What Iraq's Urgent Energy Talks With Washington Really Mean

Iraq is to open 10 new gas exploration blocks to international investors in the coming weeks, according to Oil Minister, Hayan Abdul-Ghani. These new contracts follow the awarding of concessions on 14 out of 29 blocks and fields offered in previous licensing rounds. Many of these went to Chinese firms, which manage more than a third of Iraq’s proven oil and gas reserves and over two-thirds of its current production, according to industry figures. In an interesting twist, Abdul-Ghani subsequently stated that these new gas opportunities…