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March 19, 2009

Minister: Iraq Considers Increased Stake for Oil Companies
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The Iraqi government has hinted at further concessions for international
oil corporations operating in Iraq. On Wednesday, Iraq’s oil minister
told an OPEC gathering in Vienna that Iraq will consider granting
foreign companies a share in oil production profits, rather than the
current system of receiving fixed fees. Earlier this year, Iraq raised
the amount foreign companies can recoup from oil projects from 49
percent to 75 percent.



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