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Iraq Moves Toward Signing Deals with Foreign Oil Firms

HeadlineMar 06, 2008

Iraq’s cabinet has given the green light to the Oil Ministry to sign agreements with international oil companies to help increase the nation’s crude output. Royal Dutch Shell, ExxonMobil, Chevron and Total are among the international companies that have submitted proposals to develop five new oil fields. The Iraqi Parliament has still not agreed on a law to determine how the country’s oil wealth will be divided.

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