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Up for Grabs

Iraq's oil minister announced that 35 international oil companies can bid on long-term contracts for boosting production in six major oil fields. The U.S. Energy Information Administration estimates that the areas could hold up to 58 billion barrels of oil, or 50 percent of Iraq's total estimated reserves.


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Iraq Opens Oil Fields To Global Bidding
Article | BAGHDAD, June 30 -- Iraq's government invited foreign firms Monday to help boost the production of the country's major oil fields, beginning a global competition for access to the world's third-largest reserves.

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