Will Big Oil Have a Chance in Iraq?

Iraq has once again returned to prominence as a dominant oil-producing country. Producing more than 3 million barrels of oil per day, the country has now overtaken Iran as the second largest OPEC producing nation. There's an estimated 143 billion barrels of oil in reserve, and large multinational oil firms are trying to secure contracts to drill for the black gold. However, after agreeing to deals in the semi-autonomous Kurdistan region, a number of big oil companies have an ultimatum -- either leave the Kurd region or be permanently restricted from Iraqi drilling auctions. Check out the video below for more information on the Iraqi oil landscape and the players involved.

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Austin Smith has no positions in the stocks mentioned above. Joel South owns shares of ExxonMobil. The Motley Fool owns shares of ExxonMobil. Motley Fool newsletter services recommend Chevron and Total SA (ADR). Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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