or under negotiation from its first round, Iraq appears poised to launch a capacity push to 10mn b/d and beyond. This 10mn b/d+ scenario, if realized, could...