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Exxon, Shell to develop Iraqi oil

The Concord Monitor -- Exxon Mobil and Royal Dutch Shell signed a deal yesterday with the Iraqi Oil Ministry to develop a major field, marking the first foray by a U.S.-led consortium into Iraq's promising but uncertain oil industry.

The agreement, the second of its kind signed this week, suggests that foreign companies that initially balked at the terms the ministry offered at a public auction in June now think the prospect of eventually tapping into Iraq's vast oil reserves outweighs the risks. Oil Minister Hussain Shahristani called the deal "another huge achievement in the pursuit of rebuilding this country."

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Submitted Nov 06, 2009 By: RxHugh

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dranske Champion Author Miami Posts:1,144 Points:380,800 Joined:Jun 2008	Message Posted: Nov 7, 2009 9:28:43 AM Ignore dranske Report Abuse Unfortunately it is Iraq again...
HailstormCA Champion Author San Diego Posts:2,198 Points:355,240 Joined:Nov 2008	Message Posted: Nov 7, 2009 8:48:13 AM Ignore HailstormCA Report Abuse With our interest in their economy growing we may never get out of Iraq.
granma3xnow Champion Author Indiana Posts:1,422 Points:297,600 Joined:Dec 2008	Message Posted: Nov 7, 2009 8:37:49 AM Ignore granma3xnow Report Abuse Oh boy, here we go.
silverfox63 Champion Author Michigan Posts:1,926 Points:387,790 Joined:Oct 2008	Message Posted: Nov 7, 2009 6:45:30 AM Ignore silverfox63 Report Abuse The rich just got richer!!
spiderjay Champion Author Little Rock Posts:1,523 Points:389,535 Joined:Oct 2005	Message Posted: Nov 7, 2009 5:52:10 AM Ignore spiderjay Report Abuse Yes we will step in and help we are just that kind of people to help when needed (Ha, Ha, Ha, Ha, Ha Money, Money, Money, Money, Money Everybody's got a price,Everybody's gonna pay Cuz the Million dollar Man, Always gets his way Ha, Ha, Ha, Ha, Ha Money, Money, Money, Money, Money Some might cost a little, some might cost a lot But I'm the Million Dollar Man, And you will be bought Ha, Ha, Ha, Ha, Ha Money, Money, Money, Money, Money Ha, Ha, Ha, Ha, Ha Money, Money, Money, Money, Money Ha, Ha, Ha, Ha, Ha Money, Money, Money, Money, Money)
Mooseman1 Champion Author Manitoba Posts:4,018 Points:659,010 Joined:Jul 2007	Message Posted: Nov 7, 2009 4:01:00 AM Ignore Mooseman1 Report Abuse This is an amazing development. I would never have guess any North American company would be allowed to setup business in Iraq?
GMVAN Veteran Author Calgary Posts:384 Points:142,230 Joined:Apr 2009	Message Posted: Nov 7, 2009 2:02:44 AM Ignore GMVAN Report Abuse Exxon and Shell will rebuild their profits too!
CruisinLinda Champion Author Tallahassee Posts:4,987 Points:1,012,410 Joined:Sep 2005	Message Posted: Nov 7, 2009 1:40:09 AM Ignore CruisinLinda Report Abuse How did our oil get under their land?! We didn't invade them and occupy them for almost seven years for nothing.
sosgas Veteran Author Portland Posts:327 Points:170,240 Joined:Feb 2009	Message Posted: Nov 7, 2009 1:37:43 AM Ignore sosgas Report Abuse OK, but remember : China not sleeping !
granitestater Champion Author New Hampshire Posts:2,317 Points:352,390 Joined:Oct 2008	Message Posted: Nov 6, 2009 11:18:38 Ignore granitestater Report Abuse Thar's earl in them thar hills! Let's dig it!
DerHahn Champion Author Illinois Posts:6,214 Points:861,995 Joined:May 2004	Message Posted: Nov 6, 2009 10:54:43 Ignore DerHahn Report Abuse after all of this time, they are just now getting around to getting those wells going again?
TomT2Lee Champion Author Cincinnati Posts:2,634 Points:915,825 Joined:Sep 2005	Message Posted: Nov 6, 2009 10:09:08 Ignore TomT2Lee Report Abuse Too little, too late.