[OilIsMastery]

http://www.reuters.com/article/marketsN ... 809?rpc=44

$this->bbcode_second_pass_quote('', 'M')OSCOW (Reuters) - Iraq hopes to call an open race as early as September for its prized oilfields, its oil minister said on Thursday after talks in Moscow dashed Russian hopes of getting a slice of oil reserves on preferential terms.

Hussain al-Shahristani told Reuters he hoped parliament would pass the key new oil legislation after the holidays, opening the way for tenders for specific fields.

"We have been informed that they will come back to work in the first week of September and pass the law by the end of September," he said.

"There will be no specific talks with any company over any particular field. What will happen is that Iraq will announce the development of certain fields and all qualified oil companies can come and compete."

He also said that all 27 producing fields in Iraq will be transferred to the national oil company, which will be free to decide whether it wants to have partners or not.

The 27 fields include West Qurna, he said.

[OilIsMastery]

http://www.bloomberg.com/apps/news?pid= ... jwn7IqTlHQ

$this->bbcode_second_pass_quote('', 'A') pullout from Iraq may be the event that pushes oil to $100 a barrel, according to Boone Pickens, the Dallas hedge fund manager who has joined Forbes Magazine's list of billionaires because of his bullish bets on energy prices.