Fighting For Iraqi Oil Rights
Iraqi boats have the third of estimated global reserves of oil and have been attracting more and more oil companies this year in 2009. Dutch powerhouse Shell is holding talks with Chinese state-owned oil companies to submit joint bids for multinational oil refining projects in Iraq. Both parties are seeking to expand their presence in the petroleum refining sector, and of course Iraq is the right place to fulfill their objective.
The Chinese government is already taking charge of the domestic oil business through a host of giant companies, and now they want to thrive on a global scale by gaining more assets in other countries.
Shell Executive Jeroen Van Der Veer has confirmed the joint venture between the Dutch company and its Chinese counterparts, but he is yet to reveal further details.
China is one of the pivotal industrial countries in the world, and should these projects get executed. The Tigers will have more influence and power in Asia. On the other hand, Shell, the second largest non-governmental oil company on earth, has been planning to take over rich sources in several countries in Europe and Africa to ensure its superiority in the market. So this project is not the end of the line for European giants.
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This article may be reprinted online and offline
as long as this box remains and its link is
hyperlinked online. Written by Darren Chabluk
for http://DrDinar.com/blog
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