‘Massive problems’ tracking Iraq oil

Iraq still has “massive problems” in monitoring its oil revenues, including no oil metering system to measure output and the failure to use competitive bidding for all contracts, an auditing board said after a meeting Wednesday.

Members of the International Advisory and Monitoring Board have “repeatedly raised” the issues with the U.S. Coalition and the Iraqi government, according to Jean-Pierre Halbwachs, the group’s U.N. representative, who spoke to reporters.

CNN