BP progresses with plans to invest in Iraq

Source: CNN Money

LONDON, Feb. 5, 2008 (Thomson Financial delivered by Newstex) -- BP (NYSE:BP) (TSX:BP'U) PLC is progressing with plans to invest in oil-rich Iraq, chief executive Tony Hayward said.

He told reporters the group has been holding meetings with Iraqi oil officials.

BP is hoping to forge a 'more formal technical services agreement' with the Iraqi government relating to the development of the country's vast oil industry, he told reporters in a news conference.

Security and political issues remain a worry, but Hayward noted the situation has now been 'significantly better' than it was six to 12 months ago.

Royal Dutch Shell PLC (NYSE:RDS A) is also prepared to return to Iraq but could only do so once the government enacts a new oil law, chief executive Jeroen van der Veer had told reporters last week.

Read more: http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-22787896.htm

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MISSION ACCOMPLISHED!

I hope it was worth the souls you squandered, you jerk.

What. Fund all factions who still haven't settled who gets the oil?

I wonder how they will feel when they have poored millions in construction to see it blown up. It's probably just me though.

'Invest in Iraq' - rough translation - 'Invest in the oil'

And you can bet any money they wouldn't have got that if Bliar hadn't supported the invasion, they're dividing the spoils of war.

Don't get me wrong, I left because they kept crossing the line over and over at the particular petrol station I was working at, but certainly this stuff doesn't make me regret it