Iraq to review some oil contracts at high-cost fields - Panorama Insurance Brokers

Iraq to review some oil contracts at high-cost fields

(Reuters) – Iraq is reviewing oil contracts with some companies operating fields where costs are high, in order to reduce expenses while cutting production, Al-Sabah newspaper quoted the country’s oil minister as saying.

“The ministry has a vision to open the door for negotiation with companies and has begun looking into some of these oil contracts, and the ministry is moving towards reviewing oil fields with high production costs,” Oil Minister Ihsan Abdul Jabbar told the newspaper in an interview published on Sunday.

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