Iraq's first international oil tender since 1972 is called a "disappointment," as a consortium...

|By:, SA News Editor

Iraq's first international oil tender since 1972 is called a "disappointment," as a consortium including BP and China National Petroleum makes the only foreign deal - for the 17B-barrel Rumaila oilfield, Iraq's biggest. The government's tough terms discouraged bidders for the other seven fields on offer and forced BP to lower the fee on its deal.