Iraq oil

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Oil-for-Food Tycoon Pleads Guilty
Oil-for-Food
Tycoon
Pleads Guilty

Oil-for-Food Tycoon Pleads Guilty

Octogenarian Wyatt faces 18 to 24 months, will return $11M

(Newser) - Oil magnate Oscar Wyatt pleaded guilty to conspiracy today, ending his trial on federal charges that he paid Saddam Hussein's government millions to secure oil supply deals in  the UN oil-for-food program scandal. The 83-year-old Wyatt will serve 18 to 24 months in prison and give up $11 million, Reuters...

Big Oil Shut Out Of Iraq Deals
Big Oil Shut Out
Of Iraq Deals

Big Oil Shut Out Of Iraq Deals

First new oil contracts go to China, India—even Vietnam and Indonesia

(Newser) - U.S. oil companies are far from first in line as Iraq doles out its initial oil contracts.   China, India—even Vietnam and Indonesia—have the inside track instead, thanks to contracts and infrastructure dating back to the Saddam regime, and more positive Iraqi sentiment. "They have...

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