Iraq Oil on Yahoo! News Photos

United Nations special envoy Ad Melkert speaks to the press ...

(AP) — Sat, 07 Nov 2009 18:31:25 GMT

(AP) - United Nations special envoy Ad Melkert speaks to the press after the end of a parliament session in Baghdad, Iraq, on Saturday, Nov. 7, 2009. Iraqi lawmakers ended their session Saturday without agreeing on an election law raising concerns about the country's ability to carry out the crucial election as planned. The election law has been stalled for weeks as lawmakers argue over how to apportion votes in the oil-rich city of Kirkuk, a city claimed by both Arabs and Kurds.(AP Photo/Khalid Mohammed)

Lawmaker Abid Ali of the Dawa party after the end of a parliament ...

(AP) — Sat, 07 Nov 2009 18:30:31 GMT

(AP) - Lawmaker Abid Ali of the Dawa party after the end of a parliament session in Baghdad, Iraq, on Saturday, Nov. 7, 2009. Iraqi lawmakers ended their session Saturday without agreeing on an election law raising concerns about the country's ability to carry out the crucial election as planned. The election law has been stalled for weeks as lawmakers argue over how to apportion votes in the oil-rich city of Kirkuk, a city claimed by both Arabs and Kurds.(AP Photo/Khalid Mohammed)

Iraqi Shiite Turkmen lawmaker Abbas Hasan al-Bayati, right, ...

(AP) — Thu, 05 Nov 2009 15:15:02 GMT

(AP) - Iraqi Shiite Turkmen lawmaker Abbas Hasan al-Bayati, right, shakes hands with Kurdish lawmaker Abdul-Bari Zebari, in Baghdad, Iraq, on Thursday, Nov. 5, 2009. Iraqi lawmakers ended their session Thursday without agreeing on an election law raising concerns about the country's ability to carry out the crucial election as planned. The election law has been stalled for weeks as lawmakers argue over how to apportion votes in the oil-rich city of Kirkuk, a city claimed by both Arabs and Kurds. (AP Photo/Karim Kadim)

Richard C. Vierbuchen (R), president of ExxonMobil Upstream ...

(Reuters) — Thu, 05 Nov 2009 14:48:39 GMT

(Reuters) - Richard C. Vierbuchen (R), president of ExxonMobil Upstream Ventures, shakes hands with Abdul Mahdi al-Ameedi, deputy director-general at the Petroleum Contracts and Licensing Directorate (PCLD), after signing a deal at the Oil Ministry in Baghdad, November 5, 2009. An Exxon Mobil-led consortium has beaten rival Russian, French and Chinese groups to bag initial rights to develop Iraq's West Qurna field, the oil ministry said, and adding momentum to Iraq's bid to unlock its oil riches. REUTERS/Mohammed Ameen (IRAQ CONFLICT ENERGY BUSINESS)

Exxon Mobil Upstream Ventures Ltd.'s president, Richard C. Vierbuchen, ...

(AP) — Thu, 05 Nov 2009 14:46:11 GMT

(AP) - Exxon Mobil Upstream Ventures Ltd.'s president, Richard C. Vierbuchen, left, speaks beside Iraqi Oil Minister Hussain al-Shahristani, center, and Senior Deputy Oil Minister for upstream Abdul Karim al-Luaybi, right, during the signing of an oil agreement, in Baghdad Iraq, on Thursday, Nov. 5, 2009. A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC won the right to develop one of Iraq's most prized oil fields, Iraq's Oil Ministry spokesman said on Thursday, as the OPEC nation looks to revamp its battered energy sector.(AP Photo/Hadi Mizban)

Iraqi Oil Minister Hussain al-Shahristani, left, looks on as ...

