Iraq oil development rights won by Shell

[pampango]

Source: BBC

A joint venture between the UK's Shell and Malaysia's Petronas oil companies has won the right to develop Iraq's giant Majnoon oil field.

The venture offer beat a rival bid from France's Total and China's CNPC.

A total of 44 companies are bidding for 10 fields in the second live auction to take place this year.

Eight contracts to run oil and gas fields were up for tender in June, although only one was agreed - with BP and CNPC.

Read more: http://news.bbc.co.uk/2/hi/business/8407274.stm

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FWIW, no American companies won a service contract in June or December.

[Goldstein1984]

1. So much for empire and energy

And Haliburton has been there from the beginning of the invasion.

[Kurt Remarque]

2. only several hundred thousand iraquis died for this

another day in the neighborhood

[Amonester]

10. plus a few thousand 'murkins and a few hundred 'brits

moreso, a few tens of thousands of them are maimed for life

they should get together and sue Shell Inc.

[OnyxCollie]

3. K&R. nt

[Robb]

4. "No American companies" doesn't matter in the oil biz.

First, they're only "American companies" if they decide from a cost basis to base activities out of the U.S. There are cheaper places to pay taxes if you're a big oil company, usually, although there are exceptions.

Second, they're all partnered with one another in exploration and development all over the globe. It almost doesn't matter who wins what contract, as they will all benefit one way or another. Shell gets this contract, and makes money, and can spend more on an exploration gig with Delta or whoever elsewhere.

Sort of like it doesn't matter who buys the turkey on Thanksgiving. Everyone in the family gets a good plate full.

[WriteDown]

8. I'm fairly certain that companies such as Exxon are

VERY disappointed they are not Shell right now. That is like saying that Target is happy when Walmart does well because they both use a lot of the same Chinese manufacturers.

[No Elephants]

12. OTOH, If no American company had rights to "develop" oil in the Middle East, all American oil

companies would be grumpy.

[KansDem]

5. Well, there you have it...

Will we hear soon that the "Iraqi Security Forces" are properly and thoroughly trained now so we can leave?

[classysassy]

6. Capitalism

the bane of the poor.

[xxqqqzme]

7. How many have died to produce this elaborate

farce?

Disgusting.

[pfitz59]

9. war for oil

simple as that! now move along.....

[New Dawn]

11. And this was why the US/UK/minions illegally invaded Iraq: to steal their oil.

[No Elephants]

13. An American oil company got rights to "develop" Iraq's oil? MISSION ACCOMPLISHED!

Ya know, I always thought it took many millenia to develop oil. Since when is depleting a finite and irreplaceable amount of oil "developing" oil?

Don't they mean using up irreplaceable oil that never belonged to us in the first place to make a few families a lot richer and to make a bunch of lesser stockholders a tiny bit richer?