Iraq faces obstacles to oil investment

To entice foreign companies to develop Iraq’s oil sector, the nation’s next government will not only have to tackle violence that has scared away investors, it will also have to determine who controls the country’s lucrative oil fields.

Despite the oil industry’s many problems – falling production, crumbling infrastructure and relentless insurgent attacks – the prize of the world’s second-largest proven reserves is so enticing that some foreign companies have taken the risk of investing.

Seattle Pi