(AP) — Thu, 05 Nov 2009 14:35:34 GMT

(AP) - Iraqi Oil Minister Hussain al-Shahristani, left, looks on as Exxon Mobil Upstream Ventures Ltd.'s president Richard C. Vierbuchen, right, and Abdul-Mehdi Al-Amidi, the Deputy Director-General of the Department contracts and permits in the Iraqi oil ministry sign an oil agreement, in Baghdad, Iraq, on Thursday, Nov. 5, 2009. A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC won the right to develop one of Iraq's most prized oil fields, Iraq's Oil Ministry spokesman said on Thursday, as the OPEC nation looks to revamp its battered energy sector. (AP Photo/Hadi Mizban)

Exxon Mobil Upstream Ventures Ltd.'s president, Richard C. Vierbuchen, ...

(AP) — Thu, 05 Nov 2009 14:35:06 GMT

(AP) - Exxon Mobil Upstream Ventures Ltd.'s president, Richard C. Vierbuchen, signs an oil agreement, in Baghdad, Iraq, on Thursday, Nov. 5, 2009. A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC won the right to develop one of Iraq's most prized oil fields, Iraq's Oil Ministry spokesman said on Thursday, as the OPEC nation looks to revamp its battered energy sector.(AP Photo/Hadi Mizban)

Exxon Mobil Upstream Ventures Ltd.'s president, Richard C. Vierbuchen, ...

(AP) — Thu, 05 Nov 2009 14:19:59 GMT

(AP) - Exxon Mobil Upstream Ventures Ltd.'s president, Richard C. Vierbuchen, right, and Abdul-Mehdi Al-Amidi, the Deputy Director-General of the Department contracts and permits in the Iraqi oil ministry sign an oil agreement, in Baghdad, Iraq, on Thursday, Nov. 5, 2009. A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC won the right to develop one of Iraq's most prized oil fields, Iraq's Oil Ministry spokesman said on Thursday, as the OPEC nation looks to revamp its battered energy sector. (AP Photo/Hadi Mizban)

Exxon Mobil Upstream Ventures Ltd.'s president, Richard C. Vierbuchen, ...

(AP) — Thu, 05 Nov 2009 14:19:21 GMT

(AP) - Exxon Mobil Upstream Ventures Ltd.'s president, Richard C. Vierbuchen, right,and Abdul-Mehdi Al-Amidi, the Deputy Director-General of the Department contracts and permits in the Iraqi oil ministry sign an oil agreement, in Baghdad, Iraq, on Thursday, Nov. 5, 2009. A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC won the right to develop one of Iraq's most prized oil fields, Iraq's Oil Ministry spokesman said on Thursday, as the OPEC nation looks to revamp its battered energy sector. (AP Photo/Hadi Mizban)

Exxon Mobil Upstream Ventures Ltd.'s president, Richard C. Vierbuchen, ...

(AP) — Thu, 05 Nov 2009 14:18:51 GMT

(AP) - Exxon Mobil Upstream Ventures Ltd.'s president, Richard C. Vierbuchen, right,and Abdul-Mehdi Al-Amidi, the Deputy Director-General of the Department contracts and permits in the Iraqi oil ministry shake hands, during a signing ceremony of an oil agreement, in Baghdad, Iraq, on Thursday, Nov. 5, 2009. A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC won the right to develop one of Iraq's most prized oil fields, Iraq's Oil Ministry spokesman said on Thursday, as the OPEC nation looks to revamp its battered energy sector. (AP Photo/Hadi Mizban)

Exxon Mobil Upstream Ventures Ltd.'s president Richard C. Vierbuchen, ...

(AP) — Thu, 05 Nov 2009 14:11:49 GMT

(AP) - Exxon Mobil Upstream Ventures Ltd.'s president Richard C. Vierbuchen, left, and Iraqi Oil Minister Hussain al-Shahristani shake hands during the signing of an oil agreement, in Baghdad Iraq, on Thursday, Nov. 5, 2009. A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC won the right to develop one of Iraq's most prized oil fields, Iraq's Oil Ministry spokesman said on Thursday, as the OPEC nation looks to revamp its battered energy sector. (AP Photo/Hadi Mizban)

An oil refinery in the oil rich city of Kirkuk, north of Baghdad ...

