UK and U.S. take lion's share in Iraq oil tender [View All]

[LauraK]

LONDON (Reuters) - U.S. and UK-based oil majors have taken the lion's share of Iraq's second post-Saddam crude oil sell tender, companies have confirmed.

A Royal Dutch/Shell spokesman said the major had been awarded two million barrels of Basra Light crude in the tender, which closed on Monday, joining U.S. ChevronTexaco and BP, who both confirmed winning earlier.

The fourth cargo went to Swiss-based trading house Taurus, the first trader to win a cargo since the U.S. invasion. Baghdad had expressed a preference for refiners in the tender.

It is the first time the British companies have been awarded Iraqi crude since the U.S.-led invasion. ChevronTexaco won its first Basra Light cargo in the previous tender.

Iraqi officials are due to confirm the awards later on Wednesday.
<cut
http://www.reuters.co.uk/newsArticle.jhtml?type=businessNews&storyID=3059335