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Reuters: Shell says Iraq oil law proceeding slowly

Thu Feb 21, 2008 6:54am EST

BRUSSELS, Feb 21 (Reuters) – Royal Dutch Shell hopes Iraq will pass an oil law this year and sees this and improved security as prerequisites for being able to work there, CEO Jeroen van der Veer said on Thursday.

“You need basically two green lights before you can work…first of all you have to know the rules of the game,” van der Veer told a security conference in Brussels.

He told an Iraqi questioner he hoped the oil law would be passed this year “but it doesn’t go very fast.”

If this and the security requirement were met, then companies like Shell could create a “win-win situation” in Iraq, “but it needs those two conditions.”

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