(AFP/File) — Thu, 05 Nov 2009 13:54:30 GMT

(AFP/File) - An oil refinery in the oil rich city of Kirkuk, north of Baghdad in 2007. Iraqi MPs are to vote on Saturday on a controversial electoral bill after a compromise text was agreed, a senior lawmaker said, raising hope that a poll can go ahead as planned in January.(AFP/File/Marwan Ibrahim)

FILE - In this file picture taken on Monday, Oct. 26, 2009, ...

(AP) — Thu, 05 Nov 2009 13:39:48 GMT

(AP) - FILE - In this file picture taken on Monday, Oct. 26, 2009, Iraqi workers walk on pipelines of an oil refinery in the town of Zubair near the city of Basra 550 kilometers (340 miles) southeast of Baghdad, Iraq. A deal to develop the West Qurna Stage 1 oil field, on Thursday, Nov. 5, 2009, is the third such agreement in less than a week between a foreign oil consortium and Iraq, as the OPEC nation looks to revamp its battered energy sector. (AP Photo/Nabil al-Jourani, file)

FILE - In this file photo of Friday, July 17, 2009, an Iraqi ...

(AP) — Thu, 05 Nov 2009 13:16:55 GMT

(AP) - FILE - In this file photo of Friday, July 17, 2009, an Iraqi worker operates valves at the Nahran Omar oil refinery near the city of Basra 550 kilometers (340 miles) southeast of Baghdad, Iraq. A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC won the right to develop one of Iraq's most prized oil fields, Iraq's Oil Ministry spokesman said on Thursday Nov. 5, 2009, as the OPEC nation looks to revamp its battered energy sector. (AP Photo/Nabil al-Jourani, file)

A man sitting in a cafe plays with worry beads in the central ...

(AP) — Wed, 04 Nov 2009 14:57:59 GMT

(AP) - A man sitting in a cafe plays with worry beads in the central city of Kirkuk, 290 kilometers (180 miles) north of Baghdad, Iraq, on Monday, Nov. 2, 2009. Iraqi politicians are debating with new hostility over control of Kirkuk, a shabby northern city set near rich oil fields that both the self-ruling Kurds and the central government want. Iraqi lawmakers have only a day left to agree on a new bill that would enable the country to hold key parliament elections in January, according to remarks Wednesday Nov. 4, 2009 by the country's election commission chairman.(AP Photo/Yahya Ahmed)

A general view of the city of Kirkuk, 290 kilometers (180 miles) ...

(AP) — Wed, 04 Nov 2009 14:52:37 GMT

(AP) - A general view of the city of Kirkuk, 290 kilometers (180 miles) north of Baghdad, Iraq, on Monday, Nov. 2, 2009. Iraqi politicians are debating with new hostility over control of Kirkuk, a shabby northern city set near rich oil fields that both the self-ruling Kurds and the central government want. Iraqi lawmakers have only a day left to agree on a new bill that would enable the country to hold key parliament elections in January, according to remarks Wednesday Nov. 4, 2009 by the country's election commission chairman.(AP Photo/Yahya Ahmed)

Iraqi Oil Minister Hussain al-Shahristani speaks to the press ...

(AP) — Tue, 03 Nov 2009 16:17:01 GMT

(AP) - Iraqi Oil Minister Hussain al-Shahristani speaks to the press after the end of an oil deal signing ceremony in Baghdad, Iraq, Tuesday, Nov. 3, 2009. Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector. The 20-year contract signed by Iraqi Oil Minister Hussain al-Shahristani and executives from British oil giant BP PLC and China's CNPC gives the two companies development rights to the 17.8 billion barrel Rumaila field in Iraq, home to the world's third largest proven oil reserves. (AP Photo/Hadi Mizban)

Iraqi Oil Minister Hussain al-Shahristani , right, reads a paper ...

