A Crack in the Reserve
In a change of position by the Iraqi government, they have announced a deal Monday allowing Shell Oil Company to tap the Iraqi reserves. This is actually the second deal signed in as many months by the Iraqi government granting foreign investment in the oil reserves, a move Iraqi nationalists have opposed for years. In addition to this, the Iraqi government has opened up licensing rounds, which would open up more oil fields to foreign companies. Perhaps this is a change in Iraqi policy to better embrace globalization and hopefully build infrastructure in a country torn apart by war.
Dennis Gallagher
