Licensing round blow for Iraq

Poor response: Iraq’s Oil Minister Abdul-Karim Luaibi during the fourth licensing round at the Oil Ministry’s headquarters in Baghdad

REUTERS/SCANPIX

By Nassir Shirkhani London

 31 May 2012 22:59 GMT

Iraq’s fourth licensing round was set to prove a disappointment with the Oil Ministry managing to award only one of 12 blocks on offer on the opening day of a two-day auction shunned by majors wary of poor terms and an uncertain political landscape.

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