Royal Dutch Shell, one of the world's largest oil companies has completed a multi-billion dollar deal with Iraq. They are the first foreign petroleum corporation to foster such a deal since the Iraqi oil industry was nationalized over three decades ago under deposed leader Saddam Hussein. Shell hailed the deal as a major step towards the stabilization of Iraq as a nation, but would still not disclose locations of its offices. A Shell representative also announced that a large force of guards were hired. The goal of the deal is to recapture gas that goes to waste during oil extraction. The recaptured gas will be used to fuel power stations and industrial sites. Crippling power shortages are a common occurance in Iraq, and this will hopefully ease the situation. Iraq's oil minister Hussain al-Shahristani praised the gas joint-venture which will be 51% owned by the Iraqi government, and 49% owned by Shell.See the article here. -V
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