Thursday, February 7, 2008

Big Oil Interested In Iraq

Shell, Repsol Register For Iraqi Oil

Oil major Royal Dutch Shell and Spanish energy company Repsol YPF have both registered to compete for contracts to develop Iraq's huge oil reserves, company sources said on Wednesday. Big oil firms have been positioning themselves for years to gain access to the world's third-largest reserves, among the cheapest oil to produce in the world. Iraq has given companies until Feb. 18 to submit documents that will qualify them to compete in tenders for service contracts to help develop its oil infrastructure. The deadline was extended from Jan. 31.

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