Cabinet approves Shell gas deal

Iraq's Cabinet approved a groundbreaking gas joint venture with Royal Dutch Shell on Tuesday, paving the way for a project that will capture natural gas currently burned off as a waste byproduct from three of the country's largest oil fields."Now, after the approval of the Cabinet, we are going to do the final signing of the contract soon, most likely next week," said a senior Iraqi oil official.Shell will lead the effort to capture and process 700 million standard cubic feet per day (s...