Iraq is planning to announce in December a second round of bidding for long-term contracts to develop oil fields. It also extended the deadline for bids under its first round to next March.
"If all goes well, contracts from both rounds could be awarded" as early as next summer, said Samuel Ciszuk, the business intelligence firm Global Insight's Middle East energy analyst.
The close timing of the competitions suggests Baghdad is trying to attract as wide a range of foreign participants to its oil sector as possible, offsetting the deterrent effect of its oil ministry's apparent decision to favour fee-for-service contracts over production-sharing agreements. That runs against international oil companies' strong preference for the latter due to the potential for long-term profits from production-sharing deals, while appeasing increasingly vociferous political calls within Iraq for oil industry nationalisation.
Last month, in his strongest statement on the issue to date, Hussein al Shahristani, the Iraqi oil minister, told al Jazeerah television that his ministry would never sign production sharing contracts with international companies.
In total, the oil fields under consideration under the second bidding round contain more than 40 billion barrels of reserves with production potential of three million barrels per day (bd), industry sources said.
tcarlisle@thenational.ae
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
INDIA%20SQUAD
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
THREE
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
How tumultuous protests grew
- A fuel tax protest by French drivers appealed to wider anti-government sentiment
- Unlike previous French demonstrations there was no trade union or organised movement involved
- Demonstrators responded to online petitions and flooded squares to block traffic
- At its height there were almost 300,000 on the streets in support
- Named after the high visibility jackets that drivers must keep in cars
- Clashes soon turned violent as thousands fought with police at cordons
- An estimated two dozen people lost eyes and many others were admitted to hospital
if you go
The flights
Fly to Rome with Etihad (www.etihad.ae) or Emirates (www.emirates.com) from Dh2,480 return including taxes. The flight takes six hours. Fly from Rome to Trapani with Ryanair (www.ryanair.com) from Dh420 return including taxes. The flight takes one hour 10 minutes.
The hotels
The author recommends the following hotels for this itinerary. In Trapani, Ai Lumi (www.ailumi.it); in Marsala, Viacolvento (www.viacolventomarsala.it); and in Marsala Del Vallo, the Meliaresort Dimore Storiche (www.meliaresort.it).
WHAT%20IS%20THE%20LICENSING%20PROCESS%20FOR%20VARA%3F
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RESULT
Everton 2 Huddersfield Town 0
Everton: Sigurdsson (47'), Calvert-Lewin (73')
Man of the Match: Dominic Calvert-Lewin (Everton)
The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
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