Iraq Opens First Round Of Oil Bidding Post-Hussein

Law360, New York (October 13, 2008, 12:00 AM EDT) -- Iraq's oil minister reportedly met with representatives from 34 oil companies in London on Monday to reveal the rules for the first round of bidding for oil contracts since Saddam Hussein was removed from power.

Monday's offer of 40 billion barrels of oil — which represents 40 percent of the Middle East's reserves — will fuel the argument that Hussein's ousting was a “war for oil” that opened the door for western energy giants to seize control of Iraq's oil reserves, The Guardian reported on Monday....
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