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May 26, 2003
China And Russia Lose Iraqi Oil Contracts

BBC NEWS | Business | Iraq halts Russian and Chinese oil deals

The US-run Iraqi administration has cancelled or suspended three oil contracts with Russian and Chinese firms signed by the ousted government of Saddam Hussein.

Thamir Ghadhban, the US-appointed de facto Iraqi oil minister, said on Saturday all pre-war contracts would be re-evaluated and new deals announced soon.

"We will examine each one on its legal, economic merits," he said.

But he added that Russia's biggest oil company Lukoil had already lost a contract in West Qurna while a Chinese deal to develop the al-Ahdab field was suspended by "mutual agreement".

No details were given about the third contract.

His comments come just days after the UN Security Council lifted sanctions against Iraq.

French, Russian and Chinese companies all won contracts in recent years for work in Iraq. Their governments opposed US war plans at the UN Security Council.

Posted By Robert Prather (The Mind Of Man) at May 26, 2003 07:16 AM | TrackBack
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Ha ha

Posted by: Original Mark at May 26, 2003 07:59 AM

Sounds to me like Nikita better come up with a better batch of vodka...

Posted by: Dave Dube at May 26, 2003 08:11 AM

Ohhh, that's gotta hurt! Heh heh.

Posted by: Andrew at May 26, 2003 01:11 PM

TotalElfFina never signed any contracts. There were negotiations in 1999, but no contracts were signed. Which is why no contracts were cancelled. :)

Posted by: Jacques at May 28, 2003 06:11 PM
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