Friday, October 17, 2008

Iraq's oil minitster is laying out the 1st set of rules and regulations that he is going to set down for other mulinations in need of their foriegn oil. while Iraq's oil industry badly needs foreign investment, Iraqi officials don't want to be viewed by Western oil interests.Officials in Iraq say the meeting's purpose was to help the world's energy giants prepare their bids for 20-year service contracts at Iraq's biggest oil and gas producing fields.Some industry representatives outside the conference expressed frustration over the lack of details begin given.The oil minister gave the firms six-month deadline to submit their bids. they plan to announce winners in June of 2009.

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