Word: deals
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...Most notably, the company has agreed to a 2.5% ownership stake in the mine for a group of local landowners, although many others say they have been iced out of the deal. "For Chinese and Papua New Guineans, who are from such different cultures, it will naturally take some time for us to truly understand each other, and sometimes it is not easy," says Wu Xuefeng, deputy general manager at Ramu NiCo. "Our proposal to tackle all these challenges is to address them within our overall sustainability development framework, [and] we are glad that we have been improving along...
...elsewhere, many Indians welcomed his embrace, which strengthened ties to an unprecedented degree after decades of Cold War estrangement. Prime Minister Singh faced opposition at home from politicians skeptical of closer relations with the U.S. - his government was almost deposed by parties of the left protesting a nuclear-technology deal he concluded with the Bush Administration. But Singh staked his political reputation on the growing relationship. "Under Bush, India was being encouraged to be an Asian power," says Brahma Chellaney, professor of strategic studies at the Centre for Policy Research, a New Delhi - based think tank. Implicit in the Bush...
...orchestrated by Pakistan-based groups traditionally associated with Pakistan's military intelligence organization, the ISI. Obama and his envoy to Pakistan and Afghanistan, Richard Holbrooke, have urged India to make concessions on the decades-old Kashmir dispute in order to help Washington's efforts to get Pakistan to finally deal with the Taliban. But little has been done to coerce Pakistan to crack down on extremists using its territory as a base for targeting India...
...government may have been right all along. After months of sticking to their demands, oil companies now are agreeing to Iraq's $2-a-barrel offer. In mid-November, Italian oil executives from ENI flew to Baghdad to sign a deal on Zubair, a southern Iraq field with about 4.1 billion barrels of reserves. ENI plans to pump about 1.1 million barrels a day from Zubair in partnership with California-based Occidental Petroleum and South Korea's Kogas. ENI was quickly followed by ExxonMobil and Royal Dutch Shell, which agreed to produce about 2.3 million barrels a day in another...
...catalyst for the flurry of agreements appears to be the BP-CNPC deal, Iraq's first international oil contract in nearly four decades. The British and Chinese companies won the right to drill for 20 years in what is believed to be one of the world's four largest fields with potential reserves of about 65 billion barrels. Though it will earn only $2 a barrel, BP says it aims to keep expenses down by using low-cost Chinese labor and equipment. The group promised Iraq's government that it will nearly triple the field's output from 1 million...