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Shell and Petronas get closer to Majnoon contract

Representatives of the two oil companies initialed a contract with the Iraqi Oil Ministry Sunday, though now begins the longer process of Council of Ministers approval.

BAGHDAD - Iraq's Oil Ministry started Sunday a two-week swing to get all of the projects awarded in an oil auction earlier this month to the Council of Ministers for approval.

It began with the Majnoon contract, which was awarded to a Shell-led partnership with Petronas of Malaysia Dec. 11.

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