Oil Companies Bidding in Iraq Should Review Nigerian Situation

Oil companies hoping to work in Iraq may want to review the recurrent violence in oil-rich parts of Nigeria. Despite the fact that attacks are at their lowest level in more than four years, Iraq is considered to be much more dangerous. Representatives of 35 international oil companies will meet with Iraqi government officials in London on Monday to discuss the bidding process for eight enormous oil and gas fields. If the contracts are approved, they could lead to the biggest foreign stake in Iraq since the industry was nationalized more than 30 years ago. About 4,000 miles from Baghdad, oil companies are doing damage control in Nigeria — arguably the most dangerous place in the world where firms like Royal Dutch Shell PLC and Exxon Mobil Corp. currently operate. Nigeria was demoted to Africa's second largest oil producer... [read full story]