Iraq to earn 100 times more than oil companies, says minister
Iraq's Oil Minister Hussain al-Shahristani told parlaiment the country stands to earn 100 times more than international companies that develop some of its largest crude deposits. He said foreign investment will raise production and profit for the country while overseas oil companies get paid a fee for developing deposits without taking stakes in Iraqi fields, reported Bloomberg.
Iraq's Oil Minister Hussain al-Shahristani told parlaiment the country stands to earn 100 times more than international companies that develop some of its largest crude deposits. He said foreign investment will raise production and profit for the country while overseas oil companies get paid a fee for developing deposits without taking stakes in Iraqi fields, reported Bloomberg.
