Most of the mainstream Western media reported – but gave little heed – to the recent agreements between the Iraqi Government and International oil companies to exploit Iraq’s vast oil resources. It was casually reported that "service contracts" were to be granted to a group of Western oil companies to refurbish and increase production in several Iraqi oilfields. Shortly thereafter, it was confirmed that oil contracts going back to the Saddam era (mostly with Chinese and Russian companies) to exploit several other oilfields will be revived - and revised - and will shortly enter into effect.
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