It's not even clear the one agreement will go through--opposition from some in parliament who question the legality.

Oil firms are not at all happy with the "maximum bonus" and "set fee per barrel" provisions. I have no idea what CNN says, but so far, the bidding is a flop--from the firms' standpoint. But the Iraqi government says it is happy with the outcome for the Rumalia field.

Source: WSJ today

Companies especially unhappy, as I noted earlier, with the idea they would own no oil themselves.



Unclear what any next move on any side will be--another bidding process or compromise by the oil ministry.