This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Iraq-Shell Gas Deal Likely To Be Delayed

The delay is another sign that Iraq's political wrangling is threatening its hopes for investment in natural resources to fill the national coffers with the badly needed cash. It could also contribute to the perception that Iraq is an unstable partner for international oil companies looking to invest.

Samuel Ciszuk, Mideast energy analyst for London-based IHS Global Insight, said any progress on the Shell deal is unlikely "unless the parties favoring the deal strengthen their positions in the forthcoming election."

Encouraged by security improvements since the second half of 2007, Iraq has since set ambitious plans to develop its energy industry.

But the fight for power between the country's political factions has become an obstacle and so has the opposition from nationalist Iraqis who fear bringing in international oil companies could cede control over national oil wealth.

Similar objections forced the Oil Ministry to scrap plans to develop five oil fields in June 2008. Iraq's first postwar oil bidding round to develop eight oil and gas fields also had its share of critics, most of whom objected to awarding contracts to Western developers.

The June 30 bidding process resulted in just one contract being awarded out of eight due to tough financial terms.
2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
RDA $18.45 3.71%
AAPL $110.38 0.00%
FB $92.07 0.00%
GOOG $626.91 0.00%
TSLA $247.57 0.00%


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs