Shell Studies Iraqi Oil-Field Investment With China

[Coventina]

Source: Bloomberg

April 14 (Bloomberg) -- Royal Dutch Shell Plc, Europe’s largest oil producer, is in talks with Chinese companies on bidding jointly for contracts to develop Iraqi crude deposits as the Middle Eastern country seeks investment to boost production.

“We are in the process of forming partnerships for certain bids and Chinese companies are part of that,” Chief Executive Officer Jeroen van der Veer told reporters in Beijing today. The deadline for proposals will probably be at the end of June or early July, he said, without identifying potential partners.

Shell and competitors such as Exxon Mobil Corp. and Chevron Corp. are among 35 international companies that pre-qualified for the bidding process last year. Iraq, aiming to attract foreign investors after six years of conflict and prior sanctions destroyed infrastructure, is running two licensing rounds to help develop oil and natural-gas fields.

China, which relies on imports for about half its crude needs, is seeking to increase investment in overseas fields as declining oil prices make asset purchases more affordable. China National Petroleum Corp. and China Petrochemical Corp. are the country’s biggest oil producers.

Read more: http://www.bloomberg.com/apps/news?pid=20601102&sid=auR0J647RP.8&refer=uk

[leveymg]

1. "China National Petroleum Corp. & China Petrochemical Corp. are the country’s biggest oil producers"

And, China is the biggest buyer of Bush-era U.S. debt.

There's a weird symmetry to this.

[Mari333]

2. all the soldiers died for this bullshit. they died for nothing.

and nothing else. and no one will be held accountable. and no one will be charged with war crimes.