Iraq failed to attract investment from the top global energy companies in its oil and gas exploration/development contract auction on Thursday, with no major firms winning any bids and only Italy’s Eni submitting an offer. The Oil Ministry held an auction to award contracts to international energy companies, with 11 blocks on offer near the borders with Iran and Kuwait and in offshore Gulf waters. “We have decided to speed up the development of border fields after five decades without investments … leaving them without investments meant wasting the oil wealth of the country,” Oil Minister Jabar al-Luaibi said ahead of bidding. “I say to the companies (that will bid), ‘thank you’ because this means trusting Iraq … and it […]