IOCs asked to suggest contract changes
Oil price drop prompts Oil Ministry to request cost-cutting measures this year and contractual changes that will alter the decades-long contracts.
Rick Vierbuchen (R), then president of ExxonMobil Upstream Ventures, shakes hands with Abdul Mahdy al-Ameedi, the director general of the Oil Ministry's Petroleum Contracts and Licensing Directorate (PCLD), after signing an initial deal for the West Qurna 1 field on Nov. 5, 2009. (MOHAMMED AMEEN/Reuters)
This content is for registered users. Please login to continue.
If you are not a registered user, you may purchase a subscription.
If you are not a registered user, you may purchase a subscription.
