Iraq is asking international oil companies (IOCs) to propose amendments to their multi-billion dollar oil field contracts, in addition to cutting costs and slowing down projects this year, as Iraq’s financial crisis squeezes available funding. In a Feb. 9 letter to IOCs obtained by Iraq Oil Report, the Iraqi Oil Ministry said that the contracts and development activity should be changed in light of the recent crash in oil prices. “The consequence of the oil price fall is not just on the …