(AP) — Tue, 03 Nov 2009 16:16:48 GMT

(AP) - Iraqi Oil Minister Hussain al-Shahristani , right, reads a paper as BP's CEO Tony Hayward,center, and Jiang Jiemin, Chairman and the General Manager of CNPC, look at him during during an oil deal signing ceremony, in Baghdad, Iraq, on Tuesday, Nov. 3, 2009. Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector.The 20-year contract signed by Iraqi Oil Minister Hussain al-Shahristani and executives from British oil giant BP PLC and China's CNPC gives the two companies development rights to the 17.8 billion barrel Rumaila field in Iraq, home to the world's third largest proven oil reserves.(AP Photo/Hadi Mizban)

Iraqi Oil Minister Hussain al-Shahristani , right, watches BP's ...

(AP) — Tue, 03 Nov 2009 15:54:29 GMT

(AP) - Iraqi Oil Minister Hussain al-Shahristani , right, watches BP's CEO Tony Hayward, signing a contract to invest in the Rumaila oilfield, in Baghdad, Iraq, on Tuesday, Nov. 3, 2009. Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector.The 20-year contract signed by Iraqi Oil Minister Hussain al-Shahristani and executives from British oil giant BP PLC and China's CNPC gives the two companies development rights to the 17.8 billion barrel Rumaila field in Iraq, home to the world's third largest proven oil reserves.(AP Photo/Hadi Mizban)

Iraqi Oil Minister Hussain al-Shahristani, right, watches BP's ...

(AP) — Tue, 03 Nov 2009 15:51:08 GMT

(AP) - Iraqi Oil Minister Hussain al-Shahristani, right, watches BP's CEO Tony Hayward, center, and Jiang Jiemin, Chairman and the General Manager of CNPC, right, signing a contract to invest in the Rumaila oilfield, in Baghdad, Iraq, on Tuesday, Nov. 3, 2009. Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector. The 20-year contract signed by Iraqi Oil Minister Hussain al-Shahristani and executives from British oil giant BP PLC and China's CNPC gives the two companies development rights to the 17.8 billion barrel Rumaila field in Iraq, home to the world's third largest proven oil reserves.(AP Photo/Hadi Mizban)

BP's CEO Tony Hayward, left, shakes hand with Dhiya Jaafar, ...

(AP) — Tue, 03 Nov 2009 15:50:16 GMT

(AP) - BP's CEO Tony Hayward, left, shakes hand with Dhiya Jaafar, acting chief of Iraq's South Oil Company, right, as Iraqi Oil Minister Hussain al-Shahristani, center, looks on during an oil signing ceremony, in Baghdad, Iraq, on Tuesday, Nov. 3, 2009. Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector. The 20-year contract signed by Iraqi Oil Minister Hussain al-Shahristani and executives from British oil giant BP PLC and China's CNPC gives the two companies development rights to the 17.8 billion barrel Rumaila field in Iraq, home to the world's third largest proven oil reserves.(AP Photo/Hadi Mizban)

Jiang Jiemin, Chairman and the General Manager of CNPC, listens ...

(Reuters) — Tue, 03 Nov 2009 15:49:10 GMT

(Reuters) - Jiang Jiemin, Chairman and the General Manager of CNPC, listens to Iraq's Oil Minister Hussein al-Shahristani speak after a contract-signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ POLITICS BUSINESS ENERGY)

Tony Hayward (L), BP's chief executive sits next to British ...

(Reuters) — Tue, 03 Nov 2009 15:44:38 GMT

(Reuters) - Tony Hayward (L), BP's chief executive sits next to British ambassador to Iraq Christopher Prentice (R) after a contract-signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ POLITICS BUSINESS ENERGY)

Tony Hayward (L), BP's chief executive, sits next to British ...

(Reuters) — Tue, 03 Nov 2009 15:43:29 GMT

(Reuters) - Tony Hayward (L), BP's chief executive, sits next to British ambassador to Iraq Christopher Prentice (R) after a contract-signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ POLITICS BUSINESS ENERGY)

Iraq's Oil Minister Hussein al-Shahristani (R) laughs with ...

