Iraqi oil fields showcased in Istanbul - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iraqi oil fields showcased in Istanbul

Posted:
ANKARA, Turkey (AP) -- Iraq is showcasing oil fields on offer for development to international companies in a meeting in Istanbul on Tuesday, a Turkish energy official said.

Iraq's Oil Minister, Hussain al-Shahristani, is chairing Tuesday's meeting with technical experts from international oil companies, the energy official said on condition of anonymity because she was not authorized to brief journalists.

The Istanbul roadshow comes after the country's first oil auction in 30 years in June flopped, having secured just one deal.

Iraq's government sees foreign licensing as key to boosting the country's oil output and fueling its postwar recovery.

Powered by Frankly