Big oil is turning its attention to Iraq once again. But this time, instead of fear and dread, oil companies are looking to the Gulf state with hope and optimism. In recent years, the Iraqi oil industry usually made the news for all the wrong reasons: sabotages of pipelines, bomb attacks at drilling sites, employee kidnappings, and government corruption. But U.S. and international oil firms are now focusing on the oil-rich nation as the site of expansion efforts that could prove to be very profitable.

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