Iraq seals oil deal with Russia's Gazprom (AP)

A consortium led by Russia's Gazprom has signed a deal to develop a small oil field in central Iraq. Under the 20-year deal, Gazprom and partners TPAO of Turkey, KOGAS of South Korea and Malaysia's Petronas will develop the 100 million-barrel Badra field in Wasit province for $5.50 for each barrel produced.