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Costs and security fears weigh on Iraq oil auction

Originally published: December 11, 2009 2:41 AM
Updated: December 11, 2009 4:19 PM
By The Associated Press  SINAN SALAHEDDIN (Associated Press Writers), TAREK EL-TABLAWY (Associated Press Writers)

Quick ReadCosts and security fears weigh on Iraq's international oil auction, with only 2 deals stuck

Photos

BAGHDAD (AP) — Iraqi officials cheered and clapped as the first oil field up for bid went to a major international consortium at the opening of the country's biggest postwar auction Friday. But from there, the chill set in.

Oil executives from around the world made deals on only two fields, both in Iraq's relatively stable south, while shunning six others in regions with sporadic violence...

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