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Minister: Iraq Considers Increased Stake for Oil Companies

HeadlineMar 19, 2009

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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