BP Rewrites Rumaila Oil Contract

The 2009 contract between BP and the Iraqi government for oil production at the Rumaila oil field has been quietly rewritten in favour of the oil giant, according to Aknews.

the Iraqi government will now continue to pay BP when production is affected by civil disruption, disruption in oil transportation, political decisions or OPEC cuts.

Platform, which campaigns for social and environmental justice, first reported about the “illegitimate contracts” between BP and the Ministry of Oil when they were signed back in 2009, as workers unions believed this would put 10% of Iraq’s proven reserves effectively under the control of foreign companies – BP and its Chinese partner CNPC.

Now, Platform said these new changes “reveals what subsequently happened behind closed doors to make the contracts much more attractive to the multinational companies, at the expense of the Iraqi people.”

 

(Sources: Aknews; Guardian)

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