Iraqi Cabinet approves BP-led consortium offer to develop Rumaila oil field

BAGHDAD — Iraq’s government on Wednesday approved a BP-led consortium’s offer to develop a giant oil field in the south, moving forward with the only deal struck during a much-hyped but ultimately disappointing international oil auction.

Iraq’s long-awaited oil bidding round fizzles as only 1 field awarded

BAGHDAD — The first international bidding process in more than 30 years for development rights to some of Iraq’s oil fields has finished, with only one field being awarded.

Iraqi oil licensing round runs into trouble as foreign firms eye bigger cash rewards

BAGHDAD — Iraq’s hopes for an oil-revenue fueled postwar recovery suffered a sharp blow Tuesday as the foreign oil companies it counted on to help develop its vast reserves greeted the country’s first oil auction in over 30 years with grumbles and just one deal.

Iraq kicks off landmark oil licensing round, opening fields to foreign firms

BAGHDAD — Iraq opened up some of its massive oil and gas fields to foreign firms on Tuesday, kicking off a landmark licensing round it hopes will help fuel its postwar reconstruction efforts.

Iraqi official: US’s Weatherford bags $224M contract to drill 20 oil wells in southern Iraq

BAGHDAD — An Iraqi oil official says U.S. oilfield services company Weatherford International Ltd., has won a $224.4-million contract to drill in southern Iraq.

Iraqi government OKs crude oil export from self-ruled Kurdish region

BAGHDAD — Iraq’s central government has approved Kurdish plans to export crude from the northern region, officials said Sunday, a step that could pave the way to ease tensions between Arab-led government and Kurds mainly over how to control oil resources.