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Iraq Delegates Seek Greater Oil Investment

Wednesday, February 08, 2006 8:35:30 PM
By STEVE QUINN

HOUSTON (AP) - Iraqi delegates visiting the United States on a trade mission said Wednesday they desperately need U.S. investment to begin rebuilding their oil and gas infrastructure.

The Iraqi officials, who spoke on condition of anonymity because of security concerns, said Iraq needs at least $20 billion of foreign investment, but that number could more than double as conflict with insurgents persists.

So far, the U.S. has spent $1.7 billion on Iraq's oil and gas infrastructure, according to an audit released last month by the Special Inspector General for Iraq Relief and Reconstruction Fund.


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