No international oil major won any exploration and development contracts in Iraq’s Thursday auction of 11 oil and gas blocks, as the bidding attracted just one—unsuccessful—bid by a major company, Eni, while other Big Oil firms decided not to bid. Iraq awarded six of the 11 blocks to Middle East and China-based companies, while five of the exploration areas up for grabs failed to attract any bids. As of early April, as many as 16 companies—including Big Oil’s Exxon, Chevron, and Total— expressed interest in taking part in Iraq’s bidding round. The other interested bidders were Eni, Lukoil, Gazprom, Zarubezhneft, Petroliam Nasional Bhd, Oil & Natural Gas Corp, CNOOC, Geo-Jade Petroleum Corp, China ZhenHua Oil Co, United Energy Group Ltd, Dana Gas, Crescent Petroleum, and Dragon Oil Plc. A few days later, Iraq’s oil ministry said that 14 companies bought a package containing the bidding documents and terms. At […]