Iraqi Talks with Shell Continue

Reuters reports that talks are still ongoing between Iraq and Royal Dutch Shell on a natural gas deal near the southern oil hub of Basra, although they are taking longer than expected, a senior Iraqi oil official said on Friday.

"The heads of agreement will be extended and the project will be presented to the next government," the official told Reuters.

The Iraqi government has been working to finalize the joint venture between its South Gas Company, Shell and Mitsubishi. The deal would capture huge amounts of gas for domestic use or export, which is currently wasted by being flared at the oil fields.

(Source: Reuters)

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