(Reuters) — Tue, 03 Nov 2009 15:41:17 GMT

(Reuters) - Iraq's Oil Minister Hussein al-Shahristani (R) laughs with Tony Hayward (C), BP's chief executive, and Jiang Jiemin (L), Chairman and the General Manager of CNPC, after a contract-signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ POLITICS ENERGY BUSINESS)

Dhia Jaafar, head of Southern Oil Company (R), shakes hands ...

(Reuters) — Tue, 03 Nov 2009 15:36:52 GMT

(Reuters) - Dhia Jaafar, head of Southern Oil Company (R), shakes hands with Jiang Jiemin (L), Chairman and the General Manager of CNPC during a contract-signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ POLITICS BUSINESS ENERGY)

Iraq's Oil Minister Hussein al-Shahristani (R) applauds ...

(Reuters) — Tue, 03 Nov 2009 15:34:42 GMT

(Reuters) - Iraq's Oil Minister Hussein al-Shahristani (R) applauds next to Tony Hayward (C), BP's chief executive, and Jiang Jiemin (L), Chairman and the General Manager of CNPC, after a contract-signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ POLITICS ENERGY BUSINESS)

Dhia Jaafar, head of Southern Oil Company (R), exchanges agreement ...

(Reuters) — Tue, 03 Nov 2009 15:33:35 GMT

(Reuters) - Dhia Jaafar, head of Southern Oil Company (R), exchanges agreement documents with Jiang Jiemin (L), Chairman and the General Manager of CNPC, during a contract-signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ POLITICS ENERGY BUSINESS)

Dhia Jaafar, head of Southern Oil Company (R), shakes hands ...

(Reuters) — Tue, 03 Nov 2009 15:31:16 GMT

(Reuters) - Dhia Jaafar, head of Southern Oil Company (R), shakes hands with Tony Hayward (C), BP's chief executive, during a contract-signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ BUSINESS ENERGY POLITICS)

Tony Hayward, BP's chief executive, signs the oil contract ...

(Reuters) — Tue, 03 Nov 2009 15:18:07 GMT

(Reuters) - Tony Hayward, BP's chief executive, signs the oil contract during a signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ POLITICS ENERGY BUSINESS IMAGES OF THE DAY)

Jiang Jiemin, Chairman and the General Manager of CNPC speaks ...

(AP) — Tue, 03 Nov 2009 15:15:12 GMT

(AP) - Jiang Jiemin, Chairman and the General Manager of CNPC speaks during an oil signing ceremony, in Baghdad, Iraq, on Tuesday, Nov. 3, 2009. Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector.The 20-year contract signed by Iraqi Oil Minister Hussain al-Shahristani and executives from British oil giant BP PLC and China's CNPC gives the two companies development rights to the 17.8 billion barrel Rumaila field in Iraq, home to the world's third largest proven oil reserves.(AP Photo/Hadi Mizban)

BP's CEO Tony Hayward, speaks during an oil signing ceremony, ...

(AP) — Tue, 03 Nov 2009 15:14:03 GMT

(AP) - BP's CEO Tony Hayward, speaks during an oil signing ceremony, in Baghdad, Iraq, on Tuesday, Nov. 3, 2009. Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector.The 20-year contract signed by Iraqi Oil Minister Hussain al-Shahristani and executives from British oil giant BP PLC and China's CNPC gives the two companies development rights to the 17.8 billion barrel Rumaila field in Iraq, home to the world's third largest proven oil reserves.(AP Photo/Hadi Mizban)

BP's CEO Tony Hayward, speaks during an oil signing ceremony, ...

(AP) — Tue, 03 Nov 2009 15:13:42 GMT

British oil giant BP's CEO Tony Hayward,left, and Iraqi Oil ...

