Word: iraq
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...Iraq is preparing to open its doors to foreign oil companies in a big way. Petroleum experts believe the war-torn country is underexplored and could potentially rival Saudi Arabia in oil reserves. And so the biggest names in the industry will put in bids for 20-year contracts on six of Iraq's largest oil fields and two of its largest gas fields, with the Iraqi Oil Ministry scheduled to announce the winning bidders on June 29 and 30. In the running are Exxon Mobil, Shell and BP as well as smaller Chinese, Russian and other state companies. Winners...
...Chinese National Petroleum Corp. Oil began to flow six months after CNPC began work on the Ahdad field, located 90 miles south of Baghdad in Wasit province. But it involved learning to work with locals - with the community relations continuing to be volatile. (See a video of Iraq's domestic oil supply problems...
...lives in nearby Alsabah village. "This is what disgusts me and my children." She and her neighbors say local investment and jobs were promised but not delivered and farmland was damaged by oilfield equipment and compensation was never provided. (See pictures of President Obama's visit to Iraq...
...state firm in charge, calls Wasit province "very quiet." But he wants the Iraqi government to "send additional security forces because this project is very important for the Iraqi people and all eyes fall on this project because there is a foreign company for the first time working inside Iraq...
...pictures of U.S. troops' 6 years in Iraq...