Iraq oil minister insists strategy is on track

Iraq’s oil minister Hussein al-Shahristani on Tuesday defended his strategy for tapping the country’s vast energy reserves, insisting that output must increase before new fields can be explored.

Iraq is due next Monday or Tuesday to announce which of 31 foreign and state-owned bidders have won deals to operate six major oil fields and two gas fields, for which the government will pay fees rather than share profits.
AFP