Wed, Jul 02, 2008 - Page 1 News List

Iraq opens international oil bidding, sues oil firms

GIVE WITH ONE HAND Fields under the program could raise oil production by 1.5 million barrels per day, which could cause a drop in the price of oil

AGENCIES , BAGHDAD AND NEW YORK

“The corruption of the ... program has been described as the largest financial fraud in human history, but its impact on the people of Iraq went far beyond financial loss,” the lawsuit said.

Other firms named include European bank BNP Paribas, drug makers GlaxoSmithKline and Roche Holding, units of drug company Schering-Plough, and several units of Switzerland’s ABB Group.

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