BP set for Iraqi oil licence as cabinet approves deal

[sabra]

Source: Independent

Group will share rights over 17bn barrel Rumaila field with China's state-owned CNPC

Iraq's cabinet has approved a deal with BP to develop the huge Rumaila oil field in the country's first international energy deal since the American-led invasion in 2003.

The agreement, which was brokered in June during the first round of tendering for licences to exploit Iraq's enormous and largely untapped hydrocarbon resources, should also send "a strong signal" to other energy groups that the Iraqi administration is keen to secure deals.

Abdul-Mahdy al-Ameedi, the deputy director of Iraq's Petroleum Contracts and Licensing Directorate, said: "We believe that we have a strong pillar now for our work toward realising our plans." Mr al-Ameedi was speaking in Istanbul, where Iraqi officials are meeting oil companies ahead of a second tender of oil-field contracts due in December.

Separately, Iraqi officials have also reopened talks with Royal Dutch Shell about a revised offer for licences connected to an oil field in the city of Kirkuk in the north of the country.

Read more: http://www.independent.co.uk/news/business/news/bp-set-for-iraqi-oil-licence-as-cabinet-approves-deal-1805329.html

[DURHAM D]

1. So let me see if I get this...

The U.S. spends all our blood and treasure in Iraq for U.S. corporations and then the U.S. corporations don't like the terms so they take their bat and ball and go home.

Whereupon, the UK and China move in to reap the spoils of war.

We are doing the same thing in Afghanistan and China and Russia will get the spoils.

This is all wrong on so many levels.

[liberal N proud]

2. There's blood in that oil

[ck4829]

3. And it ONLY cost 85,000 Iraqi lives and 4,000 American lives to secure this deal! Congrats guys!

[ConcernedCanuk]

4. But the invasion and occupation by the USA and its "coalition" of Iraq was NOT about oil . . .

.
.
.

was it?

nahh . . .