| 2008: Iraq sets oil majors contract ultimatum |
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April 23, 2008 Iraq may drop oil service deals with oil majors if they fail to sign the contracts by June, Iraqi Oil Minister Hussain Al-Shahristani said on Tuesday. Iraq is negotiating five short-term oilfield service contracts worth around $500 million each aimed at boosting its output by around a quarter. The Opec member had hoped to sign the contracts in March. "June is a bit late, if they are not ready by then we might not really require technical service contracts... we may drop them if they are not signed soon," he told reporters. |