Shell-Iraq gas company would be Basra natural gas monopoly

*Proposed joint venture could expand beyond Basra *Includes all gas, associated and non-associated, documents show Plus: *Oil Ministry presses Parliament on oil law action *Alive in Baghdad: Who would Iraqis vote for – McCain or Obama? *Violence in Context *Iraq Press Roundup *USIP: Iraq’s Cultural Heritage: Preserving the Past for the Sake of the Future […]

A secret document obtained by United Press International reveals a planned joint venture company between Royal Dutch Shell and the Iraqi Oil Ministry would give the company a 25-year monopoly on the gas industry of southern Iraq, Ben Lando reports for United Press International.

Shell and the ministry are currently negotiating the terms of the joint venture company. On Sept. 22 the two signed what's known as a "Heads of Agreement," basically a rough draft of the contract, a legal framework establishing the management team and the scope, purpose and other details of the company.

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