IRAQ

Baghdad Postpones Fourth Bidding Round

Iraq’s Ministry of Oil has postponed the date for award for its fourth upstream bidding round from 7-8 March to 11 April, a foreign oil executive tells MEES. The round, Iraq’s first post-war upstream auction geared to exploration, has been a controversial one, introducing a number of unusual contractual clauses such as a right to postpone development of any oil discoveries for seven years and a proposed Infrastructure Fund for...