Iraq oil deals falling through

Seoul News.Net
Monday 18th August, 2008

The Iraqi government of Prime Minister Nouri Al Maliki is hoping to sign many newoil deals by next year when global oil companies will be given their first major commercial access to the OPEC member's fields in nearly four decades.

But deals with foreign companies have so far been delayed in part due to disagreement over payment terms.

The deals involve Royal Dutch Shell; Shell in partnership with BHP Billiton; BP; ExxonMobil; Chevron with Total; and a consortium of smaller firms Anadarko, Vitol and Dome.

Some of the players have already walked away from the deals, with Andarko
being the latest.

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