(AP) — Tue, 03 Nov 2009 15:13:05 GMT

(AP) - British oil giant BP's CEO Tony Hayward,left, and Iraqi Oil Minister Hussain al-Shahristani pose for a picture during an oil signing ceremony, in Baghdad, Iraq, on Tuesday, Nov. 3, 2009. Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector. The 20-year contract signed by Iraqi Oil Minister Hussain al-Shahristani and executives from British oil giant BP PLC and China's CNPC gives the two companies development rights to the 17.8 billion barrel Rumaila field in Iraq, home to the world's third largest proven oil reserves.(AP Photo/Hadi Mizban)

Iraq's Oil Minister Hussein al-Shahristani (R) talks to ...

(Reuters) — Tue, 03 Nov 2009 14:56:23 GMT

(Reuters) - Iraq's Oil Minister Hussein al-Shahristani (R) talks to BP's chief executive Tony Hayward after signing the contract to invest in Rumaila oilfield during a contract-signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ CONFLICT POLITICS ENERGY BUSINESS)

Iraq's Oil Minister Hussein al-Shahristani attends a contract-signing ...

(Reuters) — Tue, 03 Nov 2009 14:53:07 GMT

(Reuters) - Iraq's Oil Minister Hussein al-Shahristani attends a contract-signing ceremony with British oil major BP Plc and China's CNPC in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ CONFLICT POLITICS ENERGY BUSINESS)

Iraq's Oil Minister Hussein al-Shahristani (R) watches as ...

(Reuters) — Tue, 03 Nov 2009 14:50:58 GMT

(Reuters) - Iraq's Oil Minister Hussein al-Shahristani (R) watches as BP's chief executive Tony Hayward (L) signs the contract to invest in Rumaila oilfield during a contract-signing ceremony in Baghdad November 3, 2009. British oil major BP Plc and China's CNPC on Tuesday signed Iraq's first major new oil deal since the 2003 U.S. invasion, snapping up a development contract for the Rumaila oilfield, one of the world's biggest. REUTERS/Thaier Al-Sudani (IRAQ CONFLICT POLITICS ENERGY BUSINESS)

Jiang Jiemin, Chairman and the General Manager of CNPC, left, ...

(AP) — Tue, 03 Nov 2009 14:49:37 GMT

(AP) - Jiang Jiemin, Chairman and the General Manager of CNPC, left, BP's CEO Tony Hayward, center, and Dhiya Jaafar, acting chief of Iraq's South Oil Company shake hands during an oil signing ceremony, in Baghdad, Iraq, on Tuesday, Nov. 3, 2009. Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector.The 20-year contract signed by Iraqi Oil Minister Hussain al-Shahristani and executives from British oil giant BP PLC and China's CNPC gives the two companies development rights to the 17.8 billion barrel Rumaila field in Iraq, home to the world's third largest proven oil reserves.(AP Photo/Hadi Mizban)

Jiang Jiemin, Chairman and the General Manager of CNPC, left, ...

(AP) — Tue, 03 Nov 2009 14:48:47 GMT

(AP) - Jiang Jiemin, Chairman and the General Manager of CNPC, left, BP's CEO Tony Hayward, center, and Dhiya Jaafar, acting chief of Iraq's South Oil Company shake hands during an oil deal signing ceremony, in Baghdad, Iraq, on Tuesday, Nov. 3, 2009. Iraq on Tuesday finalized a deal with a British-Chinese consortium to develop its biggest oil field, a deal marking a milestone moment in the OPEC nation's push to lure foreign investors sorely needed to revamp its battered oil sector.The 20-year contract signed by Iraqi Oil Minister Hussain al-Shahristani and executives from British oil giant BP PLC and China's CNPC gives the two companies development rights to the 17.8 billion barrel Rumaila field in Iraq, home to the world's third largest proven oil reserves.(AP Photo/Hadi Mizban)

Citizens shop at a market below the citadel in the city of Kirkuk, ...

