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[11 Dec 2009 | 2 Comments | 2,268 supporters]
Petronas and Shell secured giant oildfield in Iraq

[singlepic id=40 w=320 h=240 float=]BAGHDAD: Royal Dutch Shell and Malaysia’s Petronas on Friday won the rights to develop one of the world’s largest remaining untapped oilfields as Iraq staged its second auction of oil contracts since the 2003 U.S. invasion.
The companies proposed a per barrel fee of just $1.39 per barrel and pledged to increase output from the supergiant Majnoon field to 1.8 million barrels per day, more than double what Iraq had expected. The fee was lower than Iraq had been willing to pay.
“We announce that the consortium of …