Iraq has signed a multi-billion dollar deal with oil and gas giant Royal Dutch Shell, giving the company access to its natural gas reserves. The deal is the second between the government and a foreign firm since the US-led invasion of Iraq in 2003. Al Jazeera’s Nicole Johnston reports that under the terms of the deal, Iraq will have 51 per cent in the venture based in Basra and Shell 49 per cent. (2:20 min)
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on Sep 30th, 2008 at 12:32 pm
the next phase in the raping and pilaging perhaps….
seriously though, I guess it can only be a good thing to capture that natural gas rather than burn it off as they had been doing till now.
I’m surprised China has been able to get a foothold in here… that really shoots down some theories of mine that part of the reason for the US invasion was to prevent China from making an oil deal with Iraq.
on Sep 30th, 2008 at 4:59 pm
I can’t believe it was just burning it off when it could be harnessed. Yes, I was very surprised too about China… and Shell is an English company.