Iraq to Pay Oil Firms to Boost Its Output

BAGHDAD -- The Iraqi government is expected to pay up to $2.5 billion to five top oil companies to increase the country's oil output by nearly a quarter, a government adviser told Reuters on Wednesday. In what would be the biggest foreign involvement for decades, Baghdad is close to signing technical support contracts with BP, Royal Dutch Shell, Exxon Mobil, Chevron and Total. Read more...

Posted by Editor at March 24, 2008 02:09 PM