New Iraq Government can Cancel the Oil Contracts

Norwegian news portal, Hegnar wrote that the contracts of foreign oil companies with the Iraqi government can be canceled after the elections in January 2010.

Hegnar based on the claims on the leader of the Iraqi national assembly’s oil and gas committee, Ali Hussain Balou’s statements. The portal wrote that he warned the international companies noting that a new government may change the terms of the contracts and even they can be canceled.

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