IT MAY STILL be a challenging market to operate in, but Iraq no doubt presents one of the greatest opportunities in today's oil industry. After declaring victory over Islamic State (IS) in December, and taking back all territory captured by militants in 2014 and 2015, the country is once again looking forward. Even in previously troubled areas there is a sense that the industry is ready and keen to return to work. That's certainly evident in the north, in the wake of years of chaos, fighting and factions. Baghdad has just invited bids for the construction of a new 100,000 bpd refinery near Mosul in the province of Nineveh, tor instance. Mosul was the IS de facto capital in northern Iraq, until it was dislodged in 2017.
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