Oil giants return to Iraq - The Diigo Meta page
www.independent.co.uk/...nts-return-to-iraq-851036.html - Cached
www.independent.co.uk/...nts-return-to-iraq-851036.html - Cached
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The company was formalised in 1928 and each of the four shareholders had a 23.75 per cent share of all the oil produced. The final 5 per cent went to Calouste Gulbenkian, an Armenian businessman.
In 1931, an agreement was signed with Iraq, giving the company complete control over the oi fields of Mosul in return for annual royalties. After Saddam's coup in 1958, nationalisation came in 1972.
"The return of "Big Oil" will add to the suspicions of those in the Middle East who claimed that the overthrow of Saddam was secretly driven by the West's desire to gain control of Iraq's oil. It will also be greeted with dismay by many Iraqis who fear lo
Iraq oil energy geopolitics imperialism business trade politics neoliberalism US UK
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