(AP) — Tue, 03 Nov 2009 13:23:30 GMT

(AP) - Citizens shop at a market below the citadel in the city of Kirkuk, 290 kilometers (180 miles) north of Baghdad, Iraq, on Tuesday, Oct 3, 2009. Iraqi politicians are debating with new hostility over control of Kirkuk, a shabby northern city set near rich oil fields that both the self-ruling Kurds and the central government want. The deadlock threatens to delay Iraq's nationwide elections set for mid-January, and in turn could possibly disrupt American plans to withdraw troops shortly after.(AP Photo/Yahya Ahmed)

Citizens shop at a market in central Kirkuk, 290 kilometers ...

(AP) — Tue, 03 Nov 2009 13:21:18 GMT

(AP) - Citizens shop at a market in central Kirkuk, 290 kilometers (180 miles) north of Baghdad, Iraq, on Tuesday, Oct 3, 2009. Iraqi politicians are debating with new hostility over control of Kirkuk, a shabby northern city set near rich oil fields that both the self-ruling Kurds and the central government want. The deadlock threatens to delay Iraq's nationwide elections set for mid-January, and in turn could possibly disrupt American plans to withdraw troops shortly after.(AP Photo/Yahya Ahmed)

In this photo taken Monday, Oct. 26, 2009, Iraqi workers operate ...

(AP) — Mon, 02 Nov 2009 16:16:32 GMT

(AP) - In this photo taken Monday, Oct. 26, 2009, Iraqi workers operate a valve at an oil refinery in the town of Zubair, 20 kilometers (12 miles) southwest of Basra, Iraq. Iraq's oil ministry on Monday, Nov. 2, 2009 signed an initial deal with a consortium led by Italy's Eni SpA to develop a prized southern oil field, an agreement representing a key step forward in the country's obstacle-strewn road to revamp its dilapidated oil sector. (AP Photo/Nabil al-Jourani)

In this photo taken Monday, Oct. 26, 2009, Iraqi workers walk ...

(AP) — Mon, 02 Nov 2009 16:16:14 GMT

(AP) - In this photo taken Monday, Oct. 26, 2009, Iraqi workers walk on pipelines an oil refinery in the town of Zubair, 20 kilometers (12 miles) southwest of Basra, Iraq. Iraq's oil ministry on Monday, Nov. 2, 2009 signed an initial deal with a consortium led by Italy's Eni SpA to develop a prized southern oil field, an agreement representing a key step forward in the country's obstacle-strewn road to revamp its dilapidated oil sector. (AP Photo/Nabil al-Jourani)

In this photo taken Monday, Oct. 26, 2009, Iraqi workers operate ...

(AP) — Mon, 02 Nov 2009 16:14:16 GMT

Iraqi Oil Minister Hussain al-Shahristani speaks during a signing ...

(AP) — Mon, 02 Nov 2009 16:04:24 GMT

(AP) - Iraqi Oil Minister Hussain al-Shahristani speaks during a signing ceremony for the Zubair oil field, in Baghdad, Iraq, Monday, Nov. 2, 2009. Iraq's oil ministry on Monday signed an initial deal with a consortium led by Italy's Eni SpA to develop a prized southern oil field, an agreement representing a key step forward in the country's obstacle-strewn road to revamp its dilapidated oil sector. Eni, the U.S.'s Occidental Petroleum Corp. and South Korea's KOGAS will develop the 4.1 billion barrel Zubair field, with an eye to boosting output from around 200,000 barrels per day to 1.1 million barrels a day.(AP Photo/Karim Kadim)

Signing an initial deal to develop Zubair oil field, in Baghdad, ...

