Iraq launches its second postwar licensing round in Istanbul today, offering the world's biggest energy companies the chance to help boost output by 2 million barrels per day. Seemingly unconcerned by the firstround flop in June, when one of only eight contracts was awarded, Iraq is using the same controversial bidding process for round two - which features the giant Majnoon and West Qurna-2 fields - and has scrapped plans to disclose its maximum remuneration fee.
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