Iraq was criticized within energy circles for signing service contracts that gives international energy giants a production fee of just $ 1.15 - $ 2.50 a barrel , instead of production sharing agreements that give the majors a percentage of overall production . The violence in Iraq is a reminder the country is far from stable , but oil production is set to rise this year . Comment: Deputy PM Hussain al-Shahristani said new fields would add to production . Thawing relations between Tehran and Washington could assist in this .
The violence in Iraq is a reminder the country is far from stable , but oil production is set to rise this year . Comment: Deputy PM Hussain al-Shahristani said new fields would add to production . Thawing relations between Tehran and Washington could assist in this .