(AP) — Mon, 02 Nov 2009 15:37:32 GMT

(AP) - Signing an initial deal to develop Zubair oil field, in Baghdad, Iraq, on Monday, Nov. 2, 2009, are left-right; Abdul-Mahdi Al-Ameedi, Vice director of contracts in Iraqi oil ministry; Sahah Al-Saiedi Director of Legal Department in Iraqi oil ministry; Eni's Middle East head, Nasir Ramadhan; Vice President of Occidental Petroleum Corp Glenn Vangolen; and Chu Nochol of Koreas Gas Corporation( KOGAS). Iraq's oil ministry on Monday signed an initial deal with a consortium led by Italy's Eni SpA to develop a prized southern oil field, an agreement representing a key step forward in the country's obstacle-strewn road to revamp its dilapidated oil sector. Eni, the U.S.'s Occidental Petroleum Corp. and South Korea's KOGAS will develop the 4.1 billion barrel Zubair field, with an eye to boosting output from around 200,000 barrels per day to 1.1 million barrels a day.(AP Photo/Karim Kadim)

Vice President of Occidental Petroleum Corp Glenn Vangolen, ...

(AP) — Mon, 02 Nov 2009 14:59:07 GMT

(AP) - Vice President of Occidental Petroleum Corp Glenn Vangolen, left, and Chu Nochol of Koreas Gas Corporation( KOGAS), right, sign an initial deal to develop Zubair oil field, in Baghdad, Iraq, on Monday, Nov. 2, 2009. Iraq's oil ministry on Monday signed an initial deal with a consortium led by Italy's Eni SpA to develop a prized southern oil field, an agreement representing a key step forward in the country's obstacle-strewn road to revamp its dilapidated oil sector.Eni, the U.S.'s Occidental Petroleum Corp. and South Korea's KOGAS will develop the 4.1 billion barrel Zubair field, with an eye to boosting output from around 200,000 barrels per day to 1.1 million barrels a day.(AP Photo/Karim Kadim)

Eni's Middle East head, Nasir Ramadhan, left, Vice President ...

(AP) — Mon, 02 Nov 2009 14:57:53 GMT

(AP) - Eni's Middle East head, Nasir Ramadhan, left, Vice President of Occidental Petroleum Corp Glenn Vangolen, center, and Chu Nochol of Koreas Gas Corporation( KOGAS), right, sign an initial deal to develop Zubair oil field,in Baghdad, Iraq, on Monday, Nov. 2, 2009. Iraq's oil ministry on Monday signed an initial deal with a consortium led by Italy's Eni SpA to develop a prized southern oil field, an agreement representing a key step forward in the country's obstacle-strewn road to revamp its dilapidated oil sector.Eni, the U.S.'s Occidental Petroleum Corp. and South Korea's KOGAS will develop the 4.1 billion barrel Zubair field, with an eye to boosting output from around 200,000 barrels per day to 1.1 million barrels a day.(AP Photo/Karim Kadim)

In this file photo taken on Thursday April 24, 2003, Residents ...

(AP) — Sun, 01 Nov 2009 19:41:17 GMT

(AP) - In this file photo taken on Thursday April 24, 2003, Residents walk through a market next to the Kirkuk Castle in Kirkuk, 290 kilometers (180 miles) north of Iraq's capital Baghdad. Iraqi politicians are debating with new hostility over control of Kirkuk, a shabby northern city set near rich oil fields that both the self-ruling Kurds and the central government want. The deadlock threatens to delay Iraq's nationwide elections set for mid-January, and in turn could possibly disrupt American plans to withdraw troops shortly after. (AP Photo/Kevin Frayer, file)

In this file photo taken on Wednesday, March 25, 2009, people ...

(AP) — Sun, 01 Nov 2009 19:41:08 GMT

(AP) - In this file photo taken on Wednesday, March 25, 2009, people shop at the market in central Kirkuk, 290 kilometers (180 miles) north of Iraq's capital Baghdad. Iraqi politicians are debating with new hostility over control of Kirkuk, a shabby northern city set near rich oil fields that both the self-ruling Kurds and the central government want. The deadlock threatens to delay Iraq's nationwide elections set for mid-January, and in turn could possibly disrupt American plans to withdraw troops shortly after. (AP Photo/Yahya Ahmed, file)