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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
BP agrees cut-price Iraq oilfield deal
BP and its Chinese partner, CNPC, have accepted a contract to develop the 17 billion-barrel Rumaila field near Basra for a fee of only $2 per barrel of oil produced, nearly half the $3.99 figure in its initial offer. Nearly 30 other oversea companies withdrew from bidding after rejecting what were considered to be punitive terms on offer from the Iraqi Government.
News Item details
Websites:
http://www.guardian.co.uk
Keywords: Oil - Oil Production - see Production - General - Oil price
Countries: Iraq -
Subjects: Oil markets, Policy and Governance, Oil
