Iraqi oil bids to be cancelled, MP expects

Thursday, August 18, 2016 4:08 AM

Baghdad/ Iraq TradeLink:

Iraqi Parliamentary Oil and Energy Commission's MP Ali al-Fayyad expected that the coming future will witness the "cancellation of the oil bids in the country".

In a press statement, he re-iterated his previous statements that the oil bids "costed" the Iraqi government millions of dollars annually, pointing that the bids were made in 2006, where no law oil existed.

Media sources reported that the new Iraqi oil minister Jabbar Li'aibi is expected to "review" the oil bids, but no further details were given by the Iraqi governmental authorities.