So it was all about oil in Iraq after all
Oil giants return to Iraq – Shell, BP, Exxon Mobil and Total set to sign deal with Baghdad
By Patrick Cockburn
(source: www.independent.co.uk)
Nearly four decades after the four biggest Western oil companies were expelled from Iraq by Saddam Hussein, they are negotiating their return. By the end of the month, Royal Dutch Shell, BP, Exxon Mobil and Total will sign agreements with the Baghdad government, Iraq’s first with big Western oil firms since the US-led invasion in 2003.
The deals are for repair and technical support in some of the country’s largest oilfields, the Oil Ministry in Baghdad said yesterday. The return of "Big Oil" will add to the suspicions of those in the Middle East who claimed that the overthrow of Saddam was secretly driven by the West’s desire to gain control of Iraq’s oil. It will also be greeted with dismay by many Iraqis who fear losing control of their vast oil reserves.
Iraq’s reserves are believed to be second only to Saudi Arabia in the Middle East, but their exploitation has long been hampered by UN sanctions, imposed on Iraq after Saddam Hussein invaded Kuwait in 1990.