Business Week: Iraq’s historic auction on June 30 of contracts to develop major oil fields has not gone according to plan. So far, only BP (BP) and Chinese partner CNPC have struck a deal on Rumaila, Iraq’s most important field. Seven other oil and gas fields went begging as the world’s biggest oil companies shied away from tough Iraqi terms and political and business risks. “This is very, very disappointing for the Iraqis,” says Samuel Ciszuk, an analyst at IHS Global Insight (IHS) in London.
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