the fuelcard people

News Categories

previous page

Shell in talks with Iraq over oil rights

14 October, 09
Shell is in talks with the Iraqi government over rights to oil fields in the country that remained unsold after an auction in June.

The Dutch oil giant's chief executive Peter Voser told news agency Reuters: "The Iraqi government is evaluating their next steps and has contacted companies, among them are Shell, and we are in constant discussions with them on the way forward."

In the first round of bidding on the giant Zubair and West Qurba fields, Shell wanted prices of $4 (£2.51) per barrel, but the Iraqi government only offered $1.90.

It follows British diesel producer BP's recent deal with the country's oil agency to triple production at one of its southern fields.

The BP deal was in partnership with state-owned Chinese oil company China National Petroleum Corporation, and was reported by Reuters to be worth $2 per barrel.

Output at the new BP site is planned to be around 2.8 million barrels of oil a day.ADNFCR-2675-ID-19407890-ADNFCR

Share |

Shell in talks with Iraq over oil rights