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Shell and China discussing oil projects in Iraq
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Translated by IRAQdirectory.com - [4/15/2009]
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Royal Dutch Shell announced on Tuesday about holding talks with Chinese state oil companies to submit joint bids for oil projects in Iraq.
The British-Dutch oil company said they want to expand their presence in refining sector and the fuel sale in China, which is currently dominated by Chinese giant state-owned companies are keen to strengthen their reserves abroad.
The Executive Manager of Shell, Jeroen Van Der Veer told reporters that during his stay in Beijing. He gave no further details.
Shell is the second largest non-governmental oil company in the world and market, and it was shrinking its assets in the sectors of fuel retail sale in Europe and Africa with the fall in demand in these areas.
But the company is keen on a greater presence in China's second largest oil consumer in the world after having established a joint venture with a Sinopec the largest Chinese refinery.
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