What should Big Oil’s role in Iraq be?

There is no question that Baghdad needs the expertise and capital of international oil companies to kick-start its oil industry.

Thirty years of war, sanctions and poor government have left the country’s oil infrastructure in tatters.

Despite having the world’s third-largest proven oil reserves, Iraq’s production of 2.5 million barrels a day is only the 12th biggest. And although production has recently recovered to the levels seen before the 2003 US-led invasion, it is still about 1 million barrels a day below its peak in the late 1970s.

BBC