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ExxonMobil signs deal to develop major oil field in Iraq
Fri, 11/06/2009 - 13:56
- Length: 5:22 minutes (4.92 MB)
- Format: MP3 Mono 44kHz 128Kbps (CBR)
Exxon Mobil and Royal Dutch Shell have signed a deal with the Iraqi Oil Ministry to develop a major oil field in Basra, southern Iraq. The 50 billion dollar deal is the first American-led venture into Iraq since the oil industry was nationalized in 1972. It’s also the second major deal signed this week – a signal that perhaps multinational oil companies are ready to return to Iraq and make huge profits.
We're joined by Charlie Cray. He's the director of the Center for Corporate Policy, a non-partisan public interest group based in Washington, D.C.
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Iraq
This is the type of business that should develop on a routine basis as a result of success in Iraq. Eventually, there should be a payback for the price we paid over there to create freedom for that nation. This will now become a ongoing business relationship that will be good for both countries. casino online