Schumer and Kerry appeal to Bush administration to stop no-bid deals with big companies until equal royalty distribution is guaranteed.
Two U.S. senators asked the Bush administration Tuesday to stop the Iraqi government from signing imminent no-bid contracts with several U.S. and European oil companies, expressing concern about the distribution of royalties from the deal.
Sen. Charles Schumer, D-N.Y., and Sen. John Kerry, D-Mass., sent a letter to Secretary of State Condoleezza Rice expressing concerns about a contract that the government of Iraq is preparing to sign with Exxon Mobil Corp., (XOM, Fortune 500) Royal Dutch Shell (RDSA), Total SA (TOT), Chevron Corp (CVX, Fortune 500)., BP (BP) and other companies. The contract would let those companies develop Iraq's largest oil fields.
The senators, who released the letter, said they are worried that unfair distribution of oil revenue could inflame the violence between the warring religious and political groups of Iraq.
Read Complete Story
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment