Turkish company given permission to bid for Iraqi oil delas

Iraq's Oil Ministry announced yesterday that six more foreign companies, including the Turkish Petroleum Company (TPAO), will be able to bid for future oil and natural gas deals in the country. The ministry stated that in addition to 35 previously announced companies, state companies from Turkey, Vietnam, Pakistan, Thailand, Angola and Algeria will be allowed to bid for contracts. The agreements are expected to be signed on next Monday, June 30. Iraq may have the largest oil reserves in the world.