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Re engages oil { September 17 2002 } Original Source Link: (May no longer be active)    http://www.nytimes.com/reuters/business/business-energy-iraq-sales.html http://www.nytimes.com/reuters/business/business-energy-iraq-sales.html September 17, 2002 Oil Majors Set to Renew Direct Iraq Deals By REUTERS Filed at 5:28 a.m. ET OSAKA, Japan (Reuters) - International oil majors are set to buy crude direct from Iraq for the first time in two years after Baghdad dropped its surcharge on U.N. supervised oil sales, an Iraqi oil official and Western company sources said on Tuesday. Baghdad's bid to re-engage with top oil companies coincided with its announcement on Monday that it would permit the unconditional return of United Nations weapons inspectors. There is speculation in oil industry circles that Iraq is renewing commercial ties with top oil companies as part of its campaign to prevent U.S.-led military action against Iraqi leader Saddam Hussein. ``There is contact now, especially with European oil companies about crude oil supplies,'' a senior Iraqi oil official told Reuters. ``I can't say whether we will sign today or tomorrow.'' Renewed direct contracts are likely to boost Iraqi exports, now running at just a third of its 2.2 million barrels per day (bpd) export capacity. ``We are in the process of signing now,'' said a European oil executive. Since the surcharge was introduced, Iraq has only been able to attract custom from little-known middlemen. Iraq on Monday officially informed a select group of companies that its illicit fee, raked in outside the U.N. oil-for-food program since late November 2000, was scrapped and invited them back to do business. ``They said, 'We are not charging a surcharge, please come and sign a contract,''' said a Western oil executive. European companies such as Repsol (REP.MC), TotalFinaElf (TOTF.PA), ENI (ENI.MI), OMV (OMVV.VI) and Cepsastopped buying oil directly from Baghdad when it asked them to pay the controversial fee. The Iraqi oil official declined to say whether U.S. oil companies would be welcomed back as direct lifters. Baghdad, for political reasons, removed them about four years ago from the contract roster -- along with companies from Japan and Britain. Copyright 2002 Reuters Ltd. | Privacy Policy

After 36 years oil giants return to iraq { June 19 2008 } Blair advisor says war for oil Bp shell gets bulk iraqi crude oil Bush funds shift to oil production and security { September 13 2004 } Cheney 2001 energy task force { July 18 2003 } Cheney eyes iraq before 911 Cheneys oil map { July 19 2003 } Iran US stooge chalabi takes over oil { January 2 2006 } Iraq agreements with major oil companies fail { May 2008 } Iraq government to allow oil privitization { December 11 2006 } Iraq oil ministry control { April 20 2003 } Iraq oil mission successful says reporter { March 20 2006 } Iraq producing less oil than under saddam Iraq unions against oil privatization { November 2006 } Iraqi union protesters fear loss of oil control { June 3 2007 } Iraqi union workers protest oil privatization { June 5 2007 } Iraqi war oil { September 15 2002 } Iraqis fights over foreign oil rights { April 2007 } Iraqis protest theft of sovereignty oil { June 2007 } Iraqis want un control oil cash { May 9 2003 } Israel eyes iraqi oil { April 9 2003 } Israeli firm awarded oil tender in iraq { February 25 2004 } Its the oil { September 23 2002 } Last pipeline oil peak Law keeps central control over oil in iraq { January 20 2007 } Maybe 100 barrel Oil advisor conflict interest { May 16 2003 } Oil output plunges to lowest levels { January 3 2006 } Post war iraq lags in oil production { May 2 2005 } Pre 911 oil contracts { July 18 2003 } Protect oil { January 23 2003 } Re engages oil { September 17 2002 } Russia iraq oil { September 30 2002 } Tricle could become gusher { May 10 2003 } US advised iraqi ministry on oil deals { June 30 2008 } Us asks israel explore reopening pipeline Us wants oil industry control { May 9 2003 } US written iraqi oil law opposed by iraqis War oil stability { February 1 2003 } Western companies to get 75 perc of iraqi oil profits Files Listed: 40

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