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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (91291)	11/10/2009 12:23:04 PM
From: puborectalis	Read Replies (1) of 94695

Is there any question we went into Iraq for the OIL?...... Eni, the U.S.'s Occidental Petroleum Corp. and South Korea's KOGAS last week initialed a deal to develop the 4.1 billion barrel Zubair field, with an eye toward boosting output from around 200,000 barrels per day to 1.1 million barrels per day within seven years. The deal must still be approved by the Iraqi Cabinet. Another deal initialed last week, with a consortium led by U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC for the West Qurna Stage 1 field, is also awaiting Cabinet approval.

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