In secret agreement, shell nets 25-year monopoly on s. Iraq's gas

IN SECRET AGREEMENT, SHELL NETS 25-YEAR MONOPOLY ON S. IRAQ'S GAS

Posted On: November 8th, 2008

Royal Dutch Shell oil company and the Iraqi Oil Ministry have struck a secret, as-of-yet non-binding agreement that gives a monopoly over southern Iraq's natural gas to the energy giant. It marks the first time in over 35 years a Western oil company has played a major role in the country's most lucrative industry.

Signed Sept. 22 and obtained by United Press International, the "Heads of Agreement" document — basically a legal framework for a contract — delegates Shell sole access to the reserves for the next 25 years, with an option to extend that term.

"There hasn't been much transparency in this agreement," said Ali Hussain Balou, chairman of Iraq's Oil and Gas Committee, in a report by Reuters. "They did not give a chance to another company. We want to know why."

The agreement does not allow Iraqi's the first rights to the natural gas reserves

Well thankgod they managed to get that gas deal signed before George left office.

25yrs control, with Iraqi's NOT having first preference over the fields, and the option to extend.

sounds like robbery to me?

www.republicbroadcasting.org...


Mod Edit: All Caps – Please Review This Link.


[edit on 10-11-2008 by Gemwolf]

reply to post by Agit8dChop


Hmm, corporate interests getting sweetheart deals that will make them billions of dollars in Iraq? Can someone remind me why we went to war with Iraq again?

reply to post by Karlhungis


In my opinion...you just answered your own question. Isn't this what they mean by "Transparency of Government"?
I have "known" for years now (7, I believe), that it was about oil.

Was there really any question